The Macroenomic Effect of EU Structural Transfers on the Cohesion Countries and Lessons for the CEECs

This paper provides an evaluation of the possible macroeconomic effects of EU financial assistance, such as the Pre-Accession Structural Funds, on the economic development of the CEECs. The experience of the Cohesion countries (Portugal, Ireland, Greece and Spain) with the Community the Cohesion countries (Portugal, Ireland, Greece and Spain) with the Community suggests that the Pre-Accession Structural Funds, which are similar in structure and rationale with the CSFs, can have an important bearing on the development of the transition countries. The analysis shows that the advantage that the CEECs can take of the Pre-Accession Structural Programs to promote development and the catch-up process is neither automatic nor predetermined. It depends on the specific micro-macroeconomic policies that the CEECs follow during the application of the programs. It also depends on how efficiently these programs are implemented