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

Mariana Tomova, András Rezessy, Artur Lenkowski and Emmanuelle Maincent

No 510, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

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.

JEL-codes: D62 E61 E62 H5 (search for similar items in EconPapers)
Pages: 76 pages
Date: 2013-12
New Economics Papers: this item is included in nep-eur and nep-mac
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0510

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