European structural funds during the crisis: evidence from Southern Italy

Table 1 The effects of European Structural Funds, Southern Italy, 2008-2013

	(1)	(2)	(3)	(4)	(5)	(6)
	Annual 2008–2013 growth in:			Average 2008–2013 growth in:
	Employment	Population	House price per sqm	Employment	Population	House price per sqm
ln(annual per capita payments)_t	−0.0002	0.0004	0.0004
ln(annual per capita payments)_t	(0.0010)	(0.0003)	(0.0015)
ln(cumulative per capita payments 07–13)				−0.0027**	0.0011	−0.0027
ln(cumulative per capita payments 07–13)				(0.0013)	(0.0007)	(0.0023)
Obs	1950	1950	1950	325	325	325
R2	0.2152	0.0471	0.2460	0.0124	0.0069	0.0029

Note:
The unit of observation is the LLM over time. Data on payments come from Open-coesione. Employment refers to the average annual employment from the LFS survey. Population is obtained from ISTAT data (inter-census reconstruction). Price per square meter is from OMI, aggregated at the municipality level using the method described in Cannari and Faiella (2008). The regressions include a constant and year fixed effects. Standard errors clustered for LLM in parentheses (robust s.e. for average growth). The average growth over 2008–13 is calculated as a geometric average
*p < .10 **p < .05 ***p < .01