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Local public enterprises: a comparison between the South and the Centre and North of Italy

Author

Listed:
  • Claudia Di Carmine

    (Bank of Italy)

  • Anna Laura Mancini

    (Bank of Italy)

  • Daniela Mele

    (Bank of Italy)

  • Giacomo Roma

    (Bank of Italy)

  • Giacomo Ziglio

    (Bank of Italy)

Abstract

The paper reconstructs the set of companies in which local administrations hold a stake and delineates their principal features, focusing on a territorial comparison between the South and the Centre and North of Italy. Companies based in the South are smaller in size and have a lower number of participating entities on average than those in the Centre and North. Analysis of financial statements also shows that they have lower capitalization, lower income results and a lower propensity to invest. No significant differences between the two areas emerge with regard to the process of reducing the number of companies initiated by the 2016 Consolidated Law on Publicly Owned Companies (TUSP), which has had limited effects so far. The paper also explores the relationship between the economic and financial situation of the participating entities and some performance indicators for their investees, taking into account the main enterprise characteristics. Specifically, the results show a positive correlation with profitability.

Suggested Citation

  • Claudia Di Carmine & Anna Laura Mancini & Daniela Mele & Giacomo Roma & Giacomo Ziglio, 2024. "Local public enterprises: a comparison between the South and the Centre and North of Italy," Questioni di Economia e Finanza (Occasional Papers) 859, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_859_24
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2024-0859/QEF_859_24.pdf
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    More about this item

    Keywords

    local public enterprises; local public administrations; Southern Italy;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises

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