@TechReport{iza:izadps:dp15779,
            	author={Alexandre, Fernando and Chaves, Miguel and Portela, Miguel},
            	title={Investment Grants and Firms' Productivity: How Effective Is a Grant Booster Shot?},
            	year={2022},
	month={Dec},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={15779},
            	url={https://www.iza.org/publications/dp15779},
	abstract={This paper investigates the effect of awarding a second investment grant to the same firm. We implement a Regression Discontinuity Design strategy using a very rich firm-level administrative database, which allows us to link applications to grants and their scores to firms' performance. Overall, our results show a positive and significant impact of an investment grant booster shot on firms' labour productivity. This effect is significantly larger than the effect of a single grant. A more granular analysis shows a strong impact of awarding a second grant to small-sized firms. However, we found no effect on micro, medium and large-sized firms. Our results suggest that the characteristics of the targeted firms, namely firm size, matter for the effectiveness of awarding a second grant to the same firm.},
	keywords={industrial policy;investment grants;multiple treatments;productivity},
            }