Infrastructure and project financing in Italy: the (possible) role of the regulation
There has been a significant increase in project financing in the public sector in Europe in the past decade, benefiting the implementation of infrastructure projects. In Italy, project financing is still much more limited than in such countries as Spain and the UK: the projects funded are smaller and the sectors involved are less appropriate. Based on the economic literature, European initiatives and international comparisons, the paper examines the aspects of the regulations that could encourage the appropriate use of project financing and considers the problems with the Italian regulations, proposing some corrective measures. The main limitations involve: i) uncertainties over the allocation of administrative and regulatory risks; ii) poor procedures for selecting the private contractors; iii) relative lack of attention to the contract terms; and iv) inadequate safeguards to ensure the bankability of the projects.
|Date of creation:||Nov 2009|
|Date of revision:|
|Contact details of provider:|| Postal: Via Nazionale, 91 - 00184 Roma|
Web page: http://www.bancaditalia.it
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_56_09. 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: ()
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.