This paper investigates the effects of subsidies on the investment decisions of a sample of Italian manufacturing firms. We use survey information on firms� subjective evaluations of the investment they would have undertaken without financing, finding that subsidies have limited...

This paper investigates the effects of investment subsidies on the accumulation decisions of a sample of Italian manufacturing firms. We use survey information on the subjective evaluation of the investment activity that the recipient firm would have undertaken, had it not been financed. We find...

This paper investigates the effects of subsidies on the investment decisions of a sample of Italian manufacturing firms. We use survey information on firms' subjective evaluations of the investment they would have undertaken without financing, finding that subsidies have limited effectiveness as...