Productivity Dynamics across European Regions: theImpact of Structural and Cohesion Funds

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Abstract

This paper analyzes the impact of the European Union regional policy of the threeprogramming periods 1975-1988, 1989-1993 and 1994-1999 on the dynamics of productivity of European regions. On average, funding had a positive, but concave,effect on productivity growth. In particular, a share of funds on GVA of 10% GVAis estimated to raise the regional growth rate of about 0.9% per year. However, byseparately considering the three programming periods and the composition of thefunds according to the objectives defined by the EU, we find that: i) only the fundsallocated in the second and third programming periods, when they remarkably increased, had a significant impact; and ii) only Objective 1 and Cohesion funds playeda significantly positive impact, while funds devoted to Objectives 2, 3, 4 and 5 had anegative or non significant impact. The results are robust to potential endogeneityof funds and spatial dependence.
Lingua originaleEnglish
Titolo della pubblicazione ospiteDiscussion Paper n. 84
Numero di pagine0
Stato di pubblicazionePublished - 2009

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