Impact of ESIF on Economic Growth of Regions of the CzechRepublic–Panel Data Regression Analysis


JAN Žáček HRŮZA Filip VOLČÍK Stanislav

Year of publication 2018
Type Article in Proceedings
Conference Proceedings of the 4th International Conference on European Intergration 2018
Keywords economic convergence; economic growth; ESIF; regression analysis
Description This research paper aims to estimate the impact of the European Structural and Investment Funds (ESIF) on economic growth of the Czech Republic during the period 2004-2015 using panel data regression techniques. ESIF are instruments of European economic and social cohesion policies. The primary goal of these policies is to foster economic growth and convergence among the member states of the European Union through the reallocation of financial resources from ESIF. During 2004-2015, the Czech Republic was involved in three programming periods in which projects of an approximate value of 939 billion CZK were supported and implemented. In that period, the contribution from ESIF amounted to approximately 757 billion CZK while 182 billion CZK were allocated from national resources. Besides the standard panel data econometric techniques like pooled OLS or FE, a spatial panel data econometric method is employed to verify the robustness of the results. Evidence of this research shows a positive relationship between ESIF and economic growth of NUTS3 regions of the Czech Republic. Furthermore, the results also indicate economic convergence achieved among NUTS3 regions of the Czech Republic.

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