Julia Bachtrögler, Ugo Fratesi (p), Giovanni Perucca

Maria Karanika

Aim of the paper is to look at what local characteristics determine the different impacts of cohesion policy in different regions. In this sense, the paper extends the new burgeoning literature investigating under what conditions regional policy is more effective.
In particular, in this paper we test whether there are increasing or decreasing returns on the presence of territorial capital assets.
At the same time, we test whether there are interactions between regional growth assets, and whether a balanced territorial structure enhances the effect of policies.
Additionally, in the framework of the paper it is possible to test whether the policy investments in territorial assets in the previous programming periods are able to enhance the policy impact in the following one, with a synergic effect.

Methodologically, in the first step we apply propensity score matching to obtain, for the programming period 2007-13, the impact of cohesion policy support on manufacturing firms on a large sample of European Nuts2 regions. This will be the dependent variable for the second step in which, using the techniques of meta-analysis, the paper will explain why some regions get a higher and others a lower policy impact.

Conceptually, the framework of territorial capital will be used, so that the determinants of policy effectiveness will come from territorial capital database at regional level, investigated in a systemic way.
Additionally, the specific characteristics of the policy deployment will also be investigated, individually and in combination with the presence of territorial capital.

Lewis Dijkstra (p)

Ugo Fratesi

This presentation will illustrate how the geographical and funding logic of Cohesion Policy has evolved since its inception in 1988. Drawing on the Cohesion reports, the presentation will highlight how Cohesion Policy has changed from a policy created to compensate the negative impacts of the Single Market to the single biggest EU investment policy focussed on reducing disparities and boosting investment in EU priorities in all regions. The tension between the different narratives of the policy remain. For example, the current debate has emphasised the negative impacts of globalisation in some regions. The presentation will conclude by discussing the proposals for the period post 2020, which will have been published only a few weeks prior to this conference. In addition, the presentation will describe the various data sources on Cohesion Policy funding and expenditure to facilitate more research on the policy.

Maria Karanika (p), Dimitris Kallioras

Lewis Dijkstra

The European Union, during these crucial times, needs Cohesion Policy and Cohesion policy needs to remain a priority for all regions of the EU. In 1986 the Single European Act talked about an economic and social cohesion and the Lisbon Treaty in 2009 added another facet to cohesion, referring to "economic, social and territorial cohesion". As the main EU’s main investment policy, Cohesion Policy targets all regions and cities in the European Union in order to support economic growth, job creation, business competitiveness, sustainable development and improve citizens’ quality of life. Cohesion policy is one of the most important and successful tools in fostering economic development as well as the main investment policy of the EU. The last Seventh (7th) Report on Economic, Social and Territorial cohesion showed how much cohesion policy is vital to Europe, its regions and its cities.
Since the start of the boom era, the territorial dimension became a broader and strong concept for regional policy and the Lisbon Treaty and the EU's new high-level strategy (Europe 2020) introduce a third dimension: territorial cohesion. Territorial cohesion established a set of principles for harmonious, balanced, efficient, sustainable and territorial development and reinforced the principle of solidarity to promote convergence between the economies of better‐off territories and those whose development was lagging behind. As we move forward into the post-2020 financial period characterized by doubts about how cohesive or divided Europe is, we are wondering if territorial cohesion has succeed to satisfy the main objectives of Lisbon Treaty and therefore the Strategy "Europe 2020". The fuzzy, elusive and ambiguous notion of Territorial Cohesion is able to provide a genuine place-based approach in order to contribute effectively in reducing regional disparities?
Although the average economic recovery seems to have taken root, GDP and employment have reached all-time highs and regional disparities are shrinking, looking at the situation more closely, the all situation is not well. European Union is at a crossroads and needs to decide how it wants to tackle the challenges of today and how to move ahead. At this point it must be decided whether the policy of territorial cohesion will be at least tolerated or become an essential factor in cohesion policy that will guarantee the role, which EU deserves, in the increasingly multipolar world.