Gigliobianco, Alfredo; Giordano, Claire; Toniolo, Gianni - Banca d'Italia - 2009
1888-1894 financial crisis, which yielded regulation concerning only these banks and restricting their activity. The German … financial crisis gives rise to a regulatory change, which is circumvented in due time by financial innovation, that can then … contribute to the outbreak of a new financial crisis. In Italy, overtrading of the banks of issue in the 1880s contributed to the …