Public subsidies, TFP and Efficiency: A tale of complex relationships

Volume: 46, Issue: 4, Pages: 751 - 767
Published: May 1, 2017
Abstract
This paper evaluates the impact of subsidies on the different components of TFP for granted firms’ long-term growth. The impact of capital subsidies is captured by a quasi–experimental method (Multiple RDD), exploiting the conditions for a local random experiment created by an Italian industrial policy. Results show that capital subsidies negatively affect TFP growth in the short term, and signals of positive effects appear only after 3-4 years....
Paper Details
Title
Public subsidies, TFP and Efficiency: A tale of complex relationships
Published Date
May 1, 2017
Volume
46
Issue
4
Pages
751 - 767
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