Italy remains weak in the ratio between the credit provided by banks or other financial intermediaries and the gross domestic product: it is at 123%, compared to 131% in Germany and the United States, United Kingdom and Japan which are placed in a narrow band with data around 160 % and constant over the last decade.
These are data from a report from the Studies and Research Directorate of Intesa Sanpaolo, according to which Canada stands out in this parameter with a ratio of 246% between credit and GDP.
This ratio "is a fundamental indicator for measuring the degree of financial intermediation, which measures how much credit supports the economic activity of a country: the index is in slight decline especially in advanced countries and emerging Europe, after the peak at the end of 2020 supported by the numerous financial measures to support the economy in serious difficulty due to Covid-19", states the report.
"After the financial crises of recent decades, starting from the international one of 2008 with the bankruptcy of numerous banks, reflection on the role of finance, and in particular of banks, in supporting the economy has once again been forcefully addressed. Even the wider use of technology could reduce the intervention of intermediaries, favoring the direct relationship between sectors in surplus and sectors in financial deficit", states the Studies and Research Department of Intesa Sanpaolo, according to which however "the intermediaries' ability to evaluate risks guarantees them the maintenance of a role fundamental in the intermediation process".
In emerging countries, while Latin America and emerging Europe show modest values (75% and 98% respectively as of June 2023) and substantially stable in the last decade, the data referring to Asia-Pacific are very high (199% as of June 2023) and still growing.
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