Economic impact of the European Funds in Extremadura during the period 2007-2013
Although the evaluation of European Union regional policy is necessary to improve the effectiveness of the operational programmes, it is not usual to find studies comparing the efficiency of two programming periods for the case of a particular region. This could be explained by the fact that, at regional level, the study of the efficiency of the European funds during two different programming periods faces many different problems; for example, it entails the consideration of both adequate and homogeneous data, and similar methodology. The goal of this paper is twofold. The first goal is to estimate the economic impact of the European Union structural and cohesion funds received by Extremadura, a Spanish convergence objective NUTS II region, during the programming period 2007-2013. To this end, it is provided a multipliers analysis based on a Social Accounting Matrix (SAM) of Extremadura for the year 2000. Secondly, the paper will compare the returns obtained in terms of output and employment by the European funds received in Extremadura during the periods 2000-2006 and 2007-2013. Our results allow quantifying the effects of the EU regional policy, showing and comparing the efficiency for these two programming periods.
Modelling European Regional Policy 2007–2013: Applied General Equilibrium Analysis of the Economic Impact on the Madrid Region
The main purpose of this study was to present an applied general equilibrium model to the economy of the Madrid region. The model developed is considered a neoclassical version of the Walrasian equilibrium, modelling production sectors on perfect competition, full use of production factors and the clearing of all markets of goods. The model thus enables the second objective of the study: to estimate the impact of the 2007–2013 Structural Funds received on the economy of the Madrid region. The effects resulting from the injection of the funds are quantified by simulations performed using the developed model. This analysis of the quantification of effects is extremely important, as the priority objectives of the European Regional Policy have changed with respect to the previous period. In the current operational programme, the Madrid region comes under the regional competitiveness objective, which focuses on the priorities of innovation, research, the information society and business development. The sectors that have traditionally benefited, mainly infrastructure, therefore give way to others and the injection of funds into the Madrid economy is to be through other areas. In addition, there has been a reduction of the European aid received by our Region, as compared with previous Programmes.
Una matriz de contabilidad social para Asturias
A Social Accounting Matrix is an integrated system of accounts that presents in a double-entry table all the transactions made in an economy among pro- ductive sectors, production factors, institutional sectors and the rest of the world. In comparison with an Input-Output Table, it offers a greater deal of information and shows completely the circular process of income, captivating more precisely the ef- fects of exogenous changes. One of the main profits of a Social Accounting Matrix is to serve as a database for the development and application of a computable general equilibrium model. This is, in fact, the aim pursued with the elaboration of the Social Accounting Matrix for the Asturian economy presented here. This Matrix has been constructed with data from