The Recovery and Resilience Facility: A Springboard for a Renaissance of Public Investments in Europe?

Francesco Corti, Daniel Gros, Tomas Ruiz, Alessandro Liscai, Tamas Kiss-Galfalvi, David Gstrein, Elena Herold and Mathias Dolls

No 40, EconPol Policy Brief from ifo Institute - Leibniz Institute for Economic Research at the University of Munich

Abstract: Key messages: The Policy Brief analyzes to what extent the funds provided by the Recovery and Resilience Facility (RRF) are used by member states to fnance new projects (additionality of public investments). The analysis shows that in the EU-27 there is no signifcant relationship between the amount of RRF grants (in % of GDP) and the acceleration in public investment. This suggests that RRF funds are mainly used to fnance existing investment projects. An in-depth analysis of the National Recovery Resilience Plans of Austria, Belgium, Germany, Spain, Italy and Portugal reveals substantial heterogeneity across countries. The share of new investments projects is smallest in Austria (19%) and Germany (20%) and highest in Belgium (77%). The shares amount to 40% in Spain and to 64% in Italy and Portugal.

Date: 2021
New Economics Papers: this item is included in nep-ppm
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https://www.ifo.de/DocDL/EconPol_Policy_Brief_40_Recovery-Resilience.pdf (application/pdf)

Related works:
Working Paper: The Recovery and Resilience Facility: A springboard for a renaissance of public investments in Europe? (2022)
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