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Do European Funds support the formation of firms? New evidence from Italy

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  • Andrea Ciffolilli
  • Eleonora Cutrini
  • Marco Pompili

Abstract

During the Great Recession, European Cohesion Policy had an important countercyclical function. It contributed to resilience and supported economic development at the local level. This paper investigates spatial variation in new firm formation in Italy and studies the role of the European Regional Development Fund (ERDF) in the period 2007–2013. Our analysis confirms that per capita expenditure of EU funds is positively and significantly correlated with new firm formation in the aftermath of the international crisis. In line with the existing literature, the analysis confirms that formal education, unemployment, and the size of the regional economy are important drivers in new business formation. Our findings differ partially from the existing literature as regards the implications of firm size and industrial specialization. Service‐oriented provinces and areas dominated by large and medium‐sized firms are more likely to foster entrepreneurial capacity, presumably due to spin‐offs and the effects on the network of suppliers. Durante la Gran Recesión, la Política de Cohesión Europea tuvo una importante función anticíclica. Esta política contribuyó a la resiliencia y apoyó el desarrollo económico a nivel local. Este artículo investiga la variación espacial en la formación de nuevas empresas en Italia y estudia el papel del Fondo Europeo de Desarrollo Regional (FEDER) en el período 2007–2013. El análisis confirma que el gasto per cápita de los fondos de la UE está correlacionado positiva y significativamente con la creación de nuevas empresas tras la crisis internacional. De acuerdo con la literatura existente, el análisis confirma que la educación formal, el desempleo y el tamaño de la economía regional son impulsores importantes de la formación de nuevas empresas. Nuestros hallazgos difieren parcialmente de la literatura existente en cuanto a las implicaciones del tamaño de la empresa y la especialización industrial. Las provincias orientadas hacia los servicios y las áreas dominadas por grandes y medianas empresas es más probable que fomenten la capacidad empresarial, presumiblemente debido a las empresas derivadas y a los efectos en la red de proveedores. グレート・リセッションの間、欧州結束政策はカウンターシクリカルな重要な働きをした。レジリエンスに貢献し、地域レベルの経済発展の支えとなった。本稿では、イタリアの新しい企業の形式における空間的バリエーションと、2007~2013年のヨーロッパ地域開発基金(European Regional Development Fund:ERDF)の役割について検討する。分析の結果から、EU基金の一人あたりの支出は、世界金融危機の影響により、企業の新形式に対しプラスかつ有意な相関性があることが確認される。また、既存研究と同じく、フォーマル教育、失業、地域経済の規模が新しい業態の重要な推進要因であることが確認される。我々の所見は、企業の規模と産業特化のインプリケーションに関して、既存研究とは部分的に異なるものである。サービス業志向の県と大規模および中規模企業が優勢な地域は、おそらくは、スピンオフやサプライヤーのネットワークに対する影響が原因となって、アントレプレナー的キャパシティが育成される傾向にある。

Suggested Citation

  • Andrea Ciffolilli & Eleonora Cutrini & Marco Pompili, 2019. "Do European Funds support the formation of firms? New evidence from Italy," Regional Science Policy & Practice, Wiley Blackwell, vol. 11(3), pages 549-569, August.
  • Handle: RePEc:bla:rgscpp:v:11:y:2019:i:3:p:549-569
    DOI: 10.1111/rsp3.12205
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    File URL: https://doi.org/10.1111/rsp3.12205
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