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EU governance and EU funds - testing the effectiveness of EU funds in a sound macroeconomic framework

Author

Listed:
  • Mariana Tomova
  • Andras Rezessy
  • Artur Lenkowski
  • Emmanuelle Maincent

Abstract

The objective of this paper is to empirically analyse whether sound fiscal and macroeconomic policies are beneficial to the achievement of the socio-economic development objectives enshrined in the Treaty on the Functioning of the European Union, and in particular whether sound policies have an impact on the effectiveness of European Structural and Investment Funds (ESI funds) in helping Member States to progress towards these socio-economic development objectives. Our econometric results show that sound fiscal policies proxied by low levels of government debt and deficit and sound macroeconomic policies proxied by low levels of net foreign liabilities are beneficial to socio-economic development. Furthermore, we find evidence that ESI funds are effective in helping Member States to enhance socio-economic development and this effectiveness is higher when combined with sound national fiscal and macroeconomic policies.

Suggested Citation

  • Mariana Tomova & Andras Rezessy & Artur Lenkowski & Emmanuelle Maincent, 2013. "EU governance and EU funds - testing the effectiveness of EU funds in a sound macroeconomic framework," European Economy - Economic Papers 2008 - 2015 510, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:ecopap:0510
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    Cited by:

    1. Andrés Rodríguez-Pose & Lewis Dijkstra, 2021. "Does Cohesion Policy reduce EU discontent and Euroscepticism?," Regional Studies, Taylor & Francis Journals, vol. 55(2), pages 354-369, February.
    2. Zaman, Gheorghe & Georgescu, George, 2014. "Absorbţia fondurilor structurale şi de coeziune în Romania: bilanţul perioadei 2007-2013 şi lecţii pentru exerciţiul financiar curent [The absorption of structural and cohesion funds in Romania: ba," MPRA Paper 56144, University Library of Munich, Germany.
    3. Vicente Esteve & Cecilio Tamarit, 2018. "Public debt and economic growth in Spain, 1851–2013," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 12(2), pages 219-249, May.
    4. Elzbieta Ociepa-Kicinska & Rafal Czyzycki & Piotr Szklarz & Rafal Kloska, 2021. "Impact of EU Funds on the Level of Regional Socio-Economic Development: The Case of Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 328-362.
    5. Dimitar Hadjinikolov, 2017. "Bulgaria in the EU Cohesion Process," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 213-225, June.
    6. Benoit Dicharry & Nguyen-Van Phu & Thi Kim Cuong Pham, 2019. "La politique de cohésion de l’UE et la convergence économique," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 41(1), pages 5-11, December.
    7. Dicharry, Benoit & Nguyen-Van, Phu & Pham, Thi Kim Cuong, 2019. "“The winner takes it all” or a story of the optimal allocation of the European Cohesion Fund," European Journal of Political Economy, Elsevier, vol. 59(C), pages 385-399.
    8. Gheorghe MATEI & Elena Mădălina OPRIȚESCU, 2017. "Methods of Quantifying the Impact of Structural Funds Absorption on Regional Development," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(19), pages 19-27, November.
    9. Lukasz Pietak, 2021. "Structural Funds and Convergence in Poland," Hacienda Pública Española / Review of Public Economics, IEF, vol. 236(1), pages 3-37, March.
    10. Mindaugas Butkus & Alma Maciulyte-Sniukiene & Kristina Matuzeviciute, 2020. "Heterogeneous growth outcomes of the EU’s regional financial support mediated by institutions with some empirical evidences at NUTS 3 level," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 40(1), pages 33-66, April.
    11. Hadjinikolov, Dimitar, 2017. "Bulgaria in the EU Cohesion Process," MPRA Paper 79885, University Library of Munich, Germany.
    12. Felix Angel Popescu, 2015. "Evolutions In Implementing Structural And Cohesion Funds In," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 742-748, December.
    13. Iana Paliova & Mr. Tonny Lybek, 2014. "Bulgaria’s EU Funds Absorption: Maximizing the Potential!," IMF Working Papers 2014/021, International Monetary Fund.
    14. Benoit Dicharry & Nguyen-Van Phu & Thi Kim Cuong Pham, 2019. "La politique de cohésion de l’UE et la convergence économique," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 41(1), pages 5-11, November.

    More about this item

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H5 - Public Economics - - National Government Expenditures and Related Policies

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