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Gli effetti della legge 488/92: una valutazione dell'impatto occupazionale sulle imprese agevolate

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  • Guido Pellegrini
  • Carla Carlucci

Abstract

Law 488/92 is the principal instrument to promote private accumulation in the less developed areas of Italy. The selection procedure is based on 3 indicators: the share of owners' founds on total investment; the new job creation by unity of investment; the cut on the maximum possible capital aid accepted by the firm, that mimics an auction mechanism. Is this procedure efficient, reducing the amount of incentive by units of investment but nevertheless financing additional private capital formation and employment? The paper investigates the impact of incentives on employment in subsidized firm using a non-experimental design. We want to estimate if employment creation in subsidized firms is additional compared to the non-subsidized ones. Several different econometric approaches are used in order to tackle the selection bias: a diff-in-diff model with and without the Heckman correction for sample selection; a random growth model; a discontinuity design regression model. The results show a positive, statistically significant and robust impact of the incentive by 488/92 on employment: the subsidized firms present a employment dynamics from 3 to 15% points higher than in non subsidized ones.

Suggested Citation

  • Guido Pellegrini & Carla Carlucci, 2003. "Gli effetti della legge 488/92: una valutazione dell'impatto occupazionale sulle imprese agevolate," Rivista italiana degli economisti, Società editrice il Mulino, issue 2, pages 267-286.
    • Handle: RePEc:mul:jqat1f:doi:10.1427/11472:y:2003:i:2:p:267-286
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    Cited by:

    1. Guido Pellegrini & Marusca De Castris, 2005. "Complementarity and substitution among industrial incentive schemes - measures targeted to SME versus measures targeted to large projects," ERSA conference papers ersa05p755, European Regional Science Association.
    2. Bruno Chiarini & Elisabetta Marzano & Francesco Busato & Pasquale De Angelis, 2007. "State Aid Policies and Underground Activities," Discussion Papers 4_2007, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    3. Bernini, Cristina & Pellegrini, Guido, 2011. "How are growth and productivity in private firms affected by public subsidy? Evidence from a regional policy," Regional Science and Urban Economics, Elsevier, vol. 41(3), pages 253-265, May.
    4. Cerqua, Augusto & Pellegrini, Guido, 2014. "Do subsidies to private capital boost firms' growth? A multiple regression discontinuity design approach," Journal of Public Economics, Elsevier, vol. 109(C), pages 114-126.
    5. Destefanis, Sergio & Storti, Giuseppe, 2005. "Evaluating Business Incentives Through DEA. An Analysis on Capitalia Firm Data," MPRA Paper 62336, University Library of Munich, Germany.
    6. Bernini, Cristina & Pellegrini, Guido, 2013. "Is subsidising tourism firms an effective use of public funds?," Tourism Management, Elsevier, vol. 35(C), pages 156-167.
    7. Michela Bia & Roberto Leombruni & Pierre-Jean Messe, 2009. "Young in-Old out: a new evaluation based on Generalized Propensity Score," LABORatorio R. Revelli Working Papers Series 93, LABORatorio R. Revelli, Centre for Employment Studies.
    8. Arpino, Bruno & Mattei, Alessandra, 2013. "Assessing the Impact of Financial Aids to Firms: Causal Inference in the presence of Interference," MPRA Paper 51795, University Library of Munich, Germany.
    9. Guido Pellegrini & Augusto Cerqua, 2011. "Are the subsidies to private capital useful? A Multiple Regression Discontinuity Design Approach1," ERSA conference papers ersa11p1323, European Regional Science Association.
    10. Michela Bia & Alessandra Mattei, 2012. "Assessing the effect of the amount of financial aids to Piedmont firms using the generalized propensity score," Statistical Methods & Applications, Springer;Società Italiana di Statistica, vol. 21(4), pages 485-516, November.
    11. Valentina Adorno & Cristina Bernini & Guido Pellegrini, 2007. "The Impact of Capital Subsidies: New Estimations under Continuous Treatment," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 66(1), pages 67-92, March.

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