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BEGIN:VEVENT
UID:643b2a2a2530fab2d571893f7f06c300
CATEGORIES:Seminars
CREATED:20210803T095704
SUMMARY:Lunch Seminar: Leonardo D'Amico -  Harvard University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Place Based Policies with Local Voting. Lessons from the EU Cohesion Policy
 "\nAbstract:\nI study place based policies under local political economy co
 nstraints, asking whether transfers across regions can foster regional conv
 ergence. I show that, if local workers can vote over the within-region allo
 cation of the transfers, these may be spent unproductively and be ineffecti
 ve in supporting growth - especially where growth is most needed. Due to mi
 gration responses to transfers, they may even have unintended consequences 
 and be harmful for economic growth in poorer regions. These conclusions fol
 low even though voters are assumed to be fully sophisticated and to anticip
 ate the general equilibrium consequences of the policy. Using data on the E
 U Cohesion Policy in 2007-13, I show that, in regions with many low skilled
  workers, funds are significantly less likely to be invested in technologic
 al development, innovation, and research. In line with the theory, this occ
 urs only when regional authorities are among the managers of the funds, but
  not when these are managed by national authorities, who do not cater to lo
 cal voters.\n \n
DTSTAMP:20260620T163630Z
DTSTART:20210903T130000Z
DTEND:20210903T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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