Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States

Sierhej, Robert; Rosenberg, Christoph B.

doi:10.5089/9781451866414.001

Cited by 3 publications

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“…Through the Structural Funds, the European Union sought to ensure economic and social equilibrium to address regional disparities and to increase the growth potential in the country or region to which funds were allocated. (Sierhej & Rosenberg, 2007).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The Impact of The Structural Funds on Competitiveness of Small and Medium-Sized Enterprises

Vojtovič¹

2016

JOC

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The article deals with the analysis of the use of EU Structural Funds as the main tool of cohesion policy. The cohesion policy aims to reduce economic and social disparities in regional development. A part of that policy is financing of small and medium-sized enterprises from the Structural Funds for the purposes of their impact on the economic development of underdeveloped regions and to increase the competitiveness of small and medium-sized enterprises. The main focus is on determining the effect of EU Structural Funds on competitiveness of SMEs in Slovakia in the programming period 2007-2013. Based on the empirical research, we have analysed the data and we found out how the management of small and medium-sized enterprises assesses the use of EU Structural Funds and their impact on the competitiveness of enterprises managed by them. The results of our analysis and research indicate signs of an inefficient use of financial support from the Structural Funds, which is often directed to solve diverse acute economic problems. However, these funds do not increase their competitiveness.

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Section: Theoretical Backgroundmentioning

confidence: 99%

The Impact of The Structural Funds on Competitiveness of Small and Medium-Sized Enterprises

Vojtovič¹

2016

JOC

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“…Structural funds had already been a pro-cyclical force during the boom years (Sierhej and Rosenberg, 2009). 35 Starting in late 2008, however, they turned into a tool for buffering the downturn.…”

Section: Bustmentioning

confidence: 99%

The EU Factor in Fat Times and in Lean: Did the EU Amplify the Boom and Soften the Bust?

Jacoby

2013

J of Common Market Studies

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This article describes the EU's impact on economic performance in the new Member States since the advent of membership. It first deals with the EU's role in promoting the economic boom that marked the region up to 2007, emphasizing the role of the single market and of the EU in anchoring and encouraging economic policy liberalization. The second section investigates the EU role in buffering the bust that occurred after 2007, looking at structural fund spending and financial sector instruments to enhance liquidity. I argue the EU had a (mostly unintentional) pro-cyclical effect that fuelled the boom and contributed to setting up the region for a very hard fall during the bust. I also show the EU efforts to buffer the hard times were far quicker in the area of structural fund spending compared to very slow and limited innovation in liquidity provision, especially for non-eurozone states.

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The Credit Boom in the EU New Member States: Bad Luck or Bad Policies?

Fund¹

2010

IMF Working Papers

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This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.In the past decade, most of the EU New Member States experienced a severe credit-boom bust cycle. This paper argues that the credit boom-bust cycle was to a large extent the result of factors external to the region ("bad luck"). Rapid credit growth followed from a high liquidity in global markets and the particular attractiveness of "new Europe" for capital flows, while the end of the credit cycle was brought about by a global crisis. However, the fact that some countries managed to avoid most of the excesses, including asset price bubbles and foreign exchange lending, suggests that policies and policy failures ("bad policies")-in particular overly expansionary macroeconomic settings and excessively optimistic views on prudential risks-also have played a critical role.

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Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States

Cited by 3 publications

References 0 publications

The Impact of The Structural Funds on Competitiveness of Small and Medium-Sized Enterprises

The Impact of The Structural Funds on Competitiveness of Small and Medium-Sized Enterprises

The EU Factor in Fat Times and in Lean: Did the EU Amplify the Boom and Soften the Bust?

The Credit Boom in the EU New Member States: Bad Luck or Bad Policies?

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