Structural Funds and Regional Economic Growth: the Greek experience

Kehagia, Adamantia; Kyriazi, Foteini

doi:10.15353/rea.v13i3.3481

Cited by 5 publications

(3 citation statements)

References 16 publications

(13 reference statements)

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“…These studies highlight the importance of a robust institutional framework for fund management and the selection of economically viable and sustainable projects. Kehagia and Kyriazi (2021) and Antunes et al (2020) call for a strategic, meticulously planned, and closely monitored approach to the disbursement of EU funds, aiming to ensure that allocations are directed towards productive investments. These studies emphasize the need for policies promoting education and innovation to foster endogenous development dynamics on a regional scale, aligning with the goals of the Regional Development and Cohesion Policy beyond 2020.…”

Section: E Policy Implications and Recommendationsmentioning

confidence: 99%

European Structural and Investment Funds (ESIFs) and Regional Development across the European Union (EU)

Spilioti,

Anastasiou

2024

JRFM

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This scoping review synthesizes the evidence from eleven key studies to assess the impact of European Structural and Investment Funds (ESIFs) on regional development across the European Union (EU), focusing on fund efficiency, regional disparities and convergence, governance quality, economic freedom, and fund management. A systematic search was conducted across multiple databases to identify the relevant literature published up to 2023. Eleven studies were selected based on the date published and their focus on ESIFs’ role in regional development, employing a range of methodological approaches including Data Envelopment Analysis (DEA), spatial econometrics, and multivariate analyses. The thematic analysis identified four main categories: Methodological Approaches in Evaluating Fund Efficiency, Regional Disparities and Convergence, The Interconnection between Governance Quality, Economic Freedom, and the Efficiency of Structural Fund Management, and The Absorption Capacity and Fund Management. The review highlights the importance of sophisticated analytical tools in evaluating fund efficiency, with DEA and spatial econometrics providing critical insights into fund management efficiency. Studies underscored the nuanced efficacy of ESIFs in reducing regional disparities, albeit pointing to the need for more targeted fund allocation. Governance quality and economic freedom emerged as pivotal factors enhancing fund management efficiency, suggesting the potential of governance reforms in optimizing ESIF allocation and utilization. Challenges related to fund absorption and management were illuminated, advocating for enhanced institutional management capabilities and the development of innovative performance indicators. The findings of this scoping review contribute to a deeper understanding of the complexities surrounding ESIFs’ impact on regional development within the EU. They underscore the critical importance of governance quality, economic freedom, methodological rigor, and strategic fund allocation in enhancing the effectiveness of ESIFs. The review calls for tailored policy interventions and the integration of national and European funding strategies to maximize the impact of these programs on regional development and SME support. Future research should continue to refine these methodological approaches and explore the causal effects of funding, to enhance our understanding of ESIFs’ efficiency in promoting regional development and convergence within the European Union.

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Section: E Policy Implications and Recommendationsmentioning

confidence: 99%

European Structural and Investment Funds (ESIFs) and Regional Development across the European Union (EU)

Spilioti,

Anastasiou

2024

JRFM

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“…When we observe the impacts of EU funds on the Greek economy, a positive effect of the funds on real GDP and disposable income is noticeable, while the effect is somewhat less on investments. The financial crisis revealed the instability of the Greek economy (Kechagia and Kyriazi 2021). Bostan et al (2022) show in their study how EU funds are directly linked to an increase in the number of employees in companies in the medium and long term.…”

Section: Literature Reviewmentioning

confidence: 99%

Application of Successful EU Funds Absorption Models to Sustainable Regional Development

Šostar,

Ristanović,

de Alwis

2023

Economies

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The research paper comprehensively and consistently addresses all relevant theoretical areas related to the topic and includes an extensive empirical analysis of the absorption of EU funds and their impact on the sustainable development of Croatia, Slovenia, Hungary, and Poland. The analysis aims to investigate the efficiency of the absorption of funds from the EU, the impact of these funds on regional development of countries, and the reasons for such impacts. The “Regional Development Model Based on EU Funds” was tested with the aim of applying the model to the Republic of Croatia, countries in the region, and other European countries, to achieve a higher level of absorption of financial resources from the available EU funds. Data for the empirical analysis were collected using a highly structured survey questionnaire completed by a sample of 244 respondents involved in the preparation and implementation of EU-funded projects. The contribution of economic science in theoretical terms arises from the development of scientific knowledge and ideas about the importance of increasing the number of development projects that will increase the absorption of funds from the European Union, thereby increasing economic activities in Croatia and the region. The expected contribution of economic science in the applied sense is based on the formulation of the “Regional Development Model Based on EU Funds”, which is based on the application of knowledge, good practices, and stakeholder experiences, considering relevant indicators from available sources. The greatest contribution is demonstrated through testing the “Regional Development Model Based on EU Funds”, which is applicable to the Republic of Croatia, countries in the region, and other European countries over a longer period. Finally, research into the impact of EU funds on the regional development of recipient countries is considerably less represented and very modest, and is only in the “upswing” of systematic scientific research. The research aims to fill the gaps in research and to encourage the thinking of key stakeholders responsible for regional development, who should eventually realize the importance of defining a regional policy aimed at EU funds as a key to regional development and reducing regional disparities within countries.

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“…Up till now, there is an ongoing discussion on how the economic development of the members of the EU, as an economic community (hereinafter referred to as the Community), has taken place (Rapacki & Proochniak, 2008;Dobrzanski & Olszewski, 2019;Kehagia & Kyriazi, 2021). Before answering this question, a brief overview of the history of the creation of the Community is needed in order to shape the structural conditions of the survey.…”

Section: Introductionmentioning

confidence: 99%

Assessment of Economic Convergence Among Countries in the European Union

Szczepańska-Woszczyna

Gedvilaitė

Nazarko

et al. 2022

Technological and Economic Development of Economy

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The debate on the presence of economic benefits in the European Union (EU) is not over. The study responds unequivocally to this question, with the intensity of economic development in the countries that joined the European Union in 2004 and beyond twice as high as that of the countries that joined it this year, i.e. the EU’s old ones compared to the new ones; smoothness – 1.1 times and dynamics – 1.6 times. Another important trend for further development is that, as the level of economic development increases, its smoothness is diminishing. In respect of the context of the EP of all EU Members, it turned out that the higher intensity of enlargement was characterised by higher economic levels, with similar homogeneity and almost identical values for the dynamic indicator. The introduction to the article presents the context of the studies, i.e. two groups of EU Community countries are formed according to their level of economic development and the year of their accession to the Community, as well as a survey scheme. The literature review reveals the methods used to analyse the convergence of economic development in these countries, as members of the Community. The research methodology introduces the indicator of economic development of countries and provides a methodology for assessing its dynamics. The empirical part assesses the dynamics of economic development of both groups of countries and identifies trends in terms of convergence. The discussion section summarises the consolidation and destabilising factors in the EU and the importance of the study carried out in this context. The conclusions present the main results of the studies and outline their further directions. The results of the study can be used both in the EU and for the purpose-oriented decisions of its members on further economic development.

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Structural Funds and Regional Economic Growth: the Greek experience

Cited by 5 publications

References 16 publications

European Structural and Investment Funds (ESIFs) and Regional Development across the European Union (EU)

European Structural and Investment Funds (ESIFs) and Regional Development across the European Union (EU)

Application of Successful EU Funds Absorption Models to Sustainable Regional Development

Assessment of Economic Convergence Among Countries in the European Union

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