EU regional policies aim to push regions into self-sustaining growth. Successful interventions would imply a higher growth rate, not only during the treatment (when the region benefits from the transfers), but also after the expiry of the program (when the financing terminates). We investigate...

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...

There is still little consensus on the effectiveness of business support policies. The empirical evaluation is complicated by the difficulty in achieving reliable identification. We analyse the impact of Law 488/92, the main Italian regional policy. We propose a new approach, named multiple...