Does EU cohesion policy promote growth? : evidence from regional data and alternative econometric approaches


Mohl, Philipp ; Hagen, Tobias


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URL: http://ub-madoc.bib.uni-mannheim.de/2155
URN: urn:nbn:de:bsz:180-madoc-21553
Document Type: Working paper
Year of publication: 2008
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C21 O47 R12 R11 ,
Subject headings (SWD): Europäische Union , Strukturfonds , Wirkungsanalyse , Wirtschaftspolitik , Regionales Wirtschaftswachstum
Keywords (English): EU structural funds , economic growth , spatial econometrics
Abstract: This paper analyses the growth effects of EU structural funds using a new panel dataset of 124 NUTS-1 / NUTS-2 regions over the time period 1995-2005. We extend the current literature with regard to at least three aspects: First of all, we extend the time period of investigation, using structural funds payments of the last Financial Perspective 2000-2006 that have not been analysed before. Second, we use more precise measures of structural funds by distinguishing between Objective 1, 2 and 3 payments and by investigating the impact of time lags more carefully. Third, we examine the robustness of our results by comparing different econometric approaches highlighting specific methodological problems. Apart from "classical" panel data methods like system GMM, we apply spatial panel econometric techniques. The empirical evidence indicates that the Objective 1 payments in particular have a positive and significant impact on growth, whereas Objective 2 and 3 payments negatively affect the regions' growth rates. Furthermore, our results show that the growth impact occurs with a time lag of approximately two to three years.
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Mohl, Philipp ; Hagen, Tobias (2008) Does EU cohesion policy promote growth? : evidence from regional data and alternative econometric approaches. Open Access [Working paper]
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