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Financing Large-scale EU Infrastructure Projects

Author

Listed:
  • Thierry Latreille

    (Agence Française de Développement)

  • Henri Sterdyniak

    (Observatoire français des conjonctures économiques)

  • Paola Veroni

    (Observatoire français des conjonctures économiques)

Abstract

This study discusses the proposal which consists of financing large-scale infrastructure investments by issuing EU bonds, first introduced by President Delors in his White Paper on “Growth, Competitiveness and Employment” in 1993. This proposal has been partly implemented insofar as the European Commission and the EIB have financed a number of large projects. But it is not considered as a major tool of European economic policy. Monetary policy is the major instrument of short and medium-run oriented strategies while fiscal policy is mainly devoted to the reduction of public deficits and debts. From a more structural point of view, European policies stress the liberalisation of product and labour markets over the last years. In the current context, shall the proposal on large-scale investments be abandoned or shall it still be part of European strategy? (...).

Suggested Citation

  • Thierry Latreille & Henri Sterdyniak & Paola Veroni, 2000. "Financing Large-scale EU Infrastructure Projects," Sciences Po publications n°ECON 122 EN, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/2530
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    References listed on IDEAS

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    1. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720.
    2. Petit, Pascal, 1993. "Employment and technical change," CEPREMAP Working Papers (Couverture Orange) 9330, CEPREMAP.
    3. P. Sylos Labini, 1999. "The employment issue: investment, flexibility and the competition of developing countries," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 52(210), pages 257-280.
    4. P. Sylos Labini, 1999. "The employment issue: investment, flexibility and the competition of developing countries," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 52(210), pages 257-280.
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