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Cost-benefit analysis and EU cohesion policy

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  • Andrea MAIRATE

    ()

  • Francesco ANGELINI

    ()

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    Abstract

    In the context of scarce EU budgetary resources and strained public finances, cost-benefit analysis (CBA) plays a crucial role in assisting policymakers’ public investment decisions. The purpose of this paper is to draw lessons from the CBA experience under the Structural and Cohesion Funds to date. The paper reviews the main developments over the last decade, highlighting the role played by the Commission in helping foster a sound project appraisal culture in the member states. It also points out the relevance of CBA in assisting the allocation of EU funds across projects. Particularly, it is shown how the new method that will be used to determine the level of Community assistance should prevent the crowding out of other sources of finance by increasing the leverage effect and creating incentives for attracting private capital. Finally, the paper will discuss the main policy implications in terms of affordability and sustainability issues.

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    File URL: http://wp.demm.unimi.it/tl_files/wp/2006/DEMM-2006_034wp.pdf
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    Bibliographic Info

    Paper provided by Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano in its series Departmental Working Papers with number 2006-34.

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    Date of creation: 02 Nov 2006
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    Handle: RePEc:mil:wpdepa:2006-34

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    Related research

    Keywords: Cost-Benefit Analysis; Project Evaluation; Structural Funds; European Regional Policy;

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    1. Massimo Florio, 2006. "Cost-benefit analysis and the European union cohesion fund: On the social cost of capital and labour," Regional Studies, Taylor and Francis Journals, vol. 40(2), pages 211-224.
    2. Pearce, David, 1998. "Cost-Benefit Analysis and Environmental Policy," Oxford Review of Economic Policy, Oxford University Press, vol. 14(4), pages 84-100, Winter.
    3. Andrea MAIRATE, 2006. "Does cohesion help economic growth?," Departmental Working Papers 2006-06, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    4. Massimo Florio & Silvia Vignetti, 2003. "Cost-benefit analysis of Infrastructure Projects in an Enlarged European Union: an Incentive-Oriented Approach," Development Working Papers 181, Centro Studi Luca d\'Agliano, University of Milano.
    5. Grout, Paul A., 2005. "Value-for-money measurement in public-private partnerships," EIB Papers 7/2005, European Investment Bank, Economics Department.
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