Autori
Pini, Marco
Ferri, Giovanni
Menghini, Mirko

Titolo
Does the NRRP speed up firms' Twin Transition? Empirical evidence from Italy
Periodico
Ministero dell'Economia e delle Finanze. Dipartimento del Tesoro. Working paper
Anno: 2023 - Fascicolo: 3 - Pagina iniziale: 1 - Pagina finale: 31

Italy programs is effectively quickening the Twin Transition of enterprises. Using a unique microlevel database of almost 3,000 firms, our econometric analyses find conspicuous support for the hypothesis that the NRRP is effectively speeding up the Twin Transition. Namely, we show that if a firm is activating NRRP projects four main results attain. First, this will impact the extensive margin, increasing the likelihood of starting the Twin Transition at firms which had never invested in it previously. Moreover, it will affect the intensive margin, raising the probability of enticing firms which had already invested in the Twin Transition to continue investing in it. Thirdly, it will bear on the inclusive margin, whereby the prospect of starting the Twin Transition at firms which had never invested in it previously will be boosted for firms belonging to disadvantaged entrepreneurial segments and areas. Lastly, Twin Transition improves also the performance at firm level. We should highlight as well that the bulk of the previous results is robust to adopting an instrumental variables approach to tackle the issue of potential endogeneity. Overall, our results offer strong empirical support to the validity of the EU policies in terms of speeding up the firm-level Twin Transition in the country which provides the most important case study, since Italy is the country which benefited of the largest allotment of NextGeneration EU’s funds.



SICI: 1972-411X(2023)3<1:DTNSUF>2.0.ZU;2-S
Testo completo: https://www.dt.mef.gov.it/export/sites/sitodt/modules/documenti_it/analisi_progammazione/working_papers/WP-3-2023.pdf

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