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Possibilities to Quantify the Impact of Accessing Structural Funds and Cohesion Using Econometric Models

Author

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  • Dumitru BELDIMAN

    (University of Craiova)

  • Alia Gabriela DUȚĂ

    (University of Craiova)

Abstract

The research in this study was aimed at identifying those pros and cons regarding the fact that European funds are an important source of funding for regional development. In this sense, through the architecture of this study I conducted a detailed investigation through which I tried to highlight those aspects that reflect the impact of the absorption of European funds on the Romanian economy. At the same time, through this investigation, we aimed to obtain an overview of one of the most controversial topics related to European funds, namely assessing the impact of accessing European funds using econometric models. We approached this complex issue by developing a HEROM type macroeconometric model. This was done on the grounds that the new trend in the methodology for analyzing, assessing and interpreting the impact of European Union cohesion and regional development policy on Member States' economies is the use of macroeconomic quantification models. In addition, I appreciate that it should be noted that the HEROM model is the Romanian version of the HERMIN model which is one of the most popular simulation models used in this regard.

Suggested Citation

  • Dumitru BELDIMAN & Alia Gabriela DUȚĂ, 2020. "Possibilities to Quantify the Impact of Accessing Structural Funds and Cohesion Using Econometric Models," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(22), pages 21-33, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2020:i:22:p:21-33
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    References listed on IDEAS

    as
    1. John Bradley & Gerhard Untiedt, 2012. "Assessing the impact of EU Cohesion Policy: What can economic models tell us?," HERMIN Economic Papers 2-2012, HERMIN.
    2. Marco Ratto & Werner Roeger & Jan in 't Veld, 2008. "QUEST III: an estimated DSGE model of the euro area with fiscal and monetary policy," European Economy - Economic Papers 2008 - 2015 335, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Simón Sosvilla-Rivero, "undated". "Structural Funds and Spain’s Objective 1 Regions: An Analysis Based on the Hermin Model," Working Papers 2005-24, FEDEA.
    4. 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.
    5. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    HEROM model; econometric model; HERMIN model; macroeconomic simulation model; European funds impact assessment.;
    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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