METHODS FOR ASSESSING THE IMPACT OF STRUCTURAL INSTRUMENTS ON THE SUSTAINABLE DEVELOPMENT
METHODS FOR ASSESSING THE IMPACT OF STRUCTURAL INSTRUMENTS ON THE SUSTAINABLE DEVELOPMENT

Summary/Abstract: This paper aims to achieve a description of the macroeconomic models of assessment (Herom, Quest) by using a mix of techniques for modeling the economic development under the impact of EU funding. The Herom model is the Romanian version of the Hermin model and it was created to review the long term impact of the Cohesion Policy, policy sustained by public investment. This model is based on the "new" growth theory and on endogenous growth analysis. The first models of this type have been initiated on the premise that technical progress is exogenously determined and they are not situated under the control of economic policy. For this reason, it was difficult to analyze the long-term impact of EU Cohesion Policy in terms of assuming the productivity growth hypothesis.

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