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Trade debts of Italian general government: an unsolved problem

Author

Listed:
  • Leandro D’Aurizio

    () (IVASS)

  • Domenico Depalo

    () (Bank of Italy)

  • Sandro Momigliano

    () (Bank of Italy)

  • Emilio Vadalà

    () (Bank of Italy)

Abstract

This paper examines the phenomenon of late payment by Italy’s general government. Its main contribution to the debate are new estimates on the stock of trade payables and the average payment times for the years 2008-14 which, compared with those published in the Bank of Italy’s Annual Reports, incorporate a number of methodological refinements. We also investigate the distribution of trade debts according to several characteristics of creditor firms (sector, size, geographical area, intensity of relations with the public sector) and propose some useful elements for evaluating the effectiveness of the Government’s 2013-14 programme aimed at reducing the outstanding debts.

Suggested Citation

  • Leandro D’Aurizio & Domenico Depalo & Sandro Momigliano & Emilio Vadalà, 2015. "Trade debts of Italian general government: an unsolved problem," Questioni di Economia e Finanza (Occasional Papers) 295, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_295_15
    as

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    File URL: http://www.bancaditalia.it/pubblicazioni/qef/2015-0295/QEF_295_15.pdf
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    References listed on IDEAS

    as
    1. Coco, G., 1998. "On the Use of Collateral," Discussion Papers 9805, University of Exeter, Department of Economics.
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    Cited by:

    1. Paolo Chiades & Luciano Greco & Vanni Mengotto & Luigi Moretti & Paola Valbonesi, 2016. "Intergovernmental transfers and expenditure arrears," Working Papers hal-01442684, HAL.
    2. Chiades, Paolo & Greco, Luciano & Mengotto, Vanni & Moretti, Luigi & Valbonesi, Paola, 2019. "Fiscal consolidation by intergovernmental transfers cuts? The unpleasant effect on expenditure arrears," Economic Modelling, Elsevier, vol. 77(C), pages 266-275.

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    More about this item

    Keywords

    trade debt; late payments; general government;
    All these keywords.

    JEL classification:

    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • H59 - Public Economics - - National Government Expenditures and Related Policies - - - Other

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