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The Effects of subsidies on investment: an empirical evaluation on ict in Italy

Atzeni, Gianfranco Enrico and Carboni, Oliviero Antonio (2006) The Effects of subsidies on investment: an empirical evaluation on ict in Italy. Revue de l'OFCE, Vol. 97 bis (5), p. 279-302. eISSN 1777-5647. Article.

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Abstract

Working on a micro based data set this paper attempts to shed light on the effects of public grants on firms’ investments, with particular emphasis on ICT adoption. The results show that adoption of ICT is affected by both the industry and firm characteristics. We examine particularly whether subsidies are important in this process and whether there are differences based on firm size. A matching estimator for the average treatment effect is applied to explore the effectiveness of subsidies. Regardless of sector we find evidence that subsidies on average have a significant impact on both overall investment and ICT investment. The impact is more pronounced for small firms and insignificant for the largest firms. Subsidies spill over both to internal and external financial resources. Given the small average size of firms in Italy, we conclude that small firms should receive subsidies to stimulate investment.

Item Type:Article
ID Code:2324
Status:Published
Refereed:Yes
Uncontrolled Keywords:Information and communication technologies, subsidies, treatment effect, nearest neighbour matching estimator
Subjects:Area 13 - Scienze economiche e statistiche > SECS-P/01 Economia politica
Divisions:001 Università di Sassari > 01 Dipartimenti > Economia, impresa, regolamentazione
Publisher:Observatoire français des conjonctures économiques (OFCE)
eISSN:1777-5647
Deposited On:18 Aug 2009 10:07

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