RELTIF: Restarting European Long-Term Investment Finance: A Green Paper Discussion Document
Restarting European Long-Term Investment Finance (RELTIF) is a joint project organised by the Centre for Economic Policy Research and Assonime, and supported by Emittenti Titoli. It was launched in response to the low level of investment that has been observed across Europe and the policies that have been adopted to deal with it.
This Green Paper is the first output of the RELTIF project and sets the stage for its future research. The paper describes the significant changes in financing of corporations that have occurred in Europe over the last few years and the reasons for them. It considers the extent to which low levels of investment are attributable to deficient demand by companies or inadequate supply of finance by financial institutions and markets. It observes marked variations in the nature and extent of problems across companies and countries and suggests that the correct formulation of policy requires a better understanding of the underlying causes of them than has existed to date.
Led by Professor Colin Mayer of the University of Oxford and CEPR, the RELTIF project seeks to encourage debate about the downturn in longterm investment finance in Europe. Authored by leading economists, the Green Paper invites suggestions from readers about the issues raised in the paper to help define the next phase of research of the RELTIF project.