Assessing the effect of the amount of financial aids to Piedmont firms using the generalized propensity score |
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Authors: | Michela Bia Alessandra Mattei |
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Affiliation: | 1. CEPS/INSTEAD, 44 rue Emile Mark, 4620, Differdange, Luxembourg 2. Department of Statistics, University of Florence, Viale Morgagni, 59, Florence, Italy
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Abstract: | Regional and national development policies play an important role to support local enterprises in Italy. The amount of financial aid may be a key feature for firms’ employment policies. We study the impact on employment of the amount of financial aid attributed to enterprises located in Piedmont, a region in northern Italy, analysing small-sized firms and medium- or large-sized firms separately. We apply generalized propensity score methods under the unconfoundedness assumption that adjusting for differences in a set of observed pre-treatment variables removes all biases in comparisons by different amounts of financial aid. We find that the estimated effects are increasing with amount of financial aid for both small-sized and medium- or large-sized firms, whereas the marginal effects of additional incentives are decreasing with amount of financial aid for small-sized firms, and have an inverse J-shape for medium- or large-sized firms. |
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