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Cohesion Policy Meets Heterogeneous Firms

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  • Loredana Fattorini
  • Mahdi Ghodsi
  • Armando Rungi

Abstract

In this study we empirically tested the effect of the EU cohesion policy using a unique dataset of 273,500 European manufacturing firms, combining regional policy data at the UN Nomenclature of Territorial Units for Statistics‐2 level with total factor productivity (TFP) at firm‐level. In a framework of heterogeneous firms and regions' different absorptive capacity, we show that financing by the European regional development fund aimed at direct investments in R&D is associated with the improvement of firms' productivity in a region, while funding designed to support overall business is not. The positive association with research, technology and development spending is stronger in the first quartile of the TFP distributions, for the firms that are the least efficient in a region. This appears to be in line with the priority of the policy, which aims at improving firms' competitiveness, especially that of small and medium enterprises. We finally argue that considering the heterogeneous distribution of firms' inefficiencies in a region is crucial to designing a better cohesion policy and to avoid a misallocation of resources it is better than looking at regional aggregates.

Suggested Citation

  • Loredana Fattorini & Mahdi Ghodsi & Armando Rungi, 2020. "Cohesion Policy Meets Heterogeneous Firms," Journal of Common Market Studies, Wiley Blackwell, vol. 58(4), pages 803-817, July.
    • Handle: RePEc:bla:jcmkts:v:58:y:2020:i:4:p:803-817
    DOI: 10.1111/jcms.12989
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    2. Gabriel, José Mesquita & dos Santos, João Pereira & Tavares, José, 2022. "European funds and firm performance: Evidence from a natural experiment," Ruhr Economic Papers 966, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Foreman-Peck, James & Zhou, Peng, 2022. "R&D subsidies and productivity in eastern European countries," Economic Systems, Elsevier, vol. 46(2).
    4. Monturano, Gianluca & Resce, Giuliano & Ventura, Marco, 2022. "Place-Based Policies and the location of economic activity: evidence from the Italian Strategy for Inner areas," Economics & Statistics Discussion Papers esdp22087, University of Molise, Department of Economics.
    5. Daniele Archibugi & Rinaldo Evangelista & Antonio Vezzani, 2021. "Centripetal and centrifugal forces in technological activities: linking regional innovation performances to EU Science & Technology policies," Working Papers 47, Birkbeck Centre for Innovation Management Research, revised Jan 2021.
    6. Srhoj, Stjepan & Walde, Janette, 2020. "Getting ready for EU Single Market: The effect of export-oriented grant schemes on firm performance," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 279-293.
    7. Mesquita, José & Pereira dos Santos, João & Tavares, José, 2023. "European Funds and Firm Performance: Evidence from a Natural Experiment," IZA Discussion Papers 16526, Institute of Labor Economics (IZA).
    8. Mahdi Ghodsi, 2020. "Is Austria’s economy locked-in in the CESEE region? Austria’s competitiveness at the micro-level," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(3), pages 669-693, August.
    9. Julia Bachtrögler & Harald Oberhofer, 2018. "Euroscepticism and EU Cohesion Policy: The Impact of Micro-Level Policy Effectiveness on Voting Behavior," Department of Economics Working Papers wuwp273, Vienna University of Economics and Business, Department of Economics.
    10. Atella, Vincenzo & Braione, Manuela & Ferrara, Giancarlo & Resce, Giuliano, 2023. "Cohesion Policy Funds and local government autonomy: Evidence from Italian municipalities," Socio-Economic Planning Sciences, Elsevier, vol. 87(PB).
    11. Ferraro, Simona & Männasoo, Kadri & Tasane, Helery, 2023. "How the EU Cohesion Policy targeted at R&D and innovation impacts the productivity, employment and exports of SMEs in Estonia," Evaluation and Program Planning, Elsevier, vol. 97(C).

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    More about this item

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • F15 - International Economics - - Trade - - - Economic Integration
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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