Gli effetti della legge 488/92: una valutazione dell'impatto occupazionale sulle imprese agevolate
AbstractLaw 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by SIE - Societa' Italiana degli Economisti (I) in its journal Rivista Italiana degli Economisti.
Volume (Year): 8 (2003)
Issue (Month): 2 (August)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- 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.
- 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.
- 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.
- 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.
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SIE).
If references are entirely missing, you can add them using this form.