THE CONTRIBUTION OF COHESION POLICY TO THE DEVELOPMENT AND CONVERGENCE OF THE REGIONS OF THE EUROPEAN UNION

Panagiotis KOUDOUMAKIS

Dr. Civil Engineer

Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

pkoudoum@civil.duth.gr

George BOTZORIS

Associate Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

gbotzori@civil.duth.gr

Angelos PROTOPAPAS

Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

aproto@civil.duth.gr

Abstract

The Cohesion Policy’s (CP) contribution to the development and convergence of EU regions is examined by utilizing the most complete historical data about CP payments regionally. Through the implementation of the neoclassical econometric model, the positive contribution, with a room of improvement, of CP to development and convergence of EU regions is substantiated. Moreover, the contribution of the secondary sector is emerging as the most critical. It is argued that the provision of reliable data of the implementation of CP contributes decisively towards reducing the complexity and heterogeneity of results. Also increases their potential to be utilized in assessment and design programs.

Keywords: Cohesion Policy of the European Union, Regional development and convergence, Econometric model, Data reliability and representativeness, Secondary sector

JEL classification: R11, R58, R15

 pp. 277-290

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