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Impact Assessment of Allocated European Funds on Economic Growth in Romania

Author

Listed:
  • Dumitru BELDIMAN

    (University of Craiova)

  • Tatiana PÄ‚UN ZAMFIROIU

    (University of Craiova)

Abstract

During the period 2007-2013, the European Union provided to Romania through cohesion policy approximately 19.7 billion euros. Taking into account the dimensions for the allocation of payments for the development of the regional country, I evaluate that the impact of the European funds from an economic and social point of view, represent a natural concern and at the same time a challenge that is quite difficult to achieve for Romania, but also for any other state. This evaluation cannot be accomplished only based on established indicators on each funding program, because these reflect the outcome of financial interventions and not the real impact on European funds on the economy. For this reason, the General Directorate of Economic and Financial Affairs within the European Commission has developed several econometric models, of which the most relevant are HERMIN and QUEST, which are used in analysing the impact of the European funds allocated through cohesion policy on Member States' economies. Thus, through this approach we aimed to highlight the impact of the European funds allocated through cohesion policy between 2007-2013, on the economic growth in Romania by using an econometric model based on the theoretical model Quest.

Suggested Citation

  • Dumitru BELDIMAN & Tatiana PÄ‚UN ZAMFIROIU, 2019. "Impact Assessment of Allocated European Funds on Economic Growth in Romania," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(21), pages 13-26, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2019:i:21:p:13-26
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    References listed on IDEAS

    as
    1. John Bradley & Gerhard Untiedt, 2007. "Do economic models tell us anything useful about Cohesion Policy impacts? A comparison of HERMIN, QUEST and ECOMOD," Working Papers 3-2007, GEFRA - Gesellschaft fuer Finanz- und Regionalanalysen.
    2. Barbara Annicchiarico & Fabio Di Dio & Francesco Felici & Francesco Nucci, "undated". "Macroeconomic Modelling and the Effects of Policy Reforms: an Assessment for Italy using ITEM and," Working Papers 1, Department of the Treasury, Ministry of the Economy and of Finance.
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    More about this item

    Keywords

    Quest model; econometric model; macroeconomic simulation; European funds; the impact of European funds; economic growth.;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G00 - Financial Economics - - General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H00 - Public Economics - - General - - - General

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