Regional Policy and rent-seeking

Kjetil Bjorvatn and Nicola Coniglio

ERSA conference papers from European Regional Science Association

Abstract: The most important policy instrument to promote regional development in the European Union is Strucutral Funds, covering approximately a third of the EU budget. An empirical analysis demonstrates that these funds have on average been ineffective in speeding up the process of convergence with in the European Union. Only in countries with sufficiently good institutions have these funds contributed positively to regional development. Our analysis attempts to shed light on how investment subsidies may create industrialization, and more importantly, how poor quality institutions may prevent this strategy from succeeding. JEL codes: Keywords: Regional policy, rent seeking, industrialization

Date: 2004-08
New Economics Papers: this item is included in nep-eec and nep-geo
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Persistent link: https://EconPapers.repec.org/RePEc:wiw:wiwrsa:ersa04p162

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