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Cohesion Policy 2007-2015: The RHOMOLO assessment

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Abstract

The European Cohesion Policy 2007-2015 was implemented in challenging times due to the economic and financial crisis and widespread cuts to public investment. Cohesion Policy has been used to reach objectives related to employment, R&D, energy sustainability, education, and poverty and social exclusion. Policy simulations using the RHOMOLO dynamic CGE model show positive macro-economic effects of the policy at the EU level, with significant differences between less developed regions, transition regions, and more developed ones. Cohesion Policy funds mainly targeted the less developed regions which received 60% of the total investments, while transition regions and more developed ones received 24% and 16% of the total, respectively. RHOMOLO simulations estimate the long-run GDP impact of Cohesion Policy to be equal to +0.7% at the EU level, with peaks in some less developed regions above +5%. The cumulative multipliers associated with the Cohesion Policy funds are above one in most EU regions by 2030.

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  • Patrizio Lecca & Damiaan Persyn & Andrea Conte & Simone Salotti, 2018. "Cohesion Policy 2007-2015: The RHOMOLO assessment," JRC Research Reports JRC114185, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc114185
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    1. Francesco Di Comite & Patrizio Lecca & Philippe Monfort & Damiaan Persyn & Violeta Piculescu, 2018. "The impact of Cohesion Policy 2007-2015 in EU regions: Simulations with the RHOMOLO Interregional Dynamic General Equilibrium Model," JRC Working Papers on Territorial Modelling and Analysis 2018-03, Joint Research Centre.
    2. Patrizio Lecca & Javier Barbero Jimenez & Martin Aaroe Christensen & Andrea Conte & Francesco Di Comite & Jorge Diaz-Lanchas & Olga Diukanova & Giovanni Mandras & Damiaan Persyn & Stylianos Sakkas, 2018. "RHOMOLO V3:A Spatial Modelling Framework," JRC Research Reports JRC111861, Joint Research Centre.
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    More about this item

    Keywords

    rhomolo; region; growth; cohesion policy; modelling; general equilibrium;
    All these keywords.

    JEL classification:

    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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