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The paper attempts to recover empirical evidence related to the European Structural and Investment Funds (ESIF) to promote growth for the management of the Recovery & Resilience Facility (RRF). We analyse the impact of the EU Cohesion Policy on regional development over the period 1986-2018, using dynamic panel data models. In doing so, we use a neoclassical Solow growth model, extending the current literature in at least three ways. First, we make use of a new dataset, which contains highly detailed data on regional commitments and payments of Structural Funds; secondly, we address the endogeneity via a difference GMM estimator; finally, we control for the spatial interdependence among regions via a Spatial Durbin model. We find that the Cohesion Policy fosters regional growth both in the short and long run, regardless of the Objective considered. The role of the business cycle in the speed of regional convergence is quantified. The funds' effectiveness is hindered during the crisis, especially in the least developed regions, partly due to lower absorptive rates. Furthermore, human capital and quality of government are crucial growth determinants necessary for improving the performance of the Structural Funds. Finally, we discuss if the combination of ESIF & RRF funds will be appropriate for accelerating the post-pandemic recovery versus the financial recession recovery.

The objective is to empirically assess the effects of the European Structural and Investment Funds (ESIF) on the regional convergence of income catching-up of the Objective 1 regions in Spain. The principal added value of the paper is that by using realized investment data, it allows comparison of the results in terms of real regional convergence of the two budgetary periods covering different phases of the business cycle and two ESIF operational programs. The panel data model's results allow recommendations to assess economic and financial adjustments in the UE and the use of the ESIF. Changes in economic cycles seem to have a significant impact on the ability of funds to contribute to the growth of the regional economy. Possible use in the Eurozone of the future Crisis Fund of the multiannual budget 2021-27. The level of indebtedness in the region has a definite adverse effect on the effectiveness of European projects. Additionally, we identify an apparent spillover effect from the funds towards other border regions on those that are formally receiving. Therefore, it is essential to be able to adapt the funds according to the phase of the business cycle. Moreover, during the downturns, to ensure their effectiveness may not be co-finance by regions.

Panel data models are estimated to highlight the income-gap as a driver of individual de-cisions to migrate. This procedure allows to testing the hypothesis that the per capita income-gap of rural spaces along with the employment rate and aging explain the fall in the population of rural villages and the concentration of population in functional urban areas (FUA). First, using panel data models, the links between rural depopulation and the income-gap are estimated with data at the municipal level. Second, the effects of the European Structural and Investment Funds (ESIF) on the convergence of income levels for rural inhabitants are evaluat

This paper provides a farm sector comparison of relative levels of capital input for seventeen OECD countries for the period 1973-2011. The starting point for construction of a measure of capital input is the measurement of capital stock. Estimates of depreciable capital are derived by representing capital stock at each point of time as a weighted sum of past investments. The weights correspond to the relative efficiencies of capital goods of different ages, so that the weighted components of capital stock have the same efficiency. The capital stocks of land are measured as implicit quantities derived from balance sheet data. We convert estimates of capital stock into estimates of capital service flows by means of capital rental prices. Implicit rental prices for each asset are based on the correspondence between the purchase price of the asset and the discounted value of future service flows derived from that asset. Finally, comparisons of levels of capital input among countries require data on relative prices of capital input. We obtain relative price levels for capital input via relative investment goods prices, taking into account the flow of capital input per unit of capital stock in each country.

This paper examines the relation between the business cycle and convergence in levels of total factor productivity (TFP) across states. First, we find evidence of convergence in TFP levels across the different phases of the business cycle, but the speed of convergence was much greater during periods of contraction in economic activity than during periods of expansion. Second, we find that technology embodied in capital was an important source of productivity growth in agriculture. As with the rate of catch-up, the embodiment effect was much stronger during low economic activity phases of the business cycle.

This paper focuses on the changes in farm efficiency as a tool for policy analysis. The methodology is applied to the introduction of direct payments (DP) and the price support reduction affecting large samples of individual farms with joint animal and vegetal production (comparing before and after CAP’92). The case study is justified for their relevance for Mediterranean forest and grazing land preservation in Spain. Using a non parametric method (DEA) we do not specify the production function of the farms, and can explain the impact of the direct payments on environmental adaptation and efficiency for animal orientated farms before and after the (DP) introduction in 1992 (CAP’92 reform). Even though the direct payments increased sharply after the CAP’92 reform, in general, the new direct payment system turns out to be insufficient to offset the fact that less environmentally friendly farms remain much more “efficient,” i.e. profitable for the farmer. The paper also studies the relationship of efficiency with other policy relevant factors such as economic size. The results show that after the CAP’92 reform, the subsidy schedule was even more correlated with farm size than before, which we find to be counterproductive. This research was supported by FUNCAS, the Spanish Ministry of Agriculture and the “Dirección General de Investigación del Ministerio de Ciencia y Tecnología”, project number SEJ2005-08269/ECON and SEJ2004-04583/ECON.

International audience; Les auteurs présentent un modèle théorique sur les comparaisons internationales de productivités. Les productivités et le niveau des prix des outputs et des inputs des agricultures sont ensuite comparés entre les Etas-Unis et 11 pays de l’Union européenne, entre 1973 et 2002. En moyenne, les prix agricoles américains sont inférieurs de près de 30% aux prix européens, grâce à une meilleure productivité mais aussi en raison de prix plus bas des consommations intermédiaires et de la terre. Cette compétitivité de l’agriculture américaine se traduit par une meilleure rémunération du travail.

In this paper, we study the evolution of agricultural product specialisation at farm and county level from 1979 to 1997 in Spain, thus covering all the stages of the gradual implementation of the Common Agricultural Policy. We use a multiproduct version of Theil and Finizza's index of segregation that allows us to decompose farm product specialisation into county specialisation with respect to the national level, i.e., the usual measure of regional specialisation, and farm specialisation within counties. Our results confirm the importance of increasing regional specialisation but also highlight that trends of farm specialisation within counties have varied across large agricultural areas. In particular, regions more specialised in export-oriented products seem to have speeded regional specialisation.

Este artículo discute los resultados de medir la Productividad Total de los Factores (PTF) de las empresas agrarias europeas con distintos índices. El enfoque que utilizamos está basado en el cálculo de índices de Productividad Total de los Factores, lo que nos permite obtener formas flexibles para captar la tecnología subyacente y un procedimiento de cálculo apropiado para usar datos contables de las empresas. Con el fin de comparar la evolución en el tiempo de la productividad de las explotaciones agrarias utilizamos tres indicadores de PTF: un índice Translog (que también posibilita efectuar una comparación inter-espacial de los doce países europeos), un índice Fisher (como un medida más adecuada de la productividad a largo plazo) y un índice Hulten (que recoge las implicaciones del factor cuasi-fijo, el trabajo familiar, en el equilibrio a corto y largo plazo de las empresas y sus consecuencias sobre la trayectoria de la productividad). Los comentarios finales ofrecen algunas explicaciones, de acuerdo con la teoría disponible, útiles para valorar las consecuencias de los cambios en la tecnología de las explotaciones y el uso del factor cuasi-fijo.

This paper ail11s at l11easuring the total factor productivity (TFP) of the European agricultural finns. With a Translog index, an interspatial comparison of tIle twelve European countries and intertel11poral productivity variations are computed to l11easure the different rate of TFP (Translog, Fisher and Hulten indexes) in the European firms. The approach that we use is to calculate non parametric indexex of total factor productivity which allow flexible l110delling of underlying technology and easy calculation from the account data of the firms. The implication of the quasi-fix family work factor for the short mn and long mn equilibrium of the firms differ between countries and has consequences on the TFP path. The final cornments offer some explanation according with theory available.

Publicado

El artículo estudia los efectos de la reforma de la PAC (Política Agraria Común) en la convergencia real de Espat'la en la Unión Europea desde la integración española en la CE (Comunidad Europea) hasta el presente. Se plantean dos preguntas básicas: Primera: ¿Se han aproximado los precios agrarios españoles a los niveles europeos?, y segunda: ¿El diferencial de renta agraria se ha reducido? Los resultados del trabajo muestran que la agricultura se ha vuelto muy sensible a la política macroeconómica, creciendo la renta real cuando la peseta se depreció a raíz de la tormenta monetaria y más recientemente cuando la inflación se redujo. Publicado

Discutir los argumentos de la teoría económica que sustentan la intervención en los mercados agrarios, mediante politicas de precios o ayudas directas, es el primer objetivo de este papel. Las proposiciones a las que llega la teoría económica sobre la política de precios y sus críticas al diseño de la Política Agraria Común (PAC) de la Unión Europea son utilizadas para valorar el actual proceso de reforma de la PAC, en el marco de liberalización de los intercambios mundiales de materias primas propiciada por el Acuerdo de Marrakech. A continuación se pasa a contraponer las declaraciones de principio con los indicadores de grado protección. Finalmente se observan las combinaciones de las medidas vía precios y vía ayudas directas para sostener las rentas agrarias sin imcumplir el acuerdo alcanzado en el seno del GATT, Y se alerta sobre las posibles desviaciones del diseño original de PAC reformada para lograr consensos entre los doce países de la Unión Europea.

This working paper presents a cost-benefit analysis of the reform of the Common Aqricultural policy (CAP) considering both its effects on farmers in the European Community (EC) and on farmers in third countries. The new questions raised by the Uruguay round of the GATT (General Aqreement on Tariffs and Tax) and the start up of the sinqle Market in Europe are considered in order to examine the possible effects on agricultural income with special reference to family farms in the south of Europe. In the case of Spain, data are presented for possible effects of restructuring work occasioned by the reform.

Discutir cuál puede ser el futuro de la explotación familiar agraria en el marco cambiante de la P.A.C. constituye el objetivo de este artículo. Comienza haciendo algunas consideraciones sobre el propio concepto de explotación familiar desde la perspectiva económica y sobre las causas que impulsan el actual proceso de reforma de la P .A.C. Se exponen cuales son los elementos que impulsan el cambio para pasar a continuación a analizar las posibles consecuencias del mismo en términos de grado de protección de la actividad frente al exterior, evolución de la productividad de las explotaciones y posición frente a la demanda. Por último, se abordan los efectos que las caídas de rentabilidad de las explotaciones menores tienen en la dinámica de reasignación de recursos productivos en las economías europeas con especial referencia al empleo. Publicado

The interest in quantifying available capital and how it changes with requirements for economic growth. The modernization process in agriculture entailed the substitution of labor-intensive techniques, animal power and high reemployment levels by capital-intensive methods mechanical power and an increasing use of industrial inputs. The problems connected with the capitallzation of agriculture have therefore become very Important.