Exogenous Shocks and Proactive Resilience in the EU: The Case of the Recovery and Resilience Facility

Improving global governance
Posted Aug 16, 2022 | Maastricht Economic and Social Research Institute on Innovation and Technology

The COVID-19 pandemic prompted economic policy innovations in response to new exogenous shocks, resulting in economic recovery policies at national and supranational levels. In this UNU-MERIT Working Paper, Anthony Bartzokas, Renato Giacon and Corrado Macchiarelli consider the modalities of policy innovations and their impacts in the European Union (EU), focusing on the Next Generation EU (NGEU) programme and its centerpiece, the Recovery and Resilience Facility (RRF). They discuss novel elements in the design of the NGEU/RRF vis-s-vis previous EU structural funds aimed at reducing regional divergences across the EU.




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