The Italian economic and institutional system in a pandemic situation

Simone Boccaletti; Paola Bongini; Camilla Buzzacchi; Doriana Cucinelli

doi:10.26354/bb.4.2.79.2020

Published : 2020-07-09

Vol. 79 No. 2 (2020)

The Italian economic and institutional system in a pandemic situation

Simone Boccaletti

https://orcid.org/0000-0002-6972-5005

Paola Bongini

https://orcid.org/0000-0003-2288-7442

Camilla Buzzacchi

https://orcid.org/0000-0003-0145-0508

Doriana Cucinelli

https://orcid.org/0000-0002-1649-5437

DOI: https://doi.org/10.26354/bb.4.2.79.2020

Abstract

This paper provides a first assessment of the effect of the Covid-19 emergency on the Italian economy. The impact of the pandemic is analyzed from three points of view: the institutional settings and the differences in power between the central and local governments; the impact on the real economy and sectoral differences; the role of the banking sector in supporting the real economy during and after the crisis. The paper highlights how the pandemic affected Italian regions and sectors differently, and presents policy consideration regarding the European banking sector.

Keywords:

bank, banking system, Covid-19, Italian economy, regions, sectoral differences

Details

References

Statistics

Authors

Download files

pdf

Citation rules

Boccaletti, S., Bongini, P., Buzzacchi, C., & Cucinelli, D. (2020). The Italian economic and institutional system in a pandemic situation. Safe Bank, 79(2), 60–80. https://doi.org/10.26354/bb.4.2.79.2020

Altmetric indicators

Cited by / Share

Licence

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

References

Ayadi, R., Ferri, G., & Lastra, R. M., Systemic solutions to systemic crises. dealing with NPLs in the Eurozone. European Economy, 1/2017, pp.173-198.

Bank of Italy, Economic Bulletin. Issue 1/2020 (January, 17, 2020).

Bank of Italy,. Economic Bulletin. Issue 2/2020 (April, 17, 2020).

Beck R., Jakubik P., Piloiu A., Key determinants of Non-performing loans: new evidence from a Global sample. Open Economic Review, 2015, Vol. 26, pp. 525-550.

Bikker J.A., Metzemakers, P.A.J., Bank provisioning behaviour and procyclicality. Journal of International Financial Markets, Institutions and Money, 2005, Vol. 15, pp. 141‐157.

Bongini P., G. Ferri, Patarnello, A., La crisi giapponese: scenari macroeconomici e ruolo del sistema bancario, Credito popolare n. 4, 2002.

Boudriga, A., Boulila, N., Jellouli, S., Does bank supervision impact nonperforming loans: cross-country determinants using aggregate data? MPRA Paper No. 18068/2009.

Bofondi M., Ropele T., Macroeconomic determinants of bad loans: evidence from Italian banks, Occasional Paper, Questioni di Economia e Finanza, Banca d’Italia, 2011.

Buzzacchi C., Rifinanziamento della sanità pubblica e Mes: un caso di liaisons non così tanto dangereuses, http://www.lacostituzione.info/[24.04.2020]

Buzzacchi C., “Coronavirus e territori: il regionalismo differenziato coincide con la zona “gialla”, http://www.lacostituzione.info/ [02.03.2020]

Buzzacchi, C.,Scostamento di bilancio da Coronavirus, http://www.lacostituzione.info/[13.03.2020]

Castro Macroeconomic determinants of the credit risk in the banking system: the case of the GIPSI. Economic Modelling, 2013, Vol. 31, pp. 672-683.

Cerved, “L’impatto del Covid-19 sui settori: il Cerved Industry Forecast”. https://know.cerved.com/imprese-mercati/limpatto-del-covid-19-sui-settori-il-cerved-industry-forecast-reloaded/ [13.03.2020]

Cooke, D., & Foley, J., The role of the asset management entity: an East Asian perspective. Rising to the Challenge in Asia: A Study of Financial Markets, 1999, Vol. 2: Special Issues.

Confindustria, Risultati relativi all’indagine sugli effetti del Covid-19 per le imprese italiane, 2020.

Confindustria, Seconda edizione dell’indagine sugli effetti della pandemia da Covid-19 per le imprese italiane, 2020.

Cucinelli, D., Di Battista, M. L., Marchese, M., & Nieri, L.. Credit risk in European banks: The bright side of the internal ratings based approach. Journal of Banking & Finance, 2018, nr 93, 213-229.

European Banking Authority, Final Report on the Application of the definition of default under Article 178 of Regulation (EU) No 575/2013, EBA/GL/2016/07, 29 September 2016.

European Banking Authority, Final Report. Guidelines on management of non-performing and forborne exposures. EBA/GL/2018/06, 31 October 2018.

European Central Bank, Addendum to the ECB guidance to banks on non-performing loans: prudential provisioning backstop for non-performing exposures, 2018.

European Central Bank, Guidance to banks on non-performing loans, 2017.

European Central Bank, Economic Bulletin. Issue 2/2020 (March, 26, 2020).

European Commission, Commission Regulation (EU) No. 2016/2067 of 22 November 2016, Official Journal of the European Union, 29 November 2016.

European Parliament, Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 April 2019 amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures, Official Journal of the European Union, 25 April 2019.

Fujii, M., & Kawai, M., Lessons from Japan’s banking crisis–1991 to 2005. In Research Handbook on International Financial Regulation. Edward Elgar Publishing, 2012.

Goodell, JW, Covid-19 and finance: agendas for future research, Finance Research Letters, 2020

International Monetary Fund, World Economic Outlook, April 2020: The Great Lockdown.

Laing, T., The economic impact of the Coronavirus 2019: implications for the mining industry, The Extractive Industries and Society, 2020

Stiroh, K. J., Diversification in banking: Is noninterest income the answer?. Journal of money, Credit and Banking, Vol. 36, No.5 (Oct.,2004), pp.853-882.

Staikouras, C., Wood, G., & Denney, R., Bank Non-Interest Income: A Source of Stability?. Cass Business School Research Paper, 2000.