Bernini, Cristina; Cerqua, Augusto; Pellegrini, Guido - 2015
The paper analyses the causal effect of capital subsidies on firms' efficiency and productivity by exploiting the … allocating subsidies to projects allows us to use a regression discontinuity design (henceforth RDD). We show that a suitable … the effects of the subsidies after 5 years from the subsidized investment. The results show that , after four years, the …