Riccardo Crescenzi
London School of Economics
Guido de Blasio
Bank of Italy
Mara Giua
Roma Tre University
Abstract
This paper evaluates a program of subsidies for Collaborative Industrial Research (co-)funded by the EU Cohesion Policy in Italy mobilizing over 1 billion euros. This program anticipated in the 2007-2013 funding cycle some of the key features of Smart Specialization Strategy (S3) programmes, offering evidence-based insights on potential challenges to the practical application of the S3 approach. The programme was not successful in boosting investments, value added or employment of beneficiary firms. The collaborative dimension of the projects added limited value and a more generous level funding would have not improved effectiveness. However, positive impacts emerged in low tech sectors.
Keywords
Cohesion Policy, Smart Specialisation, Policy Evaluation, Innovation, European Union
Jel Codes
O18, R11, R58
