Ciaian, Pavel; Kancs, D'Artis; Michalek, Jerzy - 2015
The main objective of the present paper is to estimate the extent to which firm investment is substituted (crowded …-out) by investment support policies granted under the EU Rural Development Programme (RDP). In the empirical analyses we … studies suffer. Using panel data of 1,333 firms from the Schleswig-Holstein region in Germany, we find that the crowding …