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Vertical industrial policy in the EU: an empirical analysis of the effectiveness of state aid

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  • Gual, Jordi

    ()
    (IESE Business School, Barcelona)

  • Jodar, Sandra

    (Student in GREMAQ, University of Toulouse)

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    Abstract

    This paper assesses the effectiveness of vertical industrial policies within the European Union. Vertical industrial policy is defined as government support of specific firms or industries ("picking winners" or "supporting losers"). It is measured as state aid granted by Member States to the manufacturing sectors, with the aim to analyse to what extent this government intervention affects the growth of multifactor productivity (MFP) in manufacturing. The analysis is conducted with both sectoral and horizontal aid, since in many cases vertical aid is disguised as aid pursuing horizontal objectives. Controlling for the potential endogeneity of state aid policy, the results indicate that vertical state aid contributes positively to MFP growth.

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    Bibliographic Info

    Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 10/2006.

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    Length: 26 pages
    Date of creation: 26 Jun 2006
    Date of revision:
    Handle: RePEc:ris:eibpap:2006_010

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    Related research

    Keywords: Industrial policy; vertical support; multifactor productivity;

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    Cited by:
    1. Pierre-André Buigues & Khalid Sekkat, 2011. "Public Subsidies to Business: An International Comparison," Journal of Industry, Competition and Trade, Springer, vol. 11(1), pages 1-24, March.
    2. Kolesnikova, Irina, 2010. "State Aid for Industrial Enterprises in Belarus: Remedy or Poison?," MPRA Paper 22403, University Library of Munich, Germany.
    3. Augusto Ninni, 2006. "The “New” European Industrial Policy in Europe: consequences for the Italian industrial policy," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 4, November.

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