European Notarial Network

At the French Association of Law and Economic (AFED) conference held in Nice on 19-20 October, the ENN Interlocutor for Italy and economist Antonio Cappiello presented a study he co-authored with Claudio Ceccarelli, Director of the Italian Institute of Statistics. Their research examined the impact of notarial regulation on the economy, revealing several key findings:

Consumer Cost and Regulation: The study found that in well-regulated notarial systems, consumer costs during real estate transfers are lower, showing an inverse correlation with the level of notarial regulation.
Efficiency and Quality: Highly regulated notarial systems result in faster and higher-quality real estate transfers, benefiting both buyers and sellers.
Combating Money Laundering: Notaries are vital in the fight against money laundering. The research indicates that well-regulated systems tend to have better compliance with international standards.
Benefits for the State and Society: Notaries, as qualified legal professionals, contribute to legal compliance, credible public registers, and serve as ex ante judges. This benefits the State, transaction participants, and third parties like banks and creditors.

In summary, the study underscores the positive impact of notarial regulation on various aspects of the economy and society, challenging the notion that it hinders economic growth.

For more information:

Study on the OECD PMR indicator applied to notaries (A. Cappiello)

In-depth analysis relating to the homogeneity of the PMR notarial sample (by C. Ceccarelli and A. Cappiello)

Study on the performance of civil law notaries: an analysis of the World Bank's DB indicators shows that countries that adopt civil law notaries for real estate transactions perform better (reduced costs and delays; higher quality) by A. Cappiello

ENN Interlocutor Antonio Cappiello presents his economic study of the notarial profession at the French Association of Law and Economic (AFED) conference