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Although the EU is growing ever closer as a single economic entity, the difference in wealth and economic power among its member nations – from Germany and France to Romania and Bulgaria – is still enormous. This is despite the European Union’s continuous efforts to reduce welfare differences between its member states since its foundation in 1958: The long-term objective of the EU is a convergence of income and GDP per capita levels within the entire Union. This policy is known as European cohesion policy, which nowadays accounts for more than one third of the EU’s total budget. The vast financial importance of the cohesion policy naturally begs two questions: Are structural funds effective in promoting economic growth? And if so, do they promote income and welfare convergence within the EU? Yet most studies so far have merely yielded fragmented results, as they only focus on single EU member states, or consist of data for short time periods. In contrast, this study captures long-term effects of structural funds in the recent past and delivers accurate and meaningful empirical results. It focuses on data for the European Regional Development Fund since this is the most important item of cohesion policy which financially supports projects that aim to foster convergence directly. In this book: - European cohesion policy; - structural funds; - European Regional Development Fund; - economic convergence; - Solow-Model; - growth theory
The Open Access version of this book, available at http://www.tandfebooks.com/doi/view/10.4324/9781315401867, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 3.0 license. This book brings together academics, members of European institutions, and regional and national level policymakers in order to assess the performance and direction of EU Cohesion policy against the background of the most significant reforms to the policy in a generation. Responding to past criticisms of the effectiveness of the policy, the policy changes introduced in 2013 have aligned European Structural and Investment Funds with the Europe 2020 strategy and introduced measures to improve strategic coherence, performance and integrated development. EU Cohesion Policy: Reassessing performance and direction argues that policy can only be successfully developed and implemented if there is input from both academics and practitioners. The chapters in the book address four important issues: the effectiveness and impact of Cohesion policy at European, national and regional levels; the contribution of Cohesion policy to the Europe 2020 strategy of smart, sustainable and inclusive growth; the importance of quality of government and administrative capacity for the effective management of the Funds; and the inter-relationships between institutions, territory and place-based policies. The volume will be an invaluable resource to students, academics and policymakers across economics, regional studies, European studies and international relations.
Seminar paper from the year 2010 in the subject Business economics - Investment and Finance, grade: 1,0, Berlin School of Economics and Law (Fernstudieninstitut), course: EUROPEAN COHESION POLICIES, language: English, abstract: The first chapter is divided into two sections; the first section aims to present the most important steps toward the current systems of European Cohesion and Funding Policies, and the second section summarizes the main funding streams of the current cohesion policy. In addition, in the second part, the linkage between the different financial instruments and the objectives of Structural Fund assistance is clarified. The second chapter examines the effectiveness and efficiency of the cohesion policy in reducing regional disparities, with a reference to the preceding funding period. Due to the restriction on the length of in this paper, the reduction of regional disparities will be assessed by examining economic performance and employment according to the objectives of the cohesion policy and its financial instruments. Due to the difficulties in separating the contributions of the cohesion policy from the overall effects of progress, the achievements of the Lisbon objectives will be scrutinized in the following section. Selected Structural Indicators will be examined to remark on the progress in the set key areas. The following section aims to conduct a partial examination of the impact and weaknesses of pre-accession assistance. Examining the question of institutional and administrative capacity building, the section will scrutinize the development of economic performance of and employment levels in the new Member States in the 2000–2006 funding period. The objective of the preceeding chapter is to determine the impacts of the Europe 2020 objectives on cohesion policy, examine the adequacy of established goals, and compare the Europe 2020 objectives with those of the Lisbon Strategy. The objective of the last section is to analyze the proposals for a reformed cohesion policy as submitted in the BARCA report. Therefore, the advantages and disadvantages that appears when considering the proposals will be discussed. In addition, the main differences with the current practice will be considered.
Many aspects of public investment in the European periphery now fall within the scope of the EU's regional aid programme, the Community Support Framework (CSF). This book describes the logic behind the design of the CSF and how its macroeconomic impact can be evaluated.
Structural funds are the most intensively used policy instrument by the European Union to promote economic growth in its member states and to speed up the process of convergence. This paper empirically explores the effectiveness of European Structural Funds by means of a panel data analysis for 13 countries in the European Union. We show that - on average - Structural Funds are ineffective. For countries with the 'right' institutions, however, Structural Funds are effective. The latter result is obtained for a wide range of conditioning variables, such as openness, institutional quality, corruption and indicators for good governance.
Seminar paper from the year 2008 in the subject Politics - International Politics - Topic: European Union, grade: 1,3, Berlin School of Economics and Law, course: Modul: Europäische Kohäsionspolitiken und Förderinstrumente, language: English, abstract: Cohesion policies are a mean to support European integration. This esay indicates the main financial instruments which are to achieve cohesion. It identifies crucial factors leading to successful implementation of European funding programmes. The essay addresses the following issues: 1. Analysis of the relationship between the two objectives of the cohesion policies, growth and reduction of disparities. Are there any contradictions or tension between these objectives or do they just complement each other? 2. Analysis and comparison of the priorities of the European Regional Development Fund (ERDF) and the European Social Fund (ESF) in the light of the overall objectives for the cohesion policies. What are their differences in scope? Where are similarities? Where are potential synergies? 3. For the funding period 2007-2013 the budget of the European Structural Funds is dedicated to certain objectives and financial instruments. How is the present distribution of the financial means of the Structural Funds? What are the main reasons and criteria having guided the decision for this distribution? Assessment of the adequacy of the existing distribution and reasons for the conception. 4. Besides the European Structural Funds there are a large number of European funding programmes covering a broad range of thematic subjects. Systematical differentiation between sources of European funding. 5. According to a commonly agreed Operational Programme the means of the European Structural Funds are implemented decentralized by the Member States or the regions. Based on this framework, it is up the national and regional governments to make the best use of European money. How can the quality of regional public administration servic
This final report focuses on evaluating the impact of the EU Funds (EUF, sum of structural and cohesion funds) on regional growth in terms of GDP, employment rate and gross fixed capital formation. The analysis is implemented with a counterfactual impact evaluation approach developed through two methodological instruments: the Propensity score matching (PSM), with multiple categorical treatment-status variables, and the Generalised Propensity Score (GPS) matching. The estimation sample covers the EU-27 Nuts-2 regions across the programming periods 1994-99, 2000-06 and 2007-13. The results of the analysis show that the EUF have a significant role in stimulating regional growth and economic development, with higher average intensities of the EUF in the Ob. 1/Convergence regions that generate a positive effect on regional growth, compared to the counterfactual status of receiving the lower average EUF intensity of the non-Ob. 1/non-Convergence regions. The results also indicate that the marginal impact on regional growth of further increasing the intensity of the EUF tends to be somehow higher, on average, for the regions that do not already receive an high intensity of the EUF. Such last finding, however, is not fully conclusive due to some important data limitations that do not allow the analysis to estimate the exact conditions under which the different intensities of the EUF produce desirable regional growth outcomes.
Seminar paper from the year 2007 in the subject Business economics - Miscellaneous, grade: 1,5, European University Viadrina Frankfurt (Oder) (Economics), language: English, abstract: Der Grundgedanke Europäischer Kohäsionspolitik ist es, wirtschaftliche und strukturelle Differenzen auf nationaler und regionaler Ebene zu harmonisieren. Um diese Defizite perspektivisch und gezielt zu beheben, hat die EU Kommission Fonds aufgesetzt. Die verschiedenen Arten der finanziellen Unterstützung und deren Handlungsrahmen wird auf den folgenden Seiten erläutert. Durch die Aufnahme der 10 neuer Länder in die EU 2004, steht die Europäische Kohäsionspolitik vor neuen Herausforderungen.