Search

Traditionally, the effectiveness of European Cohesion Policy has been evaluated in terms of GDP growth rate. In this paper, we consider the effect of the regional policy in terms of its impacts on two specific fields of intervention, namely 'research, technological development and innovation', and 'transport infrastructure'. Our econometric approach involves the use of a non-parametric regression discontinuity design technique to a uniquely-disaggregated Cohesion Policy dataset broken down according to the specific objectives of each stream of funding. The analysis considers different time intervals and sub-samples. Our results demonstrate a positive impact of Cohesion Policy interventions in these two specific fields of intervention. [ABSTRACT FROM AUTHOR]

This paper analyses the determinants of regional economic growth in the European Union adopting a non-parametric approach. Although the local-linear kernel estimator applied does not explicitly take into account the spatial dimension of the data, it is found to be consistent in our context. In addition, the geographically weighted regression turns out to be less efficient. We obtain evidence of a non-linear relationship between regional growth and its determinants in the form of parameter heterogeneity and threshold effects. These non-linearities mainly affect the initial productivity of labour, the human capital endowment and, as a novelty, the level of infrastructures. [ABSTRACT FROM AUTHOR]

Many European countries have used the investment model of Public Private Partnership (PPP, P3 or P3) to implement large-scale infrastructure projects and to accelerate development, but Romania has little experience with such type of projects, although there is a strong economic reason for implementing infrastructure investments, because it can easily be seen the need for investments in this field. This paper is determining the literature review on PPPs, how the regulations of the member states of the European Union is implemented by dedicated PPP units at the national level and, finally, presents the techniques and processes of the contract management. Financing Public Private Partnerships cannot ignore the international economic and financial context. As it could be seen in this paper, the data on PPP market shows that the crisis had a negative impact on their development and implementation at the level of the EU Member States. EU has been promoting PPPs as an important instrument of accomplishing the goals of Europe 2020 strategy. In Romania, the interest in PPPs must be encouraged and the knowledge in this field could increase the administrative capacity of the country. [ABSTRACT FROM AUTHOR]

Transport infrastructure has represented one of the cornerstones of development and cohesion strategies in the European Union (EU) and elsewhere in the world. However, despite the considerable funds devoted to it, its impact remains controversial. This paper revisits the question of to what extent transport infrastructure endowment - proxied by regional motorways - has contributed to regional growth in the EU between 1990 and 2004. It analyses infrastructure in relationship to other factors which may condition economic growth, such as innovation, migration, and the local 'social filter', taking also into account the geographical component of intervention in transport infrastructure and innovation. The results of the two-way fixed-effect (static) and difference GMM (dynamic) panel data regressions indicate that infrastructure endowment is a relatively poor predictor of economic growth and that regional growth in the EU results from a combination of an adequate 'social filter', good innovation capacity, both in the region and in neighbouring areas, and a region's capacity to attract migrants. The meagre returns of infrastructure endowment on economic growth raise interesting questions about the opportunity costs of further infrastructure investments across most of Western Europe. Resumen La infraestructura de transporte ha venido siendo una de las piedras angulares de las estrategias de desarrollo y cohesión en la Unión Europea ( UE) y el resto del mundo. Sin embargo, y a pesar de los considerables recursos que se le ha dedicado, su impacto es un tema controvertido. Este artículo revisa el interrogante de hasta que punto ha contribuido la dotación de infraestructura de transporte - representada por las autopistas regionales - al crecimiento regional en la UE entre 1990 y 2004. Se analiza la infraestructura en relación a otros factores que podrían condicionar el crecimiento económico, como la innovación, la migración, y el 'filtro social' local, teniendo en cuenta asimismo el componente geográfico de la intervención en la infraestructura de transporte y la innovación. Los resultados de las regresiones de datos de panel de efectos fijos (método estático) de doble vía y MGM por diferencias (método dinámico) indican que la dotación de infraestructura es un pobre indicador del crecimiento económico y que el crecimiento regional en la UE tiene su origen en una combinación de un 'filtro social' adecuado, en una buena capacidad innovadora tanto en la región como en áreas vecinas, y en la capacidad de la región de atraer migración. Los escasos retornos para el crecimiento económico de la dotación de infraestructura suscitan cuestiones interesantes sobre los costos de oportunidad de futuras inversiones en infraestructura para la mayoría de Europa Occidental. [ABSTRACT FROM AUTHOR]