The Italian financial system in the mid-1990s: a difficult transition
Article Abstract:
The Italian financial system is in a transition period searching for an effective compromise between German-style universal banking and the Anglo-American market-oriented system. This was stimulated by the European Community directives and the modernization of the Italian finance market. The Italian economy, which has been very bank-centered, has gone through major changes due to strong competitive pressures arising from liberalization and removal of constraints. The transformation being sought can be undertaken by fostering efficiency through competition without sacrificing the stability of industrial capitalism.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1996
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Governor Baffi's monetary policy
Article Abstract:
Franco Spinelli and Michele Fratianni, in their book 'Storia monetaria d'Italia,' stated that Italian Central Bank Governor Paolo Baffi was distanced from the economic policies he implemented during his term. An analysis of the behavior of Baffi from 1976 to 1979 refutes this allegation. Instead of being distant, Baffi was much affected by the policies he was obliged to implement. It was difficult for Baffi to reconcile his respect for individual freedom with the consequences of his economic mandates.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1991
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Italian monetary policy in the '80s and '90s: the revision of the "Modus Operandi."
Article Abstract:
Italy has transformed its monetary, economic and social regime. The 'Modus Operandi' of Italian monetary policy which relies on market-based control was radically changed in the '80s and '90s. However, changes still have to be initiated with relation to the banks' compulsory reserve deposits. The Bank of Italy must also be in step with European standards if it is to be an active participant of the future European System of Central Banks.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1995
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