Indagine sulle imprese agevolate con i Contratti di Programma: un esercizio di applicazione del metodo controfattuale

The work focuses on the evaluation of the effectiveness of policies following a multidimensional approach to measuring their success. In particular, both the application of the counterfactual method and an efficiency analysis based on econometric techniques are proposed. The focus is on a specific policy devoted to support enterprises, the so called Contratti di Programma (CdP). The Contratti di Programma, established by Law n. 64 of 1986, involve the use of many public resources to support the feasibility of large investment projects proposed by big companies. This policy is still little explored in terms of itseffectiveness as a measure to support enterprises. Thanks to the information about the recipients of aid contained in the database "Monitoring CdP", a counterfactual sample of similar enterprises not receiving public aid was identified . The database, with information on economically supported and not economically supported enterprises, was then used to evaluate the effect produced by the aid policy, through the application of an econometric technique, defined multiple regression with panel data. Additionally, utilising the stochastic frontier approach, an efficiency analysis was proposed, in order to test empirically whether and how aid policy has impacted on productive efficiency of the enterprises examined. The results obtained, that should be considered with caution given the type of data available, indicate that the aid policy has had a positive effect on enterprise economic activity (especially for enterprises located in the Centre-North). Moreover enterprises receiving public aid are more efficient than those which are not economically supported.