The quantitative impacts of subsidies on steel firms: An econometric analysis of the impact of subsidies on steel firms’ financial performance and crude steelmaking capacity

Non-OECD economies are using seven times more grants per unit of steelmaking capacity for their steel industry than OECD countries in 2021, and increased tenfold the amount of grants per unit of capacity while tripling amounts of below-market borrowings from 2005 to 2021. Identical subsidies can have very different impacts on recipient firms’...