Asymmetric effects of EU cohesion policy on EU regional growth: The role of macroeconomic uncertainty

Mehmet Pinar and Burhan Karahasan

The Journal of Economic Asymmetries, 2024, vol. 30, issue C

Abstract: Cohesion policy and the EU funds have been key elements for territorial integration in Europe. Evidence shows that EU funds support the growth performance of regions. However, less has been discussed about the potential impact of macroeconomic uncertainty on the effectiveness of EU funds. Our analyses confirm that EU funds are important in understanding regional economic growth differences. However, the extent of macroeconomic uncertainty decreases the effectiveness of the EU funds. Our results are robust in including local controls, non-linearity of the EU funds’ effect, different EU fund categories, and regional heterogeneity in the EU.

Keywords: EU funds; Structural funds; Cohesion policy; Regional growth; Uncertainty (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecas:v:30:y:2024:i:c:s1703494924000318

DOI: 10.1016/j.jeca.2024.e00382

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