No. 22 - Investment financing

This volume is a collection of the papers presented at a research workshop on investment financing held in Rome at the Bank of Italy on 13 November 2015. It consists of eight papers covering a wide range of topics, from corporate finance, to bank and non-bank finance. The comments and suggestions made by the discussants and other participants at the workshop are also included.

The papers are divided into three sections, which correspond to workshop’s sessions: financial factors and corporate decisions, bank and non-bank financing, and financing infrastructure investment.

In the euro area, some features of the financial system contributed to cause or aggravate the collapse of corporate investment during the financial crisis and the ensuing sovereign debt crisis, whereas others made capital accumulation more resilient and are now helping its recovery. Drawing on the recent experience of the euro area, the volume provides new and sound insights on both the dark and the bright side of finance.

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