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The RHOMOLO impact assessment of the 2014-2020 cohesion policy in the EU regions

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Abstract

We assess the macroeconomic impact of the EU cohesion policy investments deployed during the 2014-2020 programming period, employing updated data on planned expenditures, which in most Member States will take place until 2023. We use the spatial dynamic general equilibrium RHOMOLO in order to quantify the direct and indirect effects of the policy investments in the NUTS 2 regions of the EU within a 20-year time frame. The results suggest that the impact of the policy is sizeable, especially in the less developed regions of the EU. Accordingly, regional disparities are shown to decrease thanks to the policy intervention. The policy also has a positive impact at the EU level, GDP in the EU being 0.4% higher in 2021 compared to a scenario without cohesion policy.

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  • CRUCITTI Francesca & LAZAROU Nicholas & MONFORT Philippe & SALOTTI Simone, 2022. "The RHOMOLO impact assessment of the 2014-2020 cohesion policy in the EU regions," JRC Working Papers on Territorial Modelling and Analysis 2022-01, Joint Research Centre.
    • Handle: RePEc:ipt:termod:202201
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    File URL: https://publications.jrc.ec.europa.eu/repository/handle/JRC128208
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    Cited by:

    1. Carlo Gianelle & Fabrizio Guzzo & Javier Barbero & Simone Salotti, 2022. "The economic implications of Smart Specialisation governance: a general equilibrium analysis for Italy 2014-2020," JRC Working Papers on Territorial Modelling and Analysis 2022-05, Joint Research Centre.
    2. Alberto Ansuategi & Iñaki Barredo, 2023. "Payment by results and structural reforms in the post-27 Cohesion Policy Framework," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 103(01), pages 312-317.

    More about this item

    Keywords

    rhomolo; region; growth; Cohesion policy; regional growth; regional development; general equilibrium modelling;
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