In this paper, we investigate the macroeconomic effects of the 2007–2013 cohesion policy investments in the EU. First, we present a detailed overview of the EU budget and the contributions of the Member States for the specific policy under scrutiny. Then, we use a dynamic spatial general equilibrium model to assess the overall impact of the policy both in the short and the long run. Finally, we focus on the spatial spillovers generated by the policy programmes and highlight a number of policy-relevant findings with regard to the debate over the financing of the policy and the divide between its net contributors and net beneficiaries. Our main findings suggest that cohesion policy programmes have had a positive and significant impact on the economies of EU Member States and regions, particularly in the poorest regions of the EU. Spatial spillovers imply that the programmes implemented in the main beneficiaries of the policy also benefit its main contributors. For some of these Member States, spillovers constitute the main source of benefits from cohesion policy.

在本文中，我们研究了 2007 年至 2013 年欧盟凝聚力政策投资的宏观经济影响。首先，我们详细概述了欧盟预算以及成员国对具体政策的贡献。然后，我们使用动态空间一般均衡模型来评估政策的短期和长期总体影响。最后，我们重点关注政策计划产生的空间溢出效应，并重点介绍有关政策融资及其净贡献者和净受益者之间分歧的争论的一些与政策相关的发现。我们的主要发现表明，凝聚力政策计划对欧盟成员国和地区的经济产生了积极而重大的影响，特别是在欧盟最贫困地区。空间溢出意味着该政策的主要受益者实施的计划也有利于其主要贡献者。对于其中一些成员国来说，溢出效应是凝聚政策的主要利益来源。