Tuesday , February 7 2023

Family wealth, Bankitalia study: "In 2017, investments in government bonds dropped to the lowest level"


In 2017 riches total from for families The Italians were just below 10 thousand billion euro with a rise in the financial sector (shares, bonds and deposits of EUR 4.4 billion) compared to real home and land for a value of 6.3 billion). But I government bonds their portfolio in this year was only 121.7 billion euros, compared to 273.9 billion in 2007 and in 1996 reached 363.2 billion, the historical series maximum Bankitalia. This follows from the publication of Via Nazionale, edited by Diego Caprara, Riccardo De Bonnie and Luigi Infante, the Statistical Analysis Service of the Economics and Statistics Department of the Statistical Analysis Service.

The analysis shows that real wealth is 5.5 times higher income available and financial 3.8 times. The total net profit, taking into account debts, is 8.5 times higher than income. The Italian figure is similar to France and Spain, but funding is dominant in the United States and Germany. In 1950, Italian wealth was largely represented by real activities, which exceeded the available income by more than six times. Then with finalization economic "financial assets increased almost unchanged despite the small episodes of the crisis: we can remember the negative effects on share prices resulting from the nationalization of electricity and the Enel Foundation in 1962 and the difficulties in the second half of the 1970s and in 1987."

According to the authors of the article, true riches have always been superior to financial wealth, with the exception of the second half of the nineties of the 20th century, characterized by the boom of the "new economy". Since the beginning of 2000, two summaries had different trends. Financial assets increased until 2006 crisis financial global and debts the lords ceased their growth, and the recovery after 2011 has not yet returned before the first crisis of 2006. On the contrary, the ratio of real wealth to disposable income has increased by 2012, and then declined due to a fall in prices from the home. "
In the international comparison, true wealth is still more than a wealth of wealth not only in Italy, but also in Spain and France. Both indicators are equivalent in the United Kingdom. In contrast, the wealth of households in the United States, Canada, Japan and Germany is lower than financial wealth.

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