Financing Poorer Countries Leads them to Fall Behind?
(Pages 222-226)Jorge Sá1,* and Ana Lúcia Luís2
1Senior Research at ISG, Business School, CIGEST.
2Professor at ISG Business School, CIGEST.
DOI: https://doi.org/10.55365/1923.x2024.22.24
Abstract:
The regional policy of the European Union (EU), which is frequently referred as Cohesion Policy, aims to
reduce disparities between countries. Although all the EU regions benefit from the funds dedicated to regional development, during the 1980s and 1990s, the main beneficiaries of the funds were Spain, Greece, Portugal and Ireland.
In the last quarter century, these four European countries, Spain, Greece, Portugal, and Ireland received almost fifty billion euros in cohesion funds to increase their economic competitiveness and serve as a stimulus for economic growth. However, not only has this objective failed, but also transparency and economic freedom have declined in these countries. In fact, the countries that benefited (in relative terms) most from cohesion funds, grew less in economic terms.
Keywords:
Southern Europe; Competitiveness; European funds; Transparency; Economic Freedom; Economic Growth.
JEL:
F00 General; F02 International Economic Order and Integration.
How to Cite:
Jorge Sá and Ana Lúcia Luís. Financing Poorer Countries Leads them to Fall Behind? . [ref]: vol.22.2024. available at: https://refpress.org/ref-vol22-a24/
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