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Figure 4. Ease of access to the household credit market by region The figure shows an indicator of the ease with which a household obtains a loan across regions. It was produced by Guiso et al. (2004a) regressing an indicator for whether a consumer was rejected for a loan or discouraged from applying on a number of personal characteristics and regional dummies. The coefficients of the regional dummies are then used to obtain the indicator, computed as 1 – (value of the coefficient on the regional dummy)/(largest regional dummy coefficient). Access to credit is easier in darker regions. 47.20 47.20 58.59 37.43 43.49 52.26 40.99 36.01 51.61 39.38 6.70 54.71 58.75 35.91 21.25 22.28 2.70 16.52 34.95 0.0
Figure 5. Households’ propensity to save and consumer credit The figure shows the relation between households’ saving rate and the size of the consumer credit market. Data on consumer credit are from the ECB; data on households’ propensity to save are from Istat. Propensity to save 1980-97 20 18 16 14 12 10 IT BE PT 8 0 2 4 6 8 10 12 ES FR Consumer credit/ GDP ratio in 1997 IE AT DE
Page 1: REGULATION, FORMAL AND INFORMAL ENF
Page 5 and 6: 1. Introduction 1 The Italian house
Page 7 and 8: 11 average endowment of social capi
Page 9 and 10: 13 between a quarter and a third of
Page 11 and 12: 15 and objects”. 3 We pool data f
Page 13 and 14: 17 important ingredient for the dev
Page 15 and 16: 19 Europe, nearly three times the a
Page 17 and 18: 21 to obtain a lower-court sentence
Page 19 and 20: 23 The second important step in the
Page 21 and 22: 25 where tightly regulated. These t
Page 23 and 24: 27 that at the margin financial lib
Page 25 and 26: 29 transformation. Between 1996 and
Page 27 and 28: 31 similar to those reported in Bor
Page 29 and 30: References Alessie, R., Hochguertel
Page 31 and 32: Table 1. Household indebtedness Pan
Page 33 and 34: Table 3. Social trust and reliabili
Page 35 and 36: Table 5. Access to credit for Itali
Page 37 and 38: Figure 1. Loans to households as a
Page 39: Figure 3. The size of the household
Page 43 and 44: Figure 7. Social capital by provinc
Page 45 and 46: Figure 9. Number of banks in the ba
Page 47 and 48: 18 16 14 12 10 8 6 4 Figure 11. Int
Page 49 and 50: Figure A1. Distribution of househol

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