Regional Policy and rent-seeking
The most important policy instrument to promote regional development in the European Union is Strucutral Funds, covering approximately a third of the EU budget. An empirical analysis demonstrates that these funds have on average been ineffective in speeding up the process of convergence with in the European Union. Only in countries with sufficiently good institutions have these funds contributed positively to regional development. Our analysis attempts to shed light on how investment subsidies may create industrialization, and more importantly, how poor quality institutions may prevent this strategy from succeeding. JEL codes: Keywords: Regional policy, rent seeking, industrialization
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- Murphy, Kevin M. & Shleifer, Andrei & Vishny, Robert W., 1989.
"Industrialization and the Big Push,"
3606235, Harvard University Department of Economics.
- Sjef Ederveen & Henri L . F. Groot & Richard Nahuis, 2006.
"Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy,"
Wiley Blackwell, vol. 59(1), pages 17-42, 02.
- S. Ederveen & H.L.F. de Groot & R. Nahuis, 2003. "Fertile Soil for Structural Funds? A panel data analysis of the conditional effectiveness of European cohesion policy," Working Papers 03-14, Utrecht School of Economics.
- Sjef Ederveen & Henri de Groot & Richard Nahuis, 2002. "Fertile soil for structural funds? A panel data analysis of the conditional effectiveness of European cohesion policy," CPB Discussion Paper 10, CPB Netherlands Bureau for Economic Policy Analysis.
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