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Ex-post evaluation of Territorial Integrated Projects in Italy: an empirical analysis at firm level

Listed author(s):
  • Alessandro Cusimano

    ()

  • Fabio Mazzola
Registered author(s):

    This paper focuses on the evaluation of an incentive program for firms implemented in southern Italy during the last decade. In the framework of the policy instruments aimed to reduce territorial disparities, and to support local development, territorial integrated projects (TIP) constituted a new operational mode to implement the Regional Operational Programmes. A TIP is defined as a set of inter-sectorial actions, closely consistent and linked among them, which converge towards the common objective of territorial development and justify a unitary implementation approach'. The resources allocated for each TIP may be aimed at three types of interventions such as infrastructures, public actions and aid schemes. Through an empirical analysis on the resources allocated to aid schemes, this paper investigates, at firm level, the possible different performances of the beneficiaries of subsidies provided by TIP, as compared to non-beneficiaries. In particular a subset of firms which received subsidies in the period 2002-2007 is considered, through the implementation of an empirical analysis which uses Propensity Score Matching methods and a Difference-in-Differences approach jointly. In detail, the treated group of firms receiving subsidies is compared with a control group, constructed among firms having similar characteristics to treated firms, but which did not receive any subsidization. Every treated firm is matched with one or more firms belonging to the control group, on the basis of the value assumed by the Propensity Score, given the pre-treatment characteristics of firms. After the calculation of the Propensity Score, the effect of the policy is determined through the computation of the Average Treatment Effect on the Treated (ATT) by using Nearest-Neighbor Matching, Radius Matching, Kernel Matching and Stratification Matching methods. The ATT is computed with respect to the difference between a post-treatment period and a pre-treatment period, and refers to selected outcome variables such as EBITDA, EBITDA per employee, ROI, Number of employees and Value added per employee. Results show mixed evidence on the effect of the program.

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    File URL: http://www-sre.wu.ac.at/ersa/ersaconfs/ersa13/ERSA2013_paper_01331.pdf
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    Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa13p1331.

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    Date of creation: Nov 2013
    Handle: RePEc:wiw:wiwrsa:ersa13p1331
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    1. Bernini, Cristina & Pellegrini, Guido, 2011. "How are growth and productivity in private firms affected by public subsidy? Evidence from a regional policy," Regional Science and Urban Economics, Elsevier, vol. 41(3), pages 253-265, May.
    2. Valentina Adorno & Cristina Bernini & Guido Pellegrini, 2007. "The Impact of Capital Subsidies: New Estimations under Continuous Treatment," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 66(1), pages 67-92, March.
    3. Accetturo, Antonio & de Blasio, Guido, 2012. "Policies for local development: An evaluation of Italy's “Patti Territoriali”," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 15-26.
    4. Cannari Luigi & D'Aurizio Leandro & de Blasio Guido, 2007. "The Effectiveness of Investment Subsidies: Evidence from Survey Data," Rivista italiana degli economisti, Società editrice il Mulino, issue 3, pages 329-346.
    5. Augusto Cerqua & Guido Pellegrini, 2011. "Are the subsidies to private capital useful? A Multiple Regression Discontinuity Design Approach," Working Papers 12, Doctoral School of Economics, Sapienza University of Rome, revised 2011.
    6. Bronzini, Raffaello & de Blasio, Guido, 2006. "Evaluating the impact of investment incentives: The case of Italy's Law 488/1992," Journal of Urban Economics, Elsevier, vol. 60(2), pages 327-349, September.
    7. Sascha O. Becker & Andrea Ichino, 2002. "Estimation of average treatment effects based on propensity scores," Stata Journal, StataCorp LP, vol. 2(4), pages 358-377, November.
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