IDEAS home Printed from https://ideas.repec.org/a/fan/polipo/vhtml10.3280-poli2009-004002.html
   My bibliography  Save this article

L'industria italiana di fronte alla crisi e al giudizio delle banche

Author

Listed:
  • Alessandra Lanza
  • Pietro Modiano

Abstract

Italian manufacturing through the crisis and credit selection - The heritage of the most striking financial crisis developed from within industrialized countries in recent years will have an impact on industrial companies for many months to come. In addition, the real effect of the crisis and its possible solutions are not yet entirely clear both in terms of magnitude and duration. The "benign" (and procyclical) spillover effects from the financial to the real sectors of the economy are about to change, moving from an open-handed, cheap, general credit, as experienced in the past ten years, to a more one-by-one, pricey, selective approach. The question of the selection and allocative function of banks is crucial to sustain a short-term recovery while ensuring a long-term feasible and sustainable development. In this framework, understanding how resilient and competitive Italian firms are is pivotal to ensure allocative efficiency. The authors suggest that during the last decade conventional wisdom and hard data have often underestimated the industrial upgrading that has taken place in the country. This is not a negligible detail when called to evaluate and select credit - a scarce resource - which if unproperly allocated may significantly distort the development options of a country’s industries.

Suggested Citation

  • Alessandra Lanza & Pietro Modiano, 2009. "L'industria italiana di fronte alla crisi e al giudizio delle banche," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 36(4), pages 7-21.
  • Handle: RePEc:fan:polipo:v:html10.3280/poli2009-004002
    as

    Download full text from publisher

    File URL: http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=37936&Tipo=ArticoloPDF
    Download Restriction: Single articles can be downloaded buying download credits, for info: http://www.francoangeli.it/riviste/inglese_download_credit.asp

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Manufacturing; banking; allocative efficiency;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F10 - International Economics - - Trade - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fan:polipo:v:html10.3280/poli2009-004002. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angelo Ventriglia). General contact details of provider: http://www.francoangeli.it/riviste/sommario.asp?IDRivista=13 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.