Corporate governance

OECD Capital Market Review of Italy



Date of publication
31 January 2020


EU logo

With funding by the
European Union‌ via the
Directorate General for Structural
Reform Support

See also

2018 Italy mapping report

More OECD work on capital markets


Download the full report


Improving Italy’s capital market will boost growth opportunities for Italian companies and savers


 Améliorer le fonctionnement des marchés de capitaux en Italie offrira plus d’opportunités de croissance aux entreprises et aux épargnants italiens


 Italia: la riforma del mercato dei capitali potenzierà le opportunità di crescita di aziende e risparmiatori



Launch event

Rome, 31/01/2020 - The review was released in Rome on 31 January 2020 in the presence of the Italian Minister of Economy and Finance Roberto Gualtieri, OECD Secretary-General Angel Gurría and European Commission Executive Vice-President Valdis Dombrovskis.

Launch agenda

Keynote speech by Angel Gurría | Italian version

Keynote speech by Valdis Dombrovskis

PPT of main findings

Event photos



About the report

31/01/2020 - The future prosperity of Italian households will to a large extent depend on how successfully their savings can be channelled to long-term investments in the real economy that create good jobs and sustainable growth. Drawing on the strengths of Italian corporations and experiences from important global developments in capital markets, the OECD Capital Market Review of Italy offers policy recommendations to improve the institutional and regulatory framework in a way that will give Italian business better access to funding and households more opportunities to diversify their savings.


Italy has in recent years undertaken important structural reforms that have contributed to a gradual economic recovery. However, sustained improvements in productivity, competitiveness and growth requires further investments in the real economy. And investments require that companies have access to long-term capital. In an era of increased global competition, more developed capital markets can therefore contribute to a virtuous process of investment and growth where companies can take the long-term view that is necessary in order to grow, innovate and drive business sector dynamics. More developed capital markets will also provide ordinary citizens with better opportunities to diversify their savings and directly and indirectly share in the success of Italian business.


Against this background, the analysis and reform proposals in the review invite Italian authorities to grasp new opportunities and consider reforms that will support further capital market development, with a view to supporting beneficial household savings, corporate investments, job creation and sustained economic growth.


This review was produced within the framework of a cooperation agreement between the OECD and the European Commission’s Directorate General for Structural Reform Support (DG REFORM).



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