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The paper analyses the causal effect of capital subsidies on firms' efficiency and productivity by exploiting the … evolves over time, enabling to decompose productivity changes into the change in technical efficiency (i.e., measuring the … the roles of technical progress and technical efficiency change, or scale and allocative efficiency change as determinants …
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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...
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