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Vliv realizace strukturální pomoci Evropské unie na hospodářský cyklus a fiskální politiku České republiky
[The Influence of the Implementation of European Union Cohesion Policy on the Economic Cycle and the Fiscal Policy in the Czech Republic]

Author

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  • Pavla Chmelová

Abstract

This article examines the impact of EU Cohesion Policy delivered through the European Structural and Investment Funds in the economic cycle and the fiscal policy of the Czech Republic in the years 2004-2015. Revenue arising from the EU increases aggregate demand, and this is a regular instrument for stabilizing fiscal policy. The key conclusion of the analysis is based on regression analysis, and there is demonstrate the procyclical nature of the EU Regional Policy and its negative impact on the effectiveness, efficiency, and economy of national resources. Temporal definition of programming periods and the ability to prepare projects and their implementation in the context of national and EU legal framework were identified as the main determinants of procyclicality. However, these factors make the cyclicality purely accidental and cohesion policy without links to the economic cycle and performance of member countries.

Suggested Citation

  • Pavla Chmelová, 2018. "Vliv realizace strukturální pomoci Evropské unie na hospodářský cyklus a fiskální politiku České republiky [The Influence of the Implementation of European Union Cohesion Policy on the Economic Cyc," Politická ekonomie, Prague University of Economics and Business, vol. 2018(2), pages 157-177.
    • Handle: RePEc:prg:jnlpol:v:2018:y:2018:i:2:id:1182:p:157-177
    DOI: 10.18267/j.polek.1182
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    References listed on IDEAS

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    1. Sjef Ederveen & Henri L.F. de Groot & Richard Nahuis, 2006. "Fertile Soil for Structural Funds?A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy," Kyklos, Wiley Blackwell, vol. 59(1), pages 17-42, February.
    2. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    3. Sandy Dall'Erba & Rachel Guillain & Julie Le Gallo, 2011. "The local vs global dilemma of the effects of structural funds," Post-Print halshs-01226500, HAL.
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    Cited by:

    1. Lubica Stiblarova, 2024. "Transmission channels of the cohesion policy: direct and indirect effects on EA synchronicity," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 51(2), pages 379-402, May.

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    More about this item

    Keywords

    European Union; European structural and investment funds; cohesion policy; econo-mic cycle; regression analysis; fiscal policy; pro-cyclicality;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • H40 - Public Economics - - Publicly Provided Goods - - - General
    • H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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