Date of publication
24 January 2019
24/01/2019 - In recent years, Italy has undertaken important initiatives to strengthen capital markets as a complementary source of finance. These include the individual saving plans (PRI) and the mini-bond market framework. However, there is important scope for improving the usefulness of the Italian capital market to Italian business. This requires promoting a successful outcome of the recent initiatives as well as the identification of any remaining opportunities and impediments.
Against this background, the OECD has been undertaking a comprehensive review of capital markets in Italy with the financial support from the European Commission via the Structural Reform Support Service. The analysis and the identified areas for reform in the OECD review will allow Italian authorities to grasp new opportunities and remove impediments to further capital market development, with a view to supporting sustainable growth, job creation and corporate investment.
As a first step, the OECD has developed the Capital Market Review of Italy 2018: Mapping Report, which provides a detailed analysis of the corporate landscape as well as how Italian companies use public equity markets and corporate bond markets. It also provides an overview of both private equity and debt markets in Italy.
Based on the analyses in this mapping report and consultations with representatives of relevant Italian authorities and market participants, academics and other experts, the OECD will in 2019 develop a diagnostic report addressing challenges, opportunities and recommendations on how to improve corporate access to market based finance in Italy.