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The Effectiveness of Investment Subsidies: Evidence from Survey Data

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  • Luigi Cannari
  • Leandro D'Aurizio
  • Guido de Blasio

Abstract

This paper investigates the effects of investment subsidies on the accumulation decisions of a sample of Italian manufacturing firms. We use survey information on the subjective evaluation of the investment activity that the recipient firm would have undertaken, had it not been financed. We find that the effectiveness of subsidies to stimulate investment is limited. Without subsidies, three quarters of the financed firms would have carried out the same amount of investment at the same date; the remaining share of firms would have mostly carried out the same amount of investment in a future date.

Suggested Citation

  • Luigi Cannari & Leandro D'Aurizio & Guido de Blasio, 2007. "The Effectiveness of Investment Subsidies: Evidence from Survey Data," Rivista italiana degli economisti, Società editrice il Mulino, issue 3, pages 329-346.
  • Handle: RePEc:mul:jqat1f:doi:10.1427/27701:y:2007:i:3:p:329-346
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    1. repec:taf:regstd:v:50:y:2016:i:9:p:1579-1594 is not listed on IDEAS
    2. Antonio Affuso & Guido Nannariello, 2014. "Riforma degli incentivi e aziende di servizi: una quantificazione delle risorse," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2014(1), pages 7-27.
    3. Peter Bolcha & Alena Zemplinerová, 2012. "Dopad investičních pobídek na objem investic v České republice
      [The Effect of Investment Incentives on Investment in Czech Republic]
      ," Politická ekonomie, University of Economics, Prague, vol. 2012(1), pages 81-100.
    4. Federico Biagi & Daniele Bondonio & Alberto Martini, 2015. "Counterfactual Impact Evaluation of Enterprise Support Programmes. Evidence from a Decade of Subsidies to Italian Firm," ERSA conference papers ersa15p1619, European Regional Science Association.
    5. Pavlina R. Tcherneva, 2012. "Inflationary and Distributional Effects of Alternative Fiscal Policies: An Augmented Minskyan-Kaleckian Model," Economics Working Paper Archive wp_706, Levy Economics Institute.
    6. Jerzy Michalek & Pavel Ciaian & D'Artis Kancs, 2016. "Investment Crowding Out: Firm-Level Evidence from Northern Germany," Regional Studies, Taylor & Francis Journals, vol. 50(9), pages 1579-1594, September.
    7. Andries Brandsma & d'Artis Kancs & Pavel Ciaian, 2013. "The Role of Additionality in the EU Cohesion Policies: An Example of Firm-Level Investment Support," European Planning Studies, Taylor & Francis Journals, vol. 21(6), pages 838-853, June.
    8. Annamaria Nifo & Gaetano Vecchione, 2015. "A quali imprese vanno i sussidi pubblici? evidenza dall’industria manifatturiera italiana," RIVISTA DI ECONOMIA E STATISTICA DEL TERRITORIO, FrancoAngeli Editore, vol. 2015(3), pages 5-28.
    9. Leandro D�Aurizio & Marco Marinucci, 2013. "Italian firms� innovation strategies in 2008-2010," Questioni di Economia e Finanza (Occasional Papers) 197, Bank of Italy, Economic Research and International Relations Area.
    10. Alessandro Cusimano & Fabio Mazzola, 2013. "Ex-post evaluation of Territorial Integrated Projects in Italy: an empirical analysis at firm level," ERSA conference papers ersa13p1331, European Regional Science Association.
    11. Martina Cioni & Davide Conforti, 2007. "The effectiveness of regional policies for innovation: an empirical investigation," Department of Economics University of Siena 508, Department of Economics, University of Siena.

    More about this item

    JEL classification:

    • R0 - Urban, Rural, Regional, Real Estate, and Transportation 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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