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Cohesion Policy Meets Heterogeneous Firms

Author

Listed:
  • Loredana Fattorini
  • Mahdi Ghodsi

    (The Vienna Institute for International Economic Studies, wiiw)

  • Armando Rungi
Abstract
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.

Suggested Citation

  • Loredana Fattorini & Mahdi Ghodsi & Armando Rungi, 2018. "Cohesion Policy Meets Heterogeneous Firms," wiiw Working Papers 142, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:wpaper:142
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    Cited by:

    1. Foreman-Peck, James & Zhou, Peng, 2022. "R&D subsidies and productivity in eastern European countries," Economic Systems, Elsevier, vol. 46(2).
    2. Daniele Archibugi & Rinaldo Evangelista & Antonio Vezzani, 2021. "Centripetal and centrifugal forces in technological activities: linking regional innovation performances to EU Science & Technology policies," Working Papers 47, Birkbeck Centre for Innovation Management Research, revised Jan 2021.
    3. Mahdi Ghodsi, 2020. "Is Austria’s economy locked-in in the CESEE region? Austria’s competitiveness at the micro-level," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(3), pages 669-693, August.
    4. Julia Bachtrögler-Unger & Harald Oberhofer, 2018. "Euroscepticism and EU Cohesion Policy: The Impact of Micro-Level Policy Effectiveness on Voting Behaviour," WIFO Working Papers 567, WIFO.
    5. Dimitrios Exadaktylos & Mahdi Ghodsi & Armando Rungi, 2021. "What do Firms Gain from Patenting? The Case of the Global ICT Industry," Papers 2108.00814, arXiv.org, revised Jul 2024.
    6. Gabriel, José Mesquita & dos Santos, João Pereira & Tavares, José, 2022. "European funds and firm performance: Evidence from a natural experiment," Ruhr Economic Papers 966, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Monturano, Gianluca & Resce, Giuliano & Ventura, Marco, 2022. "Place-Based Policies and the location of economic activity: evidence from the Italian Strategy for Inner areas," Economics & Statistics Discussion Papers esdp22087, University of Molise, Department of Economics.
    8. Srhoj, Stjepan & Walde, Janette, 2020. "Getting ready for EU Single Market: The effect of export-oriented grant schemes on firm performance," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 279-293.
    9. Mesquita, José & Pereira dos Santos, João & Tavares, José, 2023. "European Funds and Firm Performance: Evidence from a Natural Experiment," IZA Discussion Papers 16526, Institute of Labor Economics (IZA).
    10. Atella, Vincenzo & Braione, Manuela & Ferrara, Giancarlo & Resce, Giuliano, 2023. "Cohesion Policy Funds and local government autonomy: Evidence from Italian municipalities," Socio-Economic Planning Sciences, Elsevier, vol. 87(PB).
    11. Ferraro, Simona & Männasoo, Kadri & Tasane, Helery, 2023. "How the EU Cohesion Policy targeted at R&D and innovation impacts the productivity, employment and exports of SMEs in Estonia," Evaluation and Program Planning, Elsevier, vol. 97(C).

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    More about this item

    Keywords

    firm performance; total factor productivity; cross-country analysis; convergence; regional policy;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • F15 - International Economics - - Trade - - - Economic Integration
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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