The heterogeneous effect of European Union Cohesion Policy on regional well-being

This study contributes to understanding the multidimensional effects of the European Union Cohesion Policy and highlights the importance of considering a wider range of well-being indicators when evaluating regional policies. The Extended Regional Development Index is an index of regional well-being that measures a broader set of regional outcomes. We examine the effects of Cohesion Policy on the Extended Regional Development Index in European Union-27 regions from 2007 to 2013, analysing the distributional effects on different quantiles of the index. Our findings highlight the Cohesion Policy's role in supporting regional well-being and individual income levels during the double recession of 2008 and 2011. Moreover, the policy contributes to a process of convergence between regions, especially in light of increased disparities due to the European Union's eastern enlargement.