A new phoenix? Large plants regeneration policies in Italy
评估意大利一项旨在促进工业衰退地区投资和就业的地方政策，发现该政策基本无效。
Abstract The fall of employment in manufacturing that the world's most advanced economies have been experiencing in the past 40 years has triggered a number of policies, undertaken in several countries. In this paper, we evaluate the effectiveness of a place‐based policy, carried out in Italy, aimed at both generating private investments and increasing employment in areas affected by deep industrial decline. By means of an instrumental variable identification strategy, we show that the program has been largely unsuccessful.