Focus - Crisis Management in the EU

The Impact of Developments Implemented from Public Finances, with Special Regard to EU Cohesion Policy

Györgyi Nyikos
PhD, Associate Professor, National University of Public Service, Budapest

Published in: Public Finance Quarterly 2013/2 (p. 163-183.)

Summary: In the latest, most recent phases of the economic crisis when the economic and governmental actors are regularly consulting with each other about the direction that should be followed, it is essential to determine how to use the limited resources available – for the purposes of this topic, the resources aimed at development – in the most efficient and sustainable way. Naturally, in order to be able to assess the efficiency of resource use, one must first decide what should be measured and how. The assessment of public investments and the impact of EU cohesion policy is controversial; assessing necessity, utility and sustainability is no easy task. It is clear, however, that the terms of the assessment of development policy interventions have shifted from the success of the absorption of development resources towards a stronger enforcement of the aspects of efficiency and effectiveness.

Keywords: development-oriented utilisation of public funds, investment impact, effectiveness-utility, evaluation

Journal of Economic Literature (JEL) kód: R11, E61, O47, P47, P48, H50

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