This paper investigates the effects of subsidies on the investment decisions of a sample of Italian manufacturing firms. We use survey information on firmsÂ’ subjective evaluations of the investment they would have undertaken without financing, finding that subsidies have limited effectiveness as a stimulus. Without subsidies, three-quarters of the firms financed would have made the same amount of investment at the same date; most of the remaining firms would have made the same amount of investment at a future date.
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Find related papers by JEL classification: R0 - Urban, Rural, and Regional Economics - - General H2 - Public Economics - - Taxation, Subsidies, and Revenue C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
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