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The role of public grants in shaping business performance: evidence from Croatia’s rural development program

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  • Marin Kukoč
  • Bruno Škrinjarić
  • Josip Juračak

Abstract

This study utilises a quasi-experimental approach to investigate the effects of public grants on the agri-food sector in Croatia. By comparing key business performance indicators between firms that received grants and similar firms that did not, this assessment aims to discern the effects of the grants. Employing a combination of propensity score matching and difference-in-differences methods, the analysis spans the years leading up to and four years following grant reception. Our results reveal diverse impacts of the analysed grants across timeframes, performance metrics, and company groups. Generally, positive effects were observed in all four years post-treatment for increased employment. Conversely, the decline in indebtedness, as reflected by the decreasing debt ratio, was most pronounced in the initial two years following treatment, gradually diminishing thereafter.

Suggested Citation

  • Marin Kukoč & Bruno Škrinjarić & Josip Juračak, 2025. "The role of public grants in shaping business performance: evidence from Croatia’s rural development program," Post-Communist Economies, Taylor & Francis Journals, vol. 37(7), pages 736-750, October.
    • Handle: RePEc:taf:pocoec:v:37:y:2025:i:7:p:736-750
    DOI: 10.1080/14631377.2025.2470003
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