This study assesses the impact of state aid on firms in the tourism sector by implementing an accurate micro-econometric evaluation of their causal effect. Analyses consider subsidies allocated by the main regional policy in Italy, the Law 488/1992, during the period 1999-2003. A Matching Difference-In-Difference (MDID) estimator is applied, considering the presence of selection on observable and non-observable factors. Effects on the tourism sector are compared with those in the manufacturing industry. The impacts with respect to different types of tourism destinations where tourism firms operate are also evaluated. The results show higher output and employment growth but lower labour productivity dynamics in subsidised firms relative to non-subsidised ones. The impacts are diverse across types of tourism destinations. © 2012 Elsevier Ltd.

Is subsidising tourism firms an effective use of public funds? / Cristina, Bernini; Pellegrini, Guido. - In: TOURISM MANAGEMENT. - ISSN 0261-5177. - STAMPA. - 35:(2013), pp. 156-167. [10.1016/j.tourman.2012.06.012]

Is subsidising tourism firms an effective use of public funds?

PELLEGRINI, Guido
2013

Abstract

This study assesses the impact of state aid on firms in the tourism sector by implementing an accurate micro-econometric evaluation of their causal effect. Analyses consider subsidies allocated by the main regional policy in Italy, the Law 488/1992, during the period 1999-2003. A Matching Difference-In-Difference (MDID) estimator is applied, considering the presence of selection on observable and non-observable factors. Effects on the tourism sector are compared with those in the manufacturing industry. The impacts with respect to different types of tourism destinations where tourism firms operate are also evaluated. The results show higher output and employment growth but lower labour productivity dynamics in subsidised firms relative to non-subsidised ones. The impacts are diverse across types of tourism destinations. © 2012 Elsevier Ltd.
2013
public subsidies; mdid estimator; tourism firms; tourism destination typologies; policy evaluation; tourism destination types
01 Pubblicazione su rivista::01a Articolo in rivista
Is subsidising tourism firms an effective use of public funds? / Cristina, Bernini; Pellegrini, Guido. - In: TOURISM MANAGEMENT. - ISSN 0261-5177. - STAMPA. - 35:(2013), pp. 156-167. [10.1016/j.tourman.2012.06.012]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11573/468171
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