From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe
This study challenges the traditional reliance on GDP as the sole indicator of the success of the EU’s cohesion policy, aligning with the evolving academic discourse that calls for a broader spectrum of metrics incorporating social factors. The research aims to assess the impact of cohesion on econo...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2024-01-01
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| Series: | Economies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7099/12/2/28 |
| _version_ | 1797298427231469568 |
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| author | Adriana AnaMaria Davidescu Tamara Maria Nae Margareta-Stela Florescu |
| author_facet | Adriana AnaMaria Davidescu Tamara Maria Nae Margareta-Stela Florescu |
| author_sort | Adriana AnaMaria Davidescu |
| collection | DOAJ |
| description | This study challenges the traditional reliance on GDP as the sole indicator of the success of the EU’s cohesion policy, aligning with the evolving academic discourse that calls for a broader spectrum of metrics incorporating social factors. The research aims to assess the impact of cohesion on economic performance and social progress at the regional level in Central and Eastern European countries, using regression analysis on panel data. Inspired by the call to move beyond GDP-focused assessments, this research re-evaluates cohesion policy within an expanded framework that prioritizes economic and social dimensions. Specifically, it addresses the escalating concerns of income disparity and poverty in Central and Eastern European nations. Utilizing panel data regression models, this study scrutinizes data from 2007 to 2018, covering two recent programming periods, to offer a comprehensive, multifaceted analysis of the impact of cohesion policy. It underscores the policy’s dual role in spurring economic growth and fostering social progress, particularly in mitigating income inequality and reducing poverty. The findings reveal that cohesion policies positively affect both economic performance and social progress, with notable impacts on narrowing the income gap and alleviating poverty in these regions. However, the economic benefits for poverty reduction materialize over a prolonged period, reflecting the gradual nature of policy impact and the time needed for investments to materialize. The study emphasizes the need for a long-term strategic vision in implementing cohesion policies. This includes enhanced data collection, a deeper focus on the social ramifications of policies, streamlined policy processes, capacity building, institutional strengthening, and prioritizing equitable opportunities to bridge income gaps effectively. This comprehensive approach aims to maximize the dual benefits of cohesion policies, promoting balanced economic and social progress across Central and Eastern Europe. |
| first_indexed | 2024-03-07T22:35:41Z |
| format | Article |
| id | doaj.art-9aab6e11c1c4416a9280334d460bafc6 |
| institution | Directory Open Access Journal |
| issn | 2227-7099 |
| language | English |
| last_indexed | 2024-03-07T22:35:41Z |
| publishDate | 2024-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Economies |
| spelling | doaj.art-9aab6e11c1c4416a9280334d460bafc62024-02-23T15:14:15ZengMDPI AGEconomies2227-70992024-01-011222810.3390/economies12020028From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern EuropeAdriana AnaMaria Davidescu0Tamara Maria Nae1Margareta-Stela Florescu2Department of Statistics and Econometrics, The Bucharest University of Economic Studies, 010552 Bucharest, RomaniaDepartment of Economics and Economic Policy, Bucharest University of Economic Studies, 010552 Bucharest, RomaniaDepartment of Administration and Public Management, Bucharest University of Economic Studies, 010374 Bucharest, RomaniaThis study challenges the traditional reliance on GDP as the sole indicator of the success of the EU’s cohesion policy, aligning with the evolving academic discourse that calls for a broader spectrum of metrics incorporating social factors. The research aims to assess the impact of cohesion on economic performance and social progress at the regional level in Central and Eastern European countries, using regression analysis on panel data. Inspired by the call to move beyond GDP-focused assessments, this research re-evaluates cohesion policy within an expanded framework that prioritizes economic and social dimensions. Specifically, it addresses the escalating concerns of income disparity and poverty in Central and Eastern European nations. Utilizing panel data regression models, this study scrutinizes data from 2007 to 2018, covering two recent programming periods, to offer a comprehensive, multifaceted analysis of the impact of cohesion policy. It underscores the policy’s dual role in spurring economic growth and fostering social progress, particularly in mitigating income inequality and reducing poverty. The findings reveal that cohesion policies positively affect both economic performance and social progress, with notable impacts on narrowing the income gap and alleviating poverty in these regions. However, the economic benefits for poverty reduction materialize over a prolonged period, reflecting the gradual nature of policy impact and the time needed for investments to materialize. The study emphasizes the need for a long-term strategic vision in implementing cohesion policies. This includes enhanced data collection, a deeper focus on the social ramifications of policies, streamlined policy processes, capacity building, institutional strengthening, and prioritizing equitable opportunities to bridge income gaps effectively. This comprehensive approach aims to maximize the dual benefits of cohesion policies, promoting balanced economic and social progress across Central and Eastern Europe.https://www.mdpi.com/2227-7099/12/2/28cohesion policyeconomic developmentsocial progressregional analysisbeyond the GDP |
| spellingShingle | Adriana AnaMaria Davidescu Tamara Maria Nae Margareta-Stela Florescu From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe Economies cohesion policy economic development social progress regional analysis beyond the GDP |
| title | From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe |
| title_full | From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe |
| title_fullStr | From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe |
| title_full_unstemmed | From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe |
| title_short | From Policy to Impact: Advancing Economic Development and Tackling Social Inequities in Central and Eastern Europe |
| title_sort | from policy to impact advancing economic development and tackling social inequities in central and eastern europe |
| topic | cohesion policy economic development social progress regional analysis beyond the GDP |
| url | https://www.mdpi.com/2227-7099/12/2/28 |
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