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Structural investment needs in CESEE and the use of EU funds

Author

Listed:
  • Rocc L. Bubbico
  • Miroslav Kollar
  • Tomáš Slacík

    (Oesterreichische Nationalbank, Foreign Research Division)

Abstract

Investment recovery in Central, Eastern and Southeastern Europe (CESEE) as well as in Europe as a whole is gaining steam. Hence, despite measurement challenges, there seems to be a broad consensus that there is currently no cyclical quantitative investment gap that would need to be addressed. However, there is tangible evidence suggesting that there are significant structural investment needs, particularly with regard to the quality of capital. Against this background, the aim of the present paper is twofold. First, we shed some light on the thematic areas in which structural investment needs persist by collecting and exploring a large set of strategic indicators. Second, we compare these structural investment needs with the structure of the European Structural and Investment Funds (ESIF) in the 2007–2013 programming period. This gives us some insights into whether the ESIF were directed to areas with the greatest investment needs and offers some tentative suggestions regarding the impact the ESIF had on the respective structural areas and as to the efficient use of the ESIF.

Suggested Citation

  • Rocc L. Bubbico & Miroslav Kollar & Tomáš Slacík, 2018. "Structural investment needs in CESEE and the use of EU funds," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3-18, pages 87-101.
    • Handle: RePEc:onb:oenbfi:y:2018:i:q3-18:b:8
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    File URL: https://www.oenb.at/dam/jcr:db0b9c02-45d1-44e9-b19e-4cadb698e0ad/08_Structural_investment_feei_2018_q3.pdf
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    Citations

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    Cited by:

    1. Doris Ritzberger-Grünwald & Josef Schreiner, 2018. "Restarting real economic convergence in CESEE," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3-18, pages 10-23.

    More about this item

    Keywords

    European Structural and Investment Funds; investment gap; structural investment needs;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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