Abstract
ABSTRACT Whilst the analysis of the impact of Cohesion Policy funds is well documented, little is known about the short-term consequences of Cohesion Policy during economic crises and its implications for regional resilience. To study these issues, we assemble novel, panel time-series data on Cohesion Policy covering almost four programming periods and different shocks in the European Union. Using heterogeneous coefficients panel models, we find a general positive impact of Cohesion Policy on regional resilience, although with region- and crisis-specific patterns during different shocks. Our results also suggest the presence of regional variation regarding regional labour market resilience over the past three decades.
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