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An Evaluation of the Policies on Repayment of Government’s Trade Debt in Italy

Author

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  • Leandro D’Aurizio

    (IVASS, Research and Data Management Service)

  • Domenico Depalo

    (Banca d’Italia)

Abstract

Since 2012 the Italian Government made several steps to repay its commercial debts. By using a composite dataset, we evaluate the effect of these policies on the financial performances of a representative sample of Italian firms. We distinguish between firms beneficiaries of these repayments, those that were not repaid, although they had a legitimate right, and those that did not have commercial relations with the General Government. We find that receiving money had a significant positive impact on firms’ financial position.

Suggested Citation

  • Leandro D’Aurizio & Domenico Depalo, 2016. "An Evaluation of the Policies on Repayment of Government’s Trade Debt in Italy," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 2(2), pages 167-196, July.
  • Handle: RePEc:spr:italej:v:2:y:2016:i:2:d:10.1007_s40797-016-0030-2
    DOI: 10.1007/s40797-016-0030-2
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    Cited by:

    1. Margherita Bottero & Stefano schiaffi, 2022. "Firm liquidity and the transmission of monetary policy," Temi di discussione (Economic working papers) 1378, Bank of Italy, Economic Research and International Relations Area.
    2. Maurizio Conti & Leandro Elia & Antonella Rita Ferrara & Massimiliano Ferraresi, 2020. "Government late payments and firms survival. Evidence from the EU," Working papers 87, Società Italiana di Economia Pubblica.

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    More about this item

    Keywords

    Trade debt; Difference-In-Differences; Policy evaluation;
    All these keywords.

    JEL classification:

    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • H69 - Public Economics - - National Budget, Deficit, and Debt - - - Other
    • L88 - Industrial Organization - - Industry Studies: Services - - - Government Policy

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