Marianna Caccavaio is an Economist in the Financial Stability Directorate of the DG for Economics, Statistics and Research of the Bank of Italy. Her main interests are on international banking, financial economics and the Chinese economy. Prior to joining the Bank of Italy, she was a Research Fellow at LUISS and a member of the International Policy Analysis Division at the European Central Bank. She holds a Ph.D. in Economics from Bocconi University.