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A new phoenix? Large plants regeneration policies in Italy
Author(s) -
Accetturo Antonio,
Albanese Giuseppe,
D'Ignazio Alessio
Publication year - 2020
Publication title -
journal of regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.171
H-Index - 79
eISSN - 1467-9787
pISSN - 0022-4146
DOI - 10.1111/jors.12487
Subject(s) - phoenix , identification (biology) , instrumental variable , variable (mathematics) , industrial policy , business , economics , natural resource economics , economy , geography , international trade , ecology , archaeology , mathematical analysis , mathematics , metropolitan area , econometrics , biology
The fall of employment in manufacturing that the world's most advanced economies have been experiencing in the past 40 years has triggered a number of policies, undertaken in several countries. In this paper, we evaluate the effectiveness of a place‐based policy, carried out in Italy, aimed at both generating private investments and increasing employment in areas affected by deep industrial decline. By means of an instrumental variable identification strategy, we show that the program has been largely unsuccessful.