THE ABSORPTION CAPACITY OF EU FUNDS. FINANCIAL EXECUTION OF EUROPEAN REGIONAL DEVELOPMENT FUND AT EU LEVEL.

A growing number of European countries, especially new Member States, have focused on the absorption of EU funds, in order to restore growth after the outbreak of the financial crisis. These financial mechanisms are considered an attractive tool for financing investment opportunities, particularly in times of crisis, when private investment is low. However, the specialty literature has highlighted the role of European funds in support of economic growth in the short term macroeconomic only in empirical terms, including, in particular, the description of structural funds and key elements that define them (types of funds, objectives, areas of intervention, etc.). These issues are quite important because they define itself the project planning and development of the proposal, since the final selection of eligible projects is done monitoring the match, on the one hand, with the legislative regulations specific for each structural fund (same for all member states) but on the other hand, with the priority objectives and measures specific sectorial operational programs (country-specific). The basic regulations on the Structural Funds can be found in Council Regulation (EC) No EU. 1260 of 21 June 1999 on general provisions of structural and cohesion funds. [ABSTRACT FROM AUTHOR]