Original scientific paper
https://doi.org/10.1080/1331677X.2023.2188407
Convergence and economic integration of CEECs through EU regional policy system
Zvonimir Savić
Nataša Drvenkar
Saša Drezgić
Abstract
In order to assess the effectiveness of individual management systems
in the analysed EU countries (Croatia, Poland, Slovakia,
Latvia, Lithuania, Estonia, Malta, Cyprus, Slovenia, Hungary), an
econometric analysis of the interdependence between the quality
of the institutional and regulatory framework and the absorption
of EU funds and economic growth was conducted. Conceptually,
the econometric analysis aims to identify two levels of interdependence
between institutional and regulatory variables on the
one hand and dependent variables on the other: (1) the effect of
the quality of the institutional and regulatory environment on the
absorption of EU funds; (2) the effect of the quality of the institutional
and regulatory environment on economic growth. The
results of the analysis confirm that EU funds have led to increased
economic growth in EU countries which provides basis for economic
convergence. However, the allocation of funds alone did
not necessarily increase the quality of the institutional framework
and competitiveness of the analysed countries. Thus, the paper
confirms the importance of improvement of the institutional and
regulatory framework of particular grant recipient country, as this
not only increases the absorption of EU funds, but also improves
the economic growth prospects.
Keywords
Convergence; economic integration; EU cohesion policy; institutional framework
Hrčak ID:
314062
URI
Publication date:
17.5.2023.
Visits: 458 *