65307 20220425105228.0 doi 10.5018/economics-ejournal.ja.2017-34 sideral 104306 ART-2017-104306 eng Vallés-Giménez, J. Universidad de Zaragoza (orcid)0000-0002-2542-4956 Catalytic effect of capital transfers in a federal context: The case of spanish regions 2017 Access copy available to the general public Unrestricted There is a broad theoretical consensus on the effects of transfers (desired incentive impacts and induced adverse effects). But, as the literature review shows, there is not an accepted methodology for the empirical evaluation of these effects. The authors suggest a simple but rigorous empirical approach to quantify the catalytic effect of conditioned transfers for investment and their asymmetric impact across regions in Spain. To identify this behaviour, they have applied different empirical approaches with frontier techniques that let them consider the frontier as a proxy for potential investment. The results show that the conditioned transfers received by the regions from higher levels of government have a stimulus effect for investments, especially in the poor regions. The authors identify several factors explaining this unbalanced catalytic effect: the political cost of tax collection, political factors, inadequate management of debt, and other variables such as the level of economic development, population density, and the economic cycle. info:eu-repo/semantics/openAccess by http://creativecommons.org/licenses/by/3.0/es/ 0.545 2017 ECONOMICS 286 / 353 = 0.81 2017 Q4 T3 0.256 2017 Economics, Econometrics and Finance (miscellaneous) 2017 Q2 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Zárate-Marco, A. Universidad de Zaragoza (orcid)0000-0002-5525-4556 4008 225 Universidad de Zaragoza Dpto. Estruc.Hª Econ.y Eco.Pb. Área Economía Aplicada 11, 2017-34 (2017), 1–27 ECONOMICS-THE OPEN ACCESS OPEN-ASSESSMENT E-JOURNAL ECONOMICS-THE OPEN ACCESS OPEN-ASSESSMENT E-JOURNAL 1864-6042 370340 http://zaguan.unizar.es/record/65307/files/texto_completo.pdf Versión publicada 70619 http://zaguan.unizar.es/record/65307/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:65307 articulos driver 2022-04-25-10:35:16 ARTICLE