Possibilities to Quantify the Impact of Accessing Structural Funds and Cohesion Using Econometric Models

Abstract

The research in this study was aimed at identifying those pros and cons regarding the fact that European funds are an important source of funding for regional development. In this sense, through the architecture of this study I conducted a detailed investigation through which I tried to highlight those aspects that reflect the impact of the absorption of European funds on the Romanian economy. At the same time, through this investigation, we aimed to obtain an overview of one of the most controversial topics related to European funds, namely assessing the impact of accessing European funds using econometric models. We approached this complex issue by developing a HEROM type macroeconometric model. This was done on the grounds that the new trend in the methodology for analyzing, assessing and interpreting the impact of European Union cohesion and regional development policy on Member States' economies is the use of macroeconomic quantification models. In addition, I appreciate that it should be noted that the HEROM model is the Romanian version of the HERMIN model which is one of the most popular simulation models used in this regard.

Keywords

• herom model
• econometric model
• hermin model
• macroeconomic simulation model