Evaluating Public Support to the Investment Activities of Business Firms: A Multilevel Meta-Regression Analysis of Italian Studies

Bocci, Chiara; Caloffi, Annalisa; Sterlacchini, Alessandro

doi:10.1007/s40797-021-00170-3

Cited by 3 publications

(2 citation statements)

References 57 publications

(56 reference statements)

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“…We aim to go beyond the traditional analyses focusing on average treatment effects of the policy as the latter does not take into consideration that the treatment is not equal for all the firms. In this respect, it is worth noting that while a growing literature has explored the effect of regional policies (Dimos and Pugh 2016;Caloffi et al, 2016;García-Quevedo 2004), only a handful of studies (Marino et al 2016;Dai and Cheng 2015) have tried to cope with a more fined grained analysis of the effects of regional R&D programs. Therefore, the evidence about the effect of an additional euro on R&D additionality is scant and the quest to expand our understanding of this theme is mounting.…”

Section: Introductionmentioning

confidence: 99%

“…As for the effectiveness of public subsidies on private R&D spending, the number of scientific contributions has been growing in the last decades thanks to the development and refinement of methods for program evaluation in econometrics (Imbens and Wooldridge 2009;Imbens and Rubin 2015). This strand of research (David, Hall and Toole 2000;Garcia-Quevedo 2004;Caloffi et al, 2016;Dimos and Pugh 2016) seeks to determine whether subsidies prompt additional firms' investments in R&D, or they only substitute for investments that firms would have made anyway (infra-marginal projects).…”

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confidence: 99%

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A dose–response evaluation of a regional R&D subsidies policy

Cerulli

Corsino

Gabriele

et al. 2020

Economics of Innovation and New Technology

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This paper evaluates the effects of a regional R&D policy in the Italian province of Trento from 2002 to 2007, an ideal testing ground for the role of local government and the effectiveness of an R&D place-based policy. Exploiting a unique database and using a counterfactual dose-response regression model, we perform an evaluation exercise of policy targets concerning employment, fixed and intangible assets.We find that two years after the award date, there exists a range of subsidy doses that is effective in stimulating employment and intangible assets growth. Instead, we do not find any additionality of the policy on fixed assets. At longer time span, i.e. four years after the award, the effect on employment growth persists and we do observe a mild effect on labor quality for intermediate grants spending. Moreover, the effect on intangible assets spending growth is also persistent for a similar interval of R&D subsidies amounts. We discuss the impact with respect to the aims of the policy maker, suggesting that policy makers should fine tune the intensity of the subsidy to maximize the overall policy impact.

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Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

A dose–response evaluation of a regional R&D subsidies policy

Cerulli

Corsino

Gabriele

et al. 2020

Economics of Innovation and New Technology

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Investment Subsidies Effectiveness: Evidence from a Regional Program

Chinetti

2022

Ital Econ J

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I provide novel empirical evidence on the effectiveness of public funding in lagging behind areas by investigating the effect of a subsidy program implemented in the Campania region (South Italy) and targeting SMEs. By relying on a Difference-in-Differences approach, my estimates demonstrate that the regional program produces a sizable increase in private firms’ innovative investment spending. However, I show also large heterogeneity in the firms’ response. In particular, I find that the positive effect on investment, compatible with the input-additionality hypothesis, comes from medium-large firms and low-tech medium-large enterprises. Finally, I show that the program has considerable indirect effects on medium-large low tech service firms’ labour demand but not on overall firms’ productivity.

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Mitigare i divari regionali negli investimenti: un'analisi del credito di imposta per il Mezzogiorno

Gastaldi¹,

Palmieri²,

Pazienza³

et al. 2023

PRISMA Economia - Società - Lavoro

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La valutazione degli incentivi agli investimenti è fondamentale sia sotto il profilo della politica industriale, per scegliere i meccanismi che più incidono sulle decisioni delle imprese, ma anche sotto il profilo della finanza pubblica, perché è di notevole importanza comprendere se le risorse stanziate al momento del varo della policy corrispondano alle risorse effettivamente impiegate. Questo lavoro procede a un esercizio di valutazione ex post della politica del credito di imposta sugli investimenti riservato alle imprese operanti nelle regioni meridionali tra il 2016 e il 2019, sulla base delle informazioni estraibili dal modello di microsimulazione MEDITA. Le analisi consentono di verificare una parziale efficacia dello strumento utilizzato sul tasso di investimento delle imprese.

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Evaluating Public Support to the Investment Activities of Business Firms: A Multilevel Meta-Regression Analysis of Italian Studies

Cited by 3 publications

References 57 publications

A dose–response evaluation of a regional R&D subsidies policy

A dose–response evaluation of a regional R&D subsidies policy

Investment Subsidies Effectiveness: Evidence from a Regional Program

Mitigare i divari regionali negli investimenti: un'analisi del credito di imposta per il Mezzogiorno

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