In relation to the size of the economy, Italy’s stock exchange is much smaller than the average for the advanced countries. Development of the capital markets is necessary for the growth of firms, and vice versa. The markets play a crucial role in mobilizing financial resources.
The total financial wealth of Italian households is large in relation to GDP and also by comparison with the other major European countries. Although the behaviour of savers has changed in the last few years, the diversification of households’ portfolios is still limited, to the detriment of the balance between returns on savings and protection from risk.