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Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States

Author

Listed:
  • Robert Sierhej
  • Mr. Christoph B. Rosenberg

Abstract

Drawing on a dataset suitable for macroeconomic analysis, the paper provides an overview of the magnitudes, purpose and institutional implications of EU-related transfers to and from the new member states. A rough analysis of accounting identities and first-round effects shows that EU funds may have led to a fiscal drag of up to 1 percent of GDP and an additional aggregate demand stimulus of up to 1 percent of GDP during the first years of membership. These effects are likely to increase as additional funding become available under the new financial perspective, pointing to the need to consider policy tradeoffs.

Suggested Citation

  • Robert Sierhej & Mr. Christoph B. Rosenberg, 2007. "Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States," IMF Working Papers 2007/077, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2007/077
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=20620
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    Citations

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    Cited by:

    1. Philip Levitz & Grigore Pop-Eleches, 2010. "Monitoring, Money and Migrants: Countering Post-Accession Backsliding in Bulgaria and Romania," Europe-Asia Studies, Taylor & Francis Journals, vol. 62(3), pages 461-479.
    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. Marcin Piątkowski, 2010. "Polityka podatkowa w Europie Środowo - Wschodniej - konkurować czy harmonizować?," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1-2, pages 51-66.
    4. Marcin, Piatkowski, 2009. "The Coming Golden Age of New Europe," MPRA Paper 19523, University Library of Munich, Germany.
    5. International Monetary Fund, 2008. "Macroeconomic Effects of EU Transfers in New Member States," IMF Working Papers 2008/223, International Monetary Fund.
    6. Mr. Ruben V Atoyan & Mr. Dustin Smith & Mr. Albert Jaeger, 2012. "The Pre-Crisis Capital Flow Surge to Emerging Europe: Did Countercyclical Fiscal Policy Make a Difference?," IMF Working Papers 2012/222, International Monetary Fund.
    7. International Monetary Fund, 2010. "The Credit Boom in the EU New Member States: Bad Luck or Bad Policies?," IMF Working Papers 2010/130, International Monetary Fund.
    8. Miss Catriona Purfield & Mr. Christoph B. Rosenberg, 2010. "Adjustment Under a Currency Peg: Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09," IMF Working Papers 2010/213, International Monetary Fund.
    9. Iana Paliova & Mr. Tonny Lybek, 2014. "Bulgaria’s EU Funds Absorption: Maximizing the Potential!," IMF Working Papers 2014/021, International Monetary Fund.
    10. International Monetary Fund, 2007. "Vulnerabilities in Emerging Southeastern Europe—How Much Cause for Concern?," IMF Working Papers 2007/236, International Monetary Fund.
    11. Jaroslaw Pietras, 2009. "EU Funds Provided to the New Member States: Relevance for ODA and Achieving the Monterrey Consensus," ECE Discussion Papers Series 2009_1, UNECE.

    More about this item

    Keywords

    WP; EU fund; fund; government;
    All these keywords.

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