Il debito delle Amministrazioni locali in Italia

Journal title PRISMA Economia - Società - Lavoro
Author/s Alfredo Bardozzatti, Emilio Vadalà
Publishing Year 2009 Issue 2009/2
Language Italian Pages 10 P. 61-70 File size 109 KB
DOI 10.3280/PRI2009-002006
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Il debito delle Amministrazioni locali in Italia - The paper provides a survey of the borrowing strategies of Italian local administrations. It examines the evolution of regulation about local government debt, outlining recent trends. In addition, it forecasts future normative scenarios informed by the decentralization process and Italian national budget policies. The implications of the "golden rule" clause and of the ceiling to indebtedness (tied to local entities’ revenues) set by the Italian legislation are also accounted for, as is the impact of specific financial techniques such as derivatives instruments. The paper evaluates the margins that could afford a higher financial market control and recommends a few changes that could better align the regulations governing local bodies’ resort to debt to a decentralized institutional structure.

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Alfredo Bardozzatti, Emilio Vadalà, Il debito delle Amministrazioni locali in Italia in "PRISMA Economia - Società - Lavoro" 2/2009, pp 61-70, DOI: 10.3280/PRI2009-002006