Cohesion policy meets heterogeneous firms
In this paper, we empirically test the effects of the EU's "cohesion policy" on the performance of 273,500 European manufacturing firms after combining regional policy data at NUTS 2 level with firm-level data. In a framework of heterogeneous firms and different absorptive capacity of...
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| Sprache: | eng |
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Wien
Verein "Wiener Institut für Internationale Wirtschaftsvergleiche" (wiiw)
2018
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| Schriftenreihe: | Working paper / WIIW, The Vienna Institute for International Economic Studies
142 (March 2018) |
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Tag hinzufügen | Zusammenfassung: | In this paper, we empirically test the effects of the EU's "cohesion policy" on the performance of 273,500 European manufacturing firms after combining regional policy data at NUTS 2 level with firm-level data. In a framework of heterogeneous firms and different absorptive capacity of regions, we show that the financing of "cohesion policy" by the European Regional Development Fund (ERDF) aimed at direct investments in R&D correlates with an improvement of firms' productivity in a region. Conversely, funding aimed at overall Business Support correlates with negative productivity growth rates. In both cases, we registered an asymmetric impact along the firms' productivity distribution, where a stronger impact can be detected in the first quartile, i.e. less efficient firms in a region. We finally argue that considering the heterogeneity of firms allows a better assessment of the impact of "cohesion policy" measures. |
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| Beschreibung: | Erscheint auch als Online-Ausgabe |
| Beschreibung: | 23 Seiten Diagramme 30 cm |