Capital Markets: Perspectives over the Last Decade

This  book, published on the occasion of the 50th anniversary of Equita, is  the result of the 10-year collaboration between Equita and Bocconi to  carry out research and studies on capital markets. Well before the  outbreak of the COVID-19 pandemic, the overall evidence showed that  capital markets in Italy were still underdeveloped. In fact, the past  decade was characterized by serious weaknesses in the structure and  functioning of these markets. The lack of a robust financial  infrastructure of capital markets, the need to strengthen the investor  base, and flaws in the intermediation structure of capital markets were  clear factors of competitive disadvantage for Italy vis-à -vis other  European countries. Today, the financial and macroeconomic scenario has  dramatically changed. The geopolitical tensions brought about by the  Russian-Ukrainian war, the new inflationary scenario and the  quantitative tightening of central banks worldwide have put an end to a  period of inflated prices on financial assets. The effects on Italian  capital markets have been immediate, and rather painful.