The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination?

IF 2.5 3区社会学 Q1 POLITICAL SCIENCE

Politics and Governance Pub Date : 2023-12-29 DOI:10.17645/pag.v11i4.7359

Matilde Ceron

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引用次数: 0

Abstract

The Recovery and Resilience Facility reflects unprecedented solidarity through common financing paired with an innovative governance framework. Member states can access grants and loans through the formulation of National Recovery and Resilience Plans, under a set of conditions that include minimum allocation targets and addressing country-specific recommendations. The analysis evaluates whether the governance of the Recovery and Resilience Facility mitigates one of the longstanding weaknesses of the Economic and Monetary Union architecture: fiscal coordination. Assessing the prevalence of green, digital, and social priorities in the (a) National Recovery and Resilience Plans, (b) the country-specific recommendations, and (c) party manifestos through a quantitative and qualitative text analysis shows some convergence toward supranational preferences, albeit only in the green domain. I provide preliminary evidence at the stage of the formulation of the plans of the effectiveness of the Recovery and Resilience Facility fiscal policy coordination by testing whether recovery agendas in the National Recovery and Resilience Plans reflect EU or national priorities. Deviating from the limited implementation of country-specific recommendations within the European Semester, the analysis indicates the governance of the Recovery and Resilience Facility orients the National Recovery and Resilience Plans toward fostering a green recovery. Findings contribute to the assessment of how pandemic recovery instruments innovate EU fiscal governance and longstanding discussions on the ineffectiveness of fiscal coordination within the Economic and Monetary Union, informing the ongoing debate on the reform of the Stability and Growth Pact and a permanent successor to the Recovery and Resilience Facility.

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国家恢复和复原计划：实现新一代财政协调？

恢复与抗灾融资机制通过共同融资和创新治理框架体现了前所未有的团结。会员国可通过制定《国家恢复和复原计划》，在包括最低分配目标和处理针对具体国家的建议在内的一系列条件下，获得赠款和贷款。分析评估了恢复和复原融资机制的治理是否减轻了经济和货币联盟架构的一个长期弱点：财政协调。通过定量和定性文本分析，评估绿色、数字和社会优先事项在(a) 国家恢复和复原计划、(b) 具体国家建议和(c) 政党宣言中的普遍性，结果显示与超国家优先事项有一定的趋同性，尽管只是在绿色领域。我通过检验国家恢复和复原计划中的恢复议程是否反映了欧盟或国家的优先事项，在计划制定阶段提供了恢复和复原机制财政政策协调有效性的初步证据。与欧洲学期内对具体国家建议的有限实施不同，分析表明恢复和复原融资机制的管理将国家恢复和复原计划导向促进绿色恢复。研究结果有助于评估大流行病恢复工具如何创新欧盟财政治理，以及关于经济和货币联盟内部财政协调效率低下的长期讨论，为目前关于《稳定和增长公约》改革以及恢复和复原机制永久继承者的辩论提供信息。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Politics and Governance POLITICAL SCIENCE-

CiteScore

4.90

自引率

4.50%

发文量

审稿时长

16 weeks

期刊介绍： Politics and Governance is an innovative offering to the world of online publishing in the Political Sciences. An internationally peer-reviewed open access journal, Politics and Governance publishes significant, cutting-edge and multidisciplinary research drawn from all areas of Political Science. Its central aim is thereby to enhance the broad scholarly understanding of the range of contemporary political and governing processes, and impact upon of states, political entities, international organizations, communities, societies and individuals, at international, regional, national and local levels. Submissions that focus upon the political or governance-based dynamics of any of these levels or units of analysis in way that interestingly and effectively brings together conceptual analysis and empirical findings are welcome. Politics and Governance is committed to publishing rigorous and high-quality research. To that end, it undertakes a meticulous editorial process, providing both the academic and policy-making community with the most advanced research on contemporary politics and governance. The journal is an entirely open-access online resource, and its in-house publication process enables it to swiftly disseminate its research findings worldwide, and on a regular basis.