In this study of Swedish farms from 2007 to 2016, we estimate the effects of investment support from the Common Agricultural Policy on indicators of farm performance, focusing on long-term effects. To isolate the impact and alleviate problems of selection bias, we employ a counterfactual empirical design using Coarsened Exact Matching and dynamic panel fixed-effects estimations. The average treatment effect on the treated estimates show a positive and significant long-term improvement of farm performance with regard to productivity and turnover. However, the results indicate significant time lags between investments and accumulated observable effects, as we find most short-term effects of the subsidy to be insignificant.

中文翻译：

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评估 CAP 投资支持对农场绩效指标的长期影响

在这项对 2007 年至 2016 年瑞典农场的研究中，我们估计了共同农业政策的投资支持对农场绩效指标的影响，重点关注长期影响。为了隔离影响并减轻选择偏差的问题，我们采用反事实经验设计，使用粗化精确匹配和动态面板固定效应估计。对处理过的估计值的平均处理效果表明，在生产力和营业额方面，农场绩效具有积极且显着的长期改善。然而，结果表明投资和累积的可观察效果之间存在显着的时间滞后，因为我们发现补贴的大多数短期影响微不足道。