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The Impact of the EU Cohesion Policy Spending: A Model-Based Assessment

In: Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume II

Author

Listed:
  • János Varga

    (DG ECFIN, European Commission)

  • Jan in ’t Veld

    (DG ECFIN, European Commission)

Abstract

EU cohesion policy supports investment in infrastructure, R&D and human capital in Europe’s poorer regions. This chapter summarises model-based assessments of the potential macro-economic impact of these fiscal transfers using a micro-founded dynamic general equilibrium model with semi-endogenous growth and human capital accumulation. It gives an overview of total cohesion spending over the three programme periods from 2000 to 2020. The simulations show the potential benefits of Structural Funds with significant output gains in the long run due to sizeable productivity improvements.

Suggested Citation

  • János Varga & Jan in ’t Veld, 2021. "The Impact of the EU Cohesion Policy Spending: A Model-Based Assessment," Studies in Economic Transition, in: Michael Landesmann & István P. Székely (ed.), Does EU Membership Facilitate Convergence? The Experience of the EU's Eastern Enlargement - Volume II, chapter 0, pages 89-112, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-030-57702-5_5
    DOI: 10.1007/978-3-030-57702-5_5
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    More about this item

    Keywords

    Cohesion policy; Endogenous growth; R&D; Dynamic general equilibrium modelling;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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