Rationale and Design of EU Cohesion Policies in a Period of Crisis
The aim of the paper is to reflect on the justifications and design of cohesion policies in a period of deep economic recession. In particular, the paper tackles two important topics. The first topic deals with the justification for structural policies like cohesion policies in a period of economic downturn, since they look less urgent and appropriate than short term demand policies. In this case, cohesion policies are called to rebalance the effects that the ongoing crisis has on the convergence trends of the last two decades. The second topic relates to the most appropriate design that cohesion policies should have. The message that the paper provides from a conceptual point of view, corroborated by empirical results, is that the winning strategy is neither to focus on champions, calling for competitiveness, nor on lagging areas, in favor of cohesion; policies targeted to each regions’ needs are the right policies, able to enlarge and embrace all possible excellences. This strategy demonstrates that the traditional trade-off between efficiency and equity goals may be overcome.
Carmelina Bevilacqua, Francesco Calabrò and Lucia Della Spina
R. Camagni and R. Capello, "Rationale and Design of EU Cohesion Policies in a Period of Crisis", Advanced Engineering Forum, Vol. 11, pp. 11-19, 2014