We exploit Italian Central Credit Register data to investigate the effectiveness of subsidized credit programs for public financing to firms via the banking system. The effect of public incentives depends on the availability of financial resources for the beneficiary firms. Financially...

The two recessions that have hit Italy since the end of 2008 have raised the share of non-performing loans to businesses in banks' portfolios substantially. In this paper we evaluate to what extent the deterioration of credit quality was due not only to the decline in firms' sales during the...

The paper investigates whether firms have better access to bank credit in areas with a larger degree of urbanization. It uses bank-firm data drawn from the Credit Register maintained at the Bank of Italy to devise an indicator of ease of access to credit. The paper proposes an instrumental...