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I project bond in Italia: problemi e prospettive

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  • Andrea Sartori

Abstract

The research focuses on project bonds in Italy. Project bonds are issued to finance infrastructures and public works. This financial instrument, extensively debated in Italy and in Europe, seems designed to attract private investment and to ensure financing costs lower than bank loans. Therefore, it may be of particular relevance in a historical period (and in the future) when traditional sources of funding may not be able to provide the necessary resources to build infrastructures. Chapter 1 examines the legal framework of project bonds and innovations recently (2012-2013) introduced in the Italian law. Chapter 2 reviews the evolution of investments in infrastructure spending and the problem of private capital attraction. Chapter 3 analyses the public private partnership (PPP) and project finance Italian market in order to contextualize the possible role of project bonds. Chapter 4, correspondingly, examines the European and international profiles.

Suggested Citation

  • Andrea Sartori, 2013. "I project bond in Italia: problemi e prospettive," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn1303, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
    • Handle: RePEc:crn:wpaper:crn1303
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    References listed on IDEAS

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    1. Kappeler, Andreas & Nemoz, Mathieu, 2010. "Public-Private Partnerships in Europe - Before and During the Recent Financial Crisis," Economic and Financial Reports 2010/4, European Investment Bank, Economics Department.
    2. Franco Bassanini & Edoardo Reviglio, 2011. "Financial Stability, Fiscal Consolidation and Long-Term Investment after the Crisis," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2011(1), pages 31-75.
    3. Wagenvoort, Rien & de Nicola, Carlo & Kappeler, Andreas, 2010. "Infrastructure finance in Europe: Composition, evolution and crisis impact," EIB Papers 1/2010, European Investment Bank, Economics Department.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    project bond; obbligazioni di progetto; project financing; public private partnerships; PPP; partenariato pubblico privato; infrastrutture; investimenti; Europe 2020 Project Bond Initiative;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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