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

被引：63
作者：
Bernini, Cristina [1 ,2 ]
Cerqua, Augusto [3 ]
Pellegrini, Guido [4 ]
机构：
[1] Univ Bologna, Dept Stat Sci, Via Belle Arti 41, I-40125 Bologna, Italy
[2] Univ Bologna, Ctr Adv Studies Tourism, Ptta Teatini 10, I-47921 Rimini, Italy
[3] Univ Westminster, Dept Econ & Quantitat Methods, 35 Marylebone Rd, London NW1 5LS, England
[4] Sapienza Univ Rome, Dept Social & Econ Sci, Ple Aldo Moro 5, I-00185 Rome, Italy
来源：
RESEARCH POLICY | 2017年 / 46卷 / 04期
关键词：
Policy evaluation; Public subsidies; TFP decomposition; Stochastic frontier model; Regression discontinuity design; REGRESSION DISCONTINUITY DESIGN; TOTAL FACTOR PRODUCTIVITY; REGIONAL SELECTIVE ASSISTANCE; CAPITAL SUBSIDIES; LEVEL EVIDENCE; GROWTH; IMPACT; POLICIES; DECOMPOSITION; ESTIMATORS;
D O I：
10.1016/j.respol.2017.02.001
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
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. This positive medium-long term impact comes especially through technological change and not through scale impact change, as may have been expected. (C) 2017 Elsevier B.V. All rights reserved.
引用
收藏
页码：751 / 767
页数：17
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