Regional subsidies and industrial prospects of lagging regions
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/12480 |
Resumo: | Large and sustained differences in economic performance across regions of developing countries have long provided motivation for fiscal incentives designed to encourage firm entry in lagging areas. Empirical evidence in support of these policies has, however, been weak at best. This paper undertakes a direct evaluation of the most prominent fiscal incentive policy in Brazil, the Fundos Constitucionais de Financiamento (Constitutional Funds). In doing so, we exploit valuable features of the Brazilian Ministry of Labor's RAIS data set to address two important elements of firm location decisions that have the potential to bias an assessment of the Funds: (i) firm 'family structure' (in particular, proximity to headquarters for vertically integrated firms), and (ii) unobserved spatial heterogeneity (with the potential to confound the effects of the Funds). We find that the pull of firm headquarters is very strong relative to the Constitutional Funds for vertically integrated firms, but that, with non-parametric controls for time invariant spatial heterogeneity, the Funds provide statistically and economically significant incentives for firms in many of the targeted industries. |
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Carvalho, AlexandreEscolas::EPGEFGV2014-11-18T13:41:12Z2014-11-18T13:41:12Z2007-03-12http://hdl.handle.net/10438/12480Large and sustained differences in economic performance across regions of developing countries have long provided motivation for fiscal incentives designed to encourage firm entry in lagging areas. Empirical evidence in support of these policies has, however, been weak at best. This paper undertakes a direct evaluation of the most prominent fiscal incentive policy in Brazil, the Fundos Constitucionais de Financiamento (Constitutional Funds). In doing so, we exploit valuable features of the Brazilian Ministry of Labor's RAIS data set to address two important elements of firm location decisions that have the potential to bias an assessment of the Funds: (i) firm 'family structure' (in particular, proximity to headquarters for vertically integrated firms), and (ii) unobserved spatial heterogeneity (with the potential to confound the effects of the Funds). We find that the pull of firm headquarters is very strong relative to the Constitutional Funds for vertically integrated firms, but that, with non-parametric controls for time invariant spatial heterogeneity, the Funds provide statistically and economically significant incentives for firms in many of the targeted industries.engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessRegional subsidies and industrial prospects of lagging regionsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaDesenvolvimento regional - BrasilIncentivos fiscais - Brasilreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL2186.pdf2186.pdfapplication/pdf152670https://repositorio.fgv.br/bitstreams/91302507-ba17-472a-8cd6-116ee8296e4f/download4bde964f2bfac733f9c3b0607f193243MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/a9856114-a637-4e77-8172-819375472fa0/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT2186.pdf.txt2186.pdf.txtExtracted 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dc.title.eng.fl_str_mv |
Regional subsidies and industrial prospects of lagging regions |
title |
Regional subsidies and industrial prospects of lagging regions |
spellingShingle |
Regional subsidies and industrial prospects of lagging regions Carvalho, Alexandre Economia Desenvolvimento regional - Brasil Incentivos fiscais - Brasil |
title_short |
Regional subsidies and industrial prospects of lagging regions |
title_full |
Regional subsidies and industrial prospects of lagging regions |
title_fullStr |
Regional subsidies and industrial prospects of lagging regions |
title_full_unstemmed |
Regional subsidies and industrial prospects of lagging regions |
title_sort |
Regional subsidies and industrial prospects of lagging regions |
author |
Carvalho, Alexandre |
author_facet |
Carvalho, Alexandre |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Carvalho, Alexandre |
dc.subject.area.por.fl_str_mv |
Economia |
topic |
Economia Desenvolvimento regional - Brasil Incentivos fiscais - Brasil |
dc.subject.bibliodata.por.fl_str_mv |
Desenvolvimento regional - Brasil Incentivos fiscais - Brasil |
description |
Large and sustained differences in economic performance across regions of developing countries have long provided motivation for fiscal incentives designed to encourage firm entry in lagging areas. Empirical evidence in support of these policies has, however, been weak at best. This paper undertakes a direct evaluation of the most prominent fiscal incentive policy in Brazil, the Fundos Constitucionais de Financiamento (Constitutional Funds). In doing so, we exploit valuable features of the Brazilian Ministry of Labor's RAIS data set to address two important elements of firm location decisions that have the potential to bias an assessment of the Funds: (i) firm 'family structure' (in particular, proximity to headquarters for vertically integrated firms), and (ii) unobserved spatial heterogeneity (with the potential to confound the effects of the Funds). We find that the pull of firm headquarters is very strong relative to the Constitutional Funds for vertically integrated firms, but that, with non-parametric controls for time invariant spatial heterogeneity, the Funds provide statistically and economically significant incentives for firms in many of the targeted industries. |
publishDate |
2007 |
dc.date.issued.fl_str_mv |
2007-03-12 |
dc.date.accessioned.fl_str_mv |
2014-11-18T13:41:12Z |
dc.date.available.fl_str_mv |
2014-11-18T13:41:12Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/article |
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article |
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http://hdl.handle.net/10438/12480 |
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http://hdl.handle.net/10438/12480 |
dc.language.iso.fl_str_mv |
eng |
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eng |
dc.relation.ispartofseries.por.fl_str_mv |
Seminários de pesquisa econômica da EPGE |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
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