Bernini, C., Cerqua, A. and Pellegrini, G. 2017. Public subsidies, TFP and Efficiency: A tale of complex relationships. Research Policy. 46 (4), pp. 751-767. https://doi.org/10.1016/j.respol.2017.02.001
| Title | Public subsidies, TFP and Efficiency: A tale of complex relationships |
|---|---|
| Type | Journal article |
| Authors | Bernini, C., Cerqua, A. and Pellegrini, G. |
| Abstract | This paper evaluates the impact of subsidies on the different components of TFP for granted firms’ long-term growth. The impact of capital subsidies is captured by a quasi–experimental method (Multiple RDD), exploiting the conditions for a local random experiment created by an Italian industrial policy. Results show that capital subsidies negatively affect TFP growth in the short term, and signals of positive effects appear only after 3-4 years. This positive medium-long term impact comes especially through technological change and not through scale impact change, as may have been expected. |
| Keywords | Policy evaluation, Public subsidies, TFP decomposition, Stochastic frontier model, Regression discontinuity design |
| Journal | Research Policy |
| Journal citation | 46 (4), pp. 751-767 |
| ISSN | 0048-7333 |
| Year | 2017 |
| Publisher | Elsevier |
| Accepted author manuscript | |
| Digital Object Identifier (DOI) | https://doi.org/10.1016/j.respol.2017.02.001 |
| Publication dates | |
| Published online | 21 Feb 2017 |
| Published | 21 Feb 2017 |
| License | CC BY-NC-ND 4.0 |