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Structural funds, EU enlargement, and the redistribution of FDI in Europe |
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| Authors: | Fritz Breuss Peter Egger Michael Pfaffermayr |
| Affiliation: | 1. Europe Institute at the Vienna University of Economics and Business Administration, Althanstrasse 39-45, 1090, Vienna, Austria 6. Austrian Institute of Economic Research, Arsenal, Objekt 20, P.O. Box 91, 1030, Vienna, Austria 2. ETH Zürich, WEH E6, Weinbergstrasse 35, 8092, Zürich, Switzerland 3. Centre of Economic Policy Research, 53-56 Great Sutton Street, London, EC1V 0DG, UK 4. CESifo and ifo, Poschingerstrasse 5, 81679, Munich, Germany 5. Department of Economic Theory, Economic Policy and Economic History, University of Innsbruck, Universtaetsstrasse 15, 6020, Innsbruck, Austria |
| Abstract: | The EU enlargements of 2004 led to a redirection of Structural and Cohesion Funds expenditures from EU-15 to new EU members as did those of 2007. This redistribution of funds makes the accession countries even more attractive as a location of FDI. Using a logistic regressions approach, this paper shows that a reallocation of structural funds as outlined in Agenda (For a stronger and wider union, COM(97) 2000 final, 2000) and successive revisions of the financial perspectives for an enlarged union leads to a redistribution of FDI by approximately 4−8 percentage points from the current EU members to the accession countries (2004 scenario) and 7−10 percentage points (2007 scenario), respectively. |
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