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Assessing the effect of the amount of financial aids to Piedmont firms using the generalized propensity score

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  • Michela Bia

    ()

  • Alessandra Mattei

Abstract

Regional and national development policies play an important role to support local enterprises in Italy. The amount of financial aid may be a key feature for firms’ employment policies. We study the impact on employment of the amount of financial aid attributed to enterprises located in Piedmont, a region in northern Italy, analysing small-sized firms and medium- or large-sized firms separately. We apply generalized propensity score methods under the unconfoundedness assumption that adjusting for differences in a set of observed pre-treatment variables removes all biases in comparisons by different amounts of financial aid. We find that the estimated effects are increasing with amount of financial aid for both small-sized and medium- or large-sized firms, whereas the marginal effects of additional incentives are decreasing with amount of financial aid for small-sized firms, and have an inverse J-shape for medium- or large-sized firms. Copyright Springer-Verlag 2012

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File URL: http://hdl.handle.net/10.1007/s10260-012-0193-4
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Bibliographic Info

Article provided by Springer in its journal Statistical Methods & Applications.

Volume (Year): 21 (2012)
Issue (Month): 4 (November)
Pages: 485-516

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Handle: RePEc:spr:stmapp:v:21:y:2012:i:4:p:485-516

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Related research

Keywords: Continuous treatment; Dose-response function; Financialaid to firms; Generalized propensity score; Non-experimental methods; Policy evaluation;

References

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  1. Kelly Edmiston, 2007. "The role of small and large businesses in economic development," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 73-97.
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  5. Kluve, Jochen & Schneider, Hilmar & Uhlendorff, Arne & Zhao, Zhong, 2007. "Evaluating continuous training programs using the generalized propensity score1," Technical Reports 2007,39, Technische Universität Dortmund, Sonderforschungsbereich 475: Komplexitätsreduktion in multivariaten Datenstrukturen.
  6. Pellegrini Guido & Carlucci Carla, 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.
  7. Kluve, Jochen & Schneider, Hilmar & Uhlendorff, Arne & Zhao, Zhong, 2007. "Evaluating Continuous Training Programs Using the Generalized Propensity Score," IZA Discussion Papers 3255, Institute for the Study of Labor (IZA).
  8. Pellegrini Guido, 2001. "La struttura produttiva delle piccole e medie imprese italiane: il modello dei distretti," Banca Impresa Società, Società editrice il Mulino, issue 2, pages 237-248.
  9. Andrea Ichino & Fabrizia Mealli & Tommaso Nannicini, 2008. "From temporary help jobs to permanent employment: what can we learn from matching estimators and their sensitivity?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 23(3), pages 305-327.
  10. Guildo W. Imbens, 2003. "Sensitivity to Exogeneity Assumptions in Program Evaluation," American Economic Review, American Economic Association, vol. 93(2), pages 126-132, May.
  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.
  12. Michela Bia & Alessandra Mattei, 2008. "A Stata package for the estimation of the dose–response function through adjustment for the generalized propensity score," Stata Journal, StataCorp LP, vol. 8(3), pages 354-373, September.
  13. Alberto Abadie, 2005. "Semiparametric Difference-in-Differences Estimators," Review of Economic Studies, Oxford University Press, vol. 72(1), pages 1-19.
  14. Oscar A. Mitnik, 2007. "Intergenerational transmission of welfare dependency: The effects of length of exposure," Working Papers 0715, University of Miami, Department of Economics.
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Citations

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Cited by:
  1. BIA Michela & FLORES Carlos A. & FLORES-LAGUNES Alfonso & MATTEI Alessandra, 2013. "A Stata package for the application of semiparametric estimators of dose-response functions," CEPS/INSTEAD Working Paper Series 2013-07, CEPS/INSTEAD.
  2. 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.

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