Abstract
The paper provides the evaluation of the efficiency of financing the regional policy promotion activities from the EU structural funds and efficiency of funding of national and regional smart specialization strategies’ priorities in 2014-2020. It determines 6 key smart specialization domains among 216 RIS3 of national and regional (NUTS 2) levels: agriculture, food, and biotechnologies; green technologies, energy; transport, mobility, logistics; ICT; life sciences, biotechnologies, pharmacy, biotechnologies; material sciences and intellectual production. Four hypotheses on the close relationship between the investment volumes, directions, and results of their use are empirically verified. The results of the applied correlation analysis show the close relationship between the volumes of funding of the smart-specialization activities and the paces of agricultural output per capita with three clusters of countries by the distribution of funding by the strategic priorities. Regarding the other smart specialization priorities – “environmental technologies, energy efficiency” and “transport, mobility, logistics”, the dependence between the funding from the European Structural and Investment Funds and reducing CO2 emissions from new vehicles is proven. Support of strategic priorities “material science” and “smart production” by European Structural and Investment Funds in 2014-2020 is characterized by growing GRP volumes per capita with clear differences between the developed and average-level EU countries. The reasonability of supporting the implementation of the smart-priority “medicine, pharmacy, healthcare” in most RIS3 of EU countries and the substantial correlation of financial support from EU funds with the paces of state expenses on healthcare increase is substantiated. The conclusions about the efficiency of selected priorities, their high convergence ability, and the capacity to form transnational cooperation are made.
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