In this paper we estimate the long-run relationship between total factor productivity, R&D capital stock and human capital in the Italian regions between 1980 and 2001. We exploit recent developments of panel cointegration techniques to estimate the cointegration relationship, allowing for...

Since the second half of the '90s, investment incentives channelled through the Law 488 have represented the main policy instrument for reducing territorial disparities in Italy. From 1996 to 2003, the total amount of funds distributed to industrial firms has accounted for 16 billion of euro,...

This paper contributes to the literature on the effectiveness of R&D incentives by evaluating a unique investment subsidy program implemented in northern Italy. Firms were invited to submit proposals for new projects and only those that scored above a certain threshold received the subsidy. We...

The book brings together a series of research papers presented at a workshop on "Economic integration between the Mezzogiorno and the Centre North", held at the Bank of Italy in Rome on 15 March 2011. The workshop assessed the degree of economic integration between the two areas from several...

The aim of this paper is to evaluate whether domestic and foreign activities of Italian firms are mainly substitutes or complements. We take advantage of a unique firm-level panel data set from the Bank of Italy Survey of Industrial and Service Firms, which provides information on the...

The paper examines how private investment responds to investment tax credit, enacted by Italy's Law 388/2000. To assess whether the program made investments possible that otherwise would not have been made, it exploits some features of the tax credit scheme, such as the fact that some Italian...

Since the second half of the �90s, investment incentives channeled through the Law 488 have represented the main policy instrument for reducing territorial disparities in Italy. From 1996 to2003, the total amount of funds distributed to industrial firms has accounted for 16 billions of Euro...

In this paper we estimate the long-run relationship between regional total factor productivity, R&D, human capital and public infrastructure between 1980 and 2001. We take advantage of recent developments panel cointegration techniques that control for endogeneity of regressors to estimate...

This paper examines how business investment responds to investment tax credit, as enacted by Italy�s Law 388/2000. To assess whether the programme made investments possible that otherwise would not have been made, it exploits some features of the tax credit scheme, such as the fact that...