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An Institutional Analysis of the Europe 2020 Strategy

Author

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  • Francesco Pasimeni

    (University of Sussex)

  • Paolo Pasimeni

    (Directorate General for Employment and Social Affairs)

Abstract

The inherent complexity of the Europe 2020 Strategy, focused on areas where the European Commission has not full jurisdictional competence, increases the relevance of a timely and precise monitoring system and of effective and efficient institutional settings. This paper performs a quantitative evaluation of countries’ performances, using the Europe 2020 Index (Pasimeni in Soc Indic Res 110(2): 613–635, 2011. doi: 10.1007/s11205-011-9948-9 ). We observe differences among countries and across time, and investigate their determinants by means of a model including potential explanatory variables, such as level of wealth, growth, sustainability of public finances and institutions. We refer to institutions in the sense of North (J Econ Perspect 5(1):97–112, 1991), and apply the distinction between formal and informal ones. The analysis confirms the importance of formal and informal institutions, both in absolute and in relative terms, compared with the other factors considered. Institutional variables, such as good governance and social capital, are the most significant ones and have the strongest estimated effects on countries’ performances.

Suggested Citation

  • Francesco Pasimeni & Paolo Pasimeni, 2016. "An Institutional Analysis of the Europe 2020 Strategy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 127(3), pages 1021-1038, July.
  • Handle: RePEc:spr:soinre:v:127:y:2016:i:3:d:10.1007_s11205-015-1013-7
    DOI: 10.1007/s11205-015-1013-7
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    More about this item

    Keywords

    Europe 2020 Strategy; Europe 2020 Index; Institutions; Indicators; Social capital; Governance;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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