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The impact of Objective 1 funds on regional growth convergence in the EU: a panel-data approach

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Esposti, Roberto; Bussoletti, Stefania

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Abstract This article investigates the impact of Objective 1 structural funds expenditure on EU regions by estimating an augmented conditional convergence econometric model. According to this model, growth convergence is influenced by the policy treatment, which affects the regional initial investment rate by interacting with other regional structural variables and eventually influencing its steady state level. The convergence model is specified in a dynamic panel-data form and estimated using a database of 206 EU15 regions observed from 1989 to 2000. A GMM estimation is applied to obtain consistent estimates of both parameter b and impact of the Objective 1 policies.
Classification European Politics; Economic Policy; Area Development Planning, Regional Research
Free Keywords GMM Estimation; Objective 1; Panel-data; Regional Convergence; Structural Funds
Document language English
Publication Year 2008
Page/Pages p. 159-173
Journal Regional Studies, 42 (2008) 2
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)