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The European Fund for Strategic Investments: The Rhomolo-EIB 2019 update

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Abstract

The European Fund for Strategic Investments (EFSI) is the central pillar of the Investment Plan for Europe. It tackles the post-crisis investment gap in the EU and aims to revive investment in strategic projects in all EU Member States. EFSI was launched jointly by the European Investment Bank (EIB) Group and the European Commission. Every year, policy simulations are carried out using the RHOMOLO-EIB Computable General Equilibrium (CGE) model in order to assess the macroeconomic effects of EFSI-supported operations. This Policy Insight contains the result of the latest set of simulations quantifying the estimated macroeconomic impact on EU GDP and employment of all EFSI-supported operations approved as of June 13, 2019. The EFSI is contributing significantly to job creation and growth. The EIB-JRC estimates suggest that, by 2019, it has already, created more than 1 million jobs (1.7 million by 2022), with a positive contribution to GDP of 0.9% (1.8% by 2022) over the baseline. The results of the analysis highlight the importance of investments for jobs and economic growth.

Suggested Citation

  • Martin Christensen & Georg Weiers & Andrea Conte & Marcin Wolski & Simone Salotti, 2019. "The European Fund for Strategic Investments: The Rhomolo-EIB 2019 update," JRC Working Papers JRC118260, Joint Research Centre (Seville site).
  • Handle: RePEc:ipt:iptwpa:jrc118260
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    1. 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 Working Papers JRC111861, Joint Research Centre (Seville site).
    2. Martin Christensen & Andrea Conte & Filippo Di Pietro & Patrizio Lecca & Giovanni Mandras & Simone Salotti, 2018. "The third pillar of the Investment Plan for Europe: An impact assessment using the RHOMOLO model," JRC Working Papers on Territorial Modelling and Analysis 2018-02, Joint Research Centre (Seville site).
    3. Mark Thissen & Olga Ivanova & Giovanni Mandras & Trond Husby, 2019. "European NUTS 2 regions: construction of interregional trade-linked Supply and Use tables with consistent transport flows," JRC Working Papers on Territorial Modelling and Analysis 2019-01, Joint Research Centre (Seville site).
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    More about this item

    Keywords

    rhomolo; region; growth; efsi; eib; investments;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

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