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EU Cohesion Policy in a Period of Economic Crisis: Evaluating Impacts in Small Open Economies

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  • John Bradley

Abstract

This is a review of issues concerning the role and effectiveness of the EU Structural and Cohesion Funds in different countries before and after the EU enlargement since 2004. Based on Ireland’s experience this analysis focuses on the impact of the cohesion policy on the small open economies under the conditions of economic crisis and the implementation of the Lisbon Strategy ’2000. An integrated micro-macro approach is presented, attempting to elucidate the policy contradictions and the results from the applied programs at a highly aggregated level, making use of macroeconomic models (macro or top-down) and at a disaggregated level (micro or bottom-up). The thesis is defended, that the interaction of both approaches shall enable the impacts on the micro-level to be linked with the impacts on macro-level (GDP and employment).

Suggested Citation

  • John Bradley, 2010. "EU Cohesion Policy in a Period of Economic Crisis: Evaluating Impacts in Small Open Economies," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 50-67.
  • Handle: RePEc:bas:econth:y:2010:i:7:p:50-67
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    References listed on IDEAS

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    1. International Monetary Fund, 2008. "Macroeconomic Effects of EU Transfers in New Member States," IMF Working Papers 08/223, International Monetary Fund.
    2. John Bradley & Timo Mitze & Edgar Morgenroth & Gerhard Untiedt, 2006. "How can we know if EU cohesion policy is successful? Integrating micro and macro approaches to the evaluation of Structural Funds," Working Papers 1-2006, GEFRA - Gesellschaft fuer Finanz- und Regionalanalysen.
    3. Sjed Ederveen & Joeri Gorter & Ruud de Mooij & Richard Nahuis, 2003. "Funds and Games: The Economics of European Cohesion Policy," Occasional Papers 03, European Network of Economic Policy Research Institutes.
    4. Sjef Ederveen & Henri L . F. Groot & Richard Nahuis, 2006. "Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy," Kyklos, Wiley Blackwell, vol. 59(1), pages 17-42, February.
    5. David Dollar & Craig Burnside, 2000. "Aid, Policies, and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 847-868, September.
    6. 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.
    7. William Easterly, 2003. "Can Foreign Aid Buy Growth?," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 23-48, Summer.
    8. John Bradley & Gerhard Untiedt, 2008. "EU cohesion policy and “conditional” effectiveness: What do cross-section regressions tell us?," Working Papers 4-2008, GEFRA - Gesellschaft fuer Finanz- und Regionalanalysen.
    9. Michele Boldrin & Fabio Canova, 2001. "Inequality and convergence in Europe's regions: reconsidering European regional policies," Economic Policy, CEPR;CES;MSH, vol. 16(32), pages 205-253, April.
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    More about this item

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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