TY  - GEN
TI  - Does EU cohesion policy work? Theory and evidence
AU  - Fiaschi, Davide
AU  - Lavezzi, ANDREA MARIO
AU  - Parenti, Angela
PY  - 2018
LA  - eng
KW  - European regional disparities
KW  - European regional policy
KW  - spatial panel model
KW  - spatial spillovers
KW  - structural and cohesion funds
AB  - This paper evaluates the effectiveness of European Cohesion Policy in the regions of 12 EU countries in the period 1991–2008, on the basis of a spatial growth model, which allows for the identification of both direct and indirect effects of EU funds on GDP per worker growth. We find that "Objective 1" funds are characterized by strong spatial externalities and a positive and concave effect on the growth of GDP per worker, which reaches a peak at the ratio funds/GDP of approximately 3 percent and becomes non-significant after 4 percent. "Objective 2" and "Cohesion" funds have nonsignificant effects, while all the other funds exert a positive and significant effect, but their size is very limited. EU Cohesion Policy, moreover, appears to have increased its effectiveness over time. In the period 2000–2006 Objective 1 funds are estimated to have a median multiplier equal to 1.52, and to have added 0.37 percent to the GDP per worker growth. Overall, in the period 1991–2008, funds are estimated to have added 1.4 percent to the median annual growth, and to have reduced regional disparities of 8 basis points in terms of the Gini index.
UR  - http://hdl.handle.net/11568/891951
DO  - 10.1111/jors.12364
UR  - https://www.pollux-fid.de/r/base-ftunivpisairis:oai:arpi.unipi.it:11568/891951
H1  - Pollux (Fachinformationsdienst Politikwissenschaft)
ER  -