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The equity-efficiency trade-off of the European cohesion policy

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Abstract

The European cohesion policy aims to strengthen economic, social and territorial cohesion, and to correct imbalances between countries and regions. The existing evidence on the impact of the policy on the regions of the European Union (EU) suggests that it is capable of positively influencing cohesion, triggering convergence at the country level. Little is known about the effects of the policy on within-country regional inequality, which is an important dimension of economic disparities. The results summarised here focus on the impact of cohesion policy investments on regional disparities within countries targeted by the policy. The investments can target either peripheral regions or core regions within each country. The economic impacts in the two types of regions differ substantially in terms of magnitude and spillovers generated. Investing in core regions may maximise country-wide returns, but it could be harmful to within-country regional disparities.

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  • Tryfonas Christou & Francesca Crucitti & Abian Garcia Rodriguez & Nicholas Lazarou & Simone Salotti, 2023. "The equity-efficiency trade-off of the European cohesion policy," JRC Research Reports JRC133380, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc133380
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    File URL: https://publications.jrc.ec.europa.eu/repository/handle/JRC133380
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    Keywords

    rhomolo; general equilibrium; economic growth; cohesion policy;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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