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Institutional change and the development of lagging regions in Europe

Andrés Rodríguez-Pose () and Tobias Ketterer ()

No 1808, Working Papers. Collection A: Public economics, governance and decentralization from Universidade de Vigo, GEN - Governance and Economics research Network

Abstract: According to the dominant economic theories, economic growth is the result of a combination of three factors – physical capital, human capital or labour, and innovation –plus a residual factor or error term, which represents what we do not know or cannotexplain. Depending on whether a neoclassical growth (Solow, 1956; Swan, 1956) or an endogenous growth approach is adopted (Romer, 1986: Lucas, 1988), the weight attributed to each of the components varies, but they remain, in different guises the fundamental drivers informing development policies across the world. The European Union’s (EU) regional development and cohesion policy has been no exception. The bulk of cohesion investments have been channelled towards improving the infrastructure endowment and accessibility of the least developed regions of the EU, as well as increasing the availability and quality of human resources, and developing the innovative capacity of individuals and firms across lagging areas of Europe.

Keywords: changes; development; regions; Europe. (search for similar items in EconPapers)
JEL-codes: H76 O18 O21 R58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-gro and nep-sbm
Date: 2018-02
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http://infogen.webs.uvigo.es/WP/WP1808.pdf First version, 2018 (application/pdf)

Related works:
Working Paper: Institutional change and the development of lagging regions in Europe (2019) Downloads
Working Paper: Institutional change and the development of lagging regions in Europe (2019) Downloads
Working Paper: Institutional change and the development of lagging regions in Europe (2018) Downloads
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