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Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States
Author:
Robert Sierhej
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and
Mr. Christoph B. Rosenberg
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Series:
IMF Working Papers
Volume/Issue:
Volume 2007: Issue 077
Language:
English
Publication Date:
01 Apr 2007
DOI:
https://doi.org/10.5089/9781451866414.001
ISBN:
9781451866414
ISSN:
1018-5941
Pages:
44
Keywords:
WP; EU fund; fund; government
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Drawing on a dataset suitable for macroeconomic analysis, the paper provides an overview of the magnitudes, purpose and institutional implications of EU-related transfers to and from the new member states. A rough analysis of accounting identities and first-round effects shows that EU funds may have led to a fiscal drag of up to 1 percent of GDP and an additional aggregate demand stimulus of up to 1 percent of GDP during the first years of membership. These effects are likely to increase as additional funding become available under the new financial perspective, pointing to the need to consider policy tradeoffs.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2007: Issue 077