Reform of the structural funds after 1999

In efforts to promote cohesion in the EU, the structural funds are an important instrument. The current mandate for the funds comes to an end in 1999, and it mill have to be renegotiated shortly against a backdrop of the start of EMU and probable enlargement of the EU. This paper reviews the principles governing the structural funds and looks at the problems they face in practice. It then considers possible reforms to meet the obligations on, and expectations of, the EU in the years to come, and what these would imply for different regions as well as the potential new member states.     

Sovereign wealth funds: dangers and opportunities

Soaring oil prices since the early 2000s have led to a historic transformation of wealth from consuming regions to major oil exporters. In recent years many of these exporters have set up oil funds to utilize their massive and growing oil revenues. These funds are divided into two categories—stabilizing and saving. Their large investments in western markets have raised concerns that they might be driven by political and strategic interests rather than commercial ones. This article examines oil funds in the Persian Gulf, Norway and Russia. It discusses US and European proposals to regulate oil funds' investments. The article examines the International Monetary Fund's efforts to forge a consensus on a ‘code of conduct’ that would guide the relationship between oil funds and the recipient markets. The analysis argues against excessive regulation.     

Sovereign wealth funds and national security: the Great Tradeoff

One of the most striking financial developments in recent years is the emergence of sovereign wealth funds (SWFs)—large publicly owned investment portfolios, which are growing rapidly in both number and size. In a global environment already roiled by a prolonged credit crisis, SWFs raise tricky and potentially controversial new questions for international financial regulation. One issue of concern to many in host countries is the possibility that some SWFs might be used for overt or tacit political purposes, posing a challenge for global monetary governance: a Great Tradeoff between the world community's collective interest in sustaining the openness of capital markets and the legitimate national security concerns of individual host countries. Can some balance between the two be found that will be both stable and acceptable to all concerned? Individually as well as collectively, recipient countries have begun to address the regulatory challenge directly. To date, however, accomplishments have been slight and have failed to stem a noticeable drift towards financial protectionism. A review of some recent proposals suggests that there is no foolproof solution to the Great Tradeoff. But the potential for controversy could be significantly reduced by a negotiated agreement among host governments addressing three key issues: definitions, risk assessment and dispute resolution. The most logical venue for such an exercise would be the OECD, building on its already extensive experience with international investment issues.     

Spatial and sectoral differentiation of support to innovative companies from EU funds in Czechia

This paper aims to introduce a case study of Czechia in distribution of the EU funds and their spatial patterns. EU funds receive plenty attention from both European society and the scientific community. However, there is a lack of detailed evaluations of spatial and sectoral differentiation, which might bring a better understanding to the whole EU funds system. This paper attempts to fill this gap with a method of geographical differentiation analysis of the Czech operational programme Enterprise and Innovations 2007–15, which should increase the competitiveness of industry and develop services for commercial activities. Historically, subsidies often go to peripheral regions at the borderland with Slovakia and Poland, while regions along the borders with Germany and Austria receive only a low level of support. Jurisdictions of the major recipients from hi-tech sectors are mainly in the close vicinity of the largest cities (Praha, Brno), which are natural centres of high technologically demanding sectors, but a high share of high-tech subsidies goes to some peripheral districts as well. These findings can contribute not only to the academic discussion about contradictory developmental impacts of subsidies but to the all-European debate on the EU funds purposes as well.     

Evaluating the governance of structural funds programmes: The case of community economic development in South Yorkshire

Methods for evaluating regional and urban policies have become increasingly sophisticated in recent years. However, this paper argues that the evaluation of Structural Funds programmes has systematically underplayed the effect of governance on both programme design and implementation. This paper uses the role of voluntary and community sector organizations in promoting community economic development initiatives within the European Union's Structural Funds programmes in South Yorkshire as a case study. An argument is made for extending evaluation methods, especially theory-based evaluation, through using multi-level governance as a “theory of change”. A key finding is that to explain how programmes work, evaluators need to consider formal partnership and management arrangements, their traditional focus, but also wider governance structures and the importance of informal policy networks. Such a focus allows for a consideration of issues such as resource mobilization and power.     

南京国民政府前期官费留学经费考察(1927-1937)

近代中国留学事业蓬勃兴起.南京国民政府成立初期,在留学管理政策等方面基本延续了晚清和北洋政府时期的相关政策,但还是有一定的区别,主要体现在留学经费的来源与使用方面.南京国民政府初年留学经费来源渠道不一,在经费拮据的前提下,政府实行了严格的预决算制度.此外,政府还通过鼓励团体和私人资助等形式多方筹措资金,以保障公费留学生的培养所需.经费使用方面,政府在保障学费供给的前提下,为鼓励留学生学业更进一步,对于继续深造的学生往往给予一定资费补助,同时加大了对自费留学生的奖励和扶持.通过对南京国民政府初年留学经费来源和使用情况的考察,发现其经费虽捉襟见肘,但经费的筹措与使用逐步明晰化、制度化,因而在留学生培养上取得了一定成效.     

扩张与困顿：从警政经费看晚清地方警政建设

警政建设是清末国家权力向州县以下地区进行扩张的一次重要尝试。但是由于中央政府的财政已经捉襟见肘。因此不得不谕令地方自筹经费开办。在实际的运作过程中,地方政府因财力不济,不得不采取加重捐税、增加税种以及和地方士绅合作等办法开办警察。由于经费筹措的困难和税源结构的重大调整,清末的警政建设在经历了一段时间的扩张之后,逐渐走向了困顿与萎缩。兴办警政助长了士绅力量的膨胀,冲击了原有的国家权力结构。     

Premature exit from and delayed entrance into the less developed status: An empirical appraisal of the structural funds allocation criterion

This paper investigates the impact of the main criterion employed by the European Commission for the allocation of the largest portion of Structural Funds, based on the threshold of the 75% of European Union (EU) average gross domestic product (GDP) per capita. We focus on the 2014–2020 programming period and on EU-15 regions to analyze if this criterion has penalized some of them, as a consequence of the 2004 EU enlargement, which has represented an exogenous shock in the allocation process, due to the economic backwardness of new member states. Through the application of Synthetic Control Methods and Difference-in-Differences estimators at different geographical scales, we show that regions that did not obtain the less developed status in both the programming period 2007–2013 and 2014–2020, but that would have obtained it in the period 2014–2020 without the 2004 EU enlargement, experienced a significantly lower GDP per capita growth between −10.5% and −5.7%. Conversely, territories that in the period 2014–2020 lost the less developed status, previously obtained in the time frame 2007–2013, were not characterized by a significantly lower economic growth, providing some evidence of the effectiveness of the safety net.     

The impact of EU Objective 1 funds on regional development: Evidence from the U.K. and the prospect of Brexit

Brexit means that regions of the United Kingdom will lose access to the EU Cohesion Policy. Have EU funds been effective, and what might be the consequences of an interruption of EU financial support? This paper studies the impact of “Objective 1” funding—the highest form of EU aid—in Cornwall and South Yorkshire, two of the U.K.’s most subsidized regions. Counterfactual methodologies assessing their labor market and economic performance provide evidence of a positive effect of EU Objective 1 funds. When in 2006 South Yorkshire lost Objective 1 eligibility, this massively reduced its share of EU funds and the region was unable to sustain the gains obtained in previous years. This suggests that while Structural Funds may be effectively improving socio‐economic conditions of poorer regions, the performance of subsidized areas could be deeply affected by a reduction (or worse, an interruption) of EU aid.     

Research briefing

Although pharmacies play an important role in providing information and advice on health issues to lower income people in developing countries, the distribution of urban pharmacies is not balanced with respect to population distribution in some of the districts of Istanbul. This situation can severely limit the accessibility of pharmacy services to the people with lower socio‐economic background. A multiple regression analysis is used in order to find out the factors which affect the spatial distribution of pharmacies in Istanbul. The number of pharmacies in the districts considered is taken as the dependent variable and the number of hospital beds, physicians, population, employment, income, number of educated people and distance to the CBD are taken as independent variables. According to the results, the population of the districts and the number of educated people, physicians and hospital beds are the most important factors affecting the location of pharmacies in Istanbul. The other variables are not found significant in affecting the location of pharmacies at the metropolitan level. Suggestions are made for better distribution of pharmacies and for further research.