FINANČNÍ NÁSTROJE A JEJICH PÁKOVÝ EFEKT PŘI NAPLŇOVÁNÍ CÍLŮ KOHEZNÍ POLITIKY
FINANCIAL INSTRUMENTS AND THEIR LEVERAGE EFFECT IN ACHIEVING COHESION POLICY OBJECTIVES

Author(s): Jiří Kraft, Ivana Kraftová
Subject(s): Politics, Economic policy
Published by: Masarykova univerzita nakladatelství
Keywords: EU cohesion policy; financial instruments; deadweight loss; leverage effect;
Summary/Abstract: The aim of this paper is to assess the position of EU member countries in the 2014-2020 programming period in terms of the use of financial instruments and to estimate the leverage effect in order to determine the degree of significance of this option for mobilising additional financial resources to fulfil cohesion policy objectives. To achieve the research objective, measures of variability and calculation of the force of financial leverage using available data are used. The results show that the variability of both the contribution to financial instruments from the ESIF and the variability of the average contribution per financial instrument are relatively high for EU member countries. The estimation of the force of financial leverage is simplified with respect to the available data, but at the same time raises legitimate questions as well as data availability requirements for further research evaluations in terms of data transparency.

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