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Local multipliers at work

Local development that money cannot buy: Italy’s Contratti di Programma

Augusto Cerqua () and Guido Pellegrini

Industrial and Corporate Change, 2020, vol. 29, issue 4, 959-977

Abstract: We propose a novel evaluation strategy to estimate local multipliers in Italy during 1996–2006. We find the presence of positive multipliers: 0.26–0.33 for the tradable sector (manufacturing) and 0.88–1.13 for the non-tradable sector (construction and services). They are lower than what was previously found for the United States but much higher than those identified for European and Asian countries. The reasons for this finding lie in the higher accuracy of the data, in the relevance of the instrument used, and in the widespread underutilization of production factors.

JEL-codes: F16 H25 J23 R23 (search for similar items in EconPapers)
Date: 2020
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