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|Title:||State Aid Policy in the European Union|
|Keywords:||European Union;State Aid;Solow Model;Growth;Investment|
|Citation:||Journal of Common Market Studies, 53(5): pp. 1143–1162, (2015)|
|Abstract:||Industrial policy is an important tool of economic policy-making, especially so since the onset of the current global financial crisis in 2008. However, only relatively few empirical studies consider the macroeconomic effects of industrial policy, especially for the European Union countries. In this study, we investigate the effect of state aid policy on economic growth and investment, using a panel data set which covers 27 European Union countries over the period 1992-2011. Our results suggest that state aid policy is not an effective tool to achieve higher economic growth and investment rates.|
|Appears in Collections:||Dept of Economics and Finance Research Papers|
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