International Handbook on the Economics of Integration, Volume III
Show Less

International Handbook on the Economics of Integration, Volume III

Factor Mobility, Agriculture, Environment and Quantitative Studies

  • Elgar original reference

Edited by Miroslav N. Jovanović

With this Handbook, Miroslav Jovanović has provided readers with both an excellent stand-alone original reference book as well as an integral part of a comprehensive three-volume set. This introduction into a rich and expanding academic and practical world of international economic integration also provides a theoretical and analytical framework to the reader, presenting select analytical studies and encouraging further research.
Buy Book in Print
Show Summary Details

Chapter 16: Econometric Evaluation of EU Cohesion Policy: A Survey

Tobias Hagen and Philipp Mohl

Extract

16 Econometric evaluation of EU Cohesion Policy: a survey1 Tobias Hagen and Philipp Mohl 1 INTRODUCTION More than one-third of the total budget of the European Union (EU) is spent on the so-called Cohesion Policy2 via the structural funds (SF). Its main purpose is to promote the ‘overall harmonious development’ of the EU, to reduce disparities between the levels of development of the various regions, and to strengthen its ‘economic, social and territorial cohesion’ (Article 158 of the Treaty establishing the European Community). By making explicit the goal of reducing disparities in economic development, the Treaty implicitly requires that EU Cohesion Policy should affect resource allocation and factor endowment to promote growth. Hence, ‘cohesion policies are aimed at increasing investment to achieve higher growth and are not specifically concerned either with expanding consumption directly or with redistribution of income’ (European Commission, 2001, p. 117). European Cohesion Policy is successful if disparities between regions are decreased. Therefore, the convergence process of EU regions is a question of high political importance. Generally, the empirical evidence points to a small convergence effect of all or some European regions at least (Barro and Sala-i-Martin, 1991; Sala-i-Martin, 1996; see, for a survey, Eckey and Türk, 2006). However, whether the potential success with regard to convergence results from the Cohesion Policy is an open question. Investigating the impact of the policy on economic growth and convergence is a wide research topic in applied econometric research. Nevertheless, the empirical evidence has provided mixed, if not contradictory,...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.