European Funds and the Dynamics of Economic Growth Among Eu Regions: A Spatial Modelling Approach

Abstract

Contemporary development policy concentrates predominantly on reducing noticeable economic differences in a spatial system, and an important role in this respect is played by EU Cohesion Policy. Owing to the considerable scale of financial exposure of Cohesion Policy, the assessment of effectiveness of the implemented measures and their greater reliance on evidence are of major significance. Despite numerous attempts to empirically verify the effects of EU funds spending, the problem remains unresolved, and the results of recent studies lead frequently to ambiguous conclusions.

Keywords

• european funds
• economic growth
• convergence
• spatial regression
• regions
• european union