Martin Christensen, Georg Weiers, Marcin Wolski

The 2019 assessment of the macroeconomic effects of the European Fund for Strategic Investments with the RHOMOLO-EIB model

The European Fund for Strategic Investments (EFSI) is the financial pillar of the Investment Plan for
Europe. It tackles the post-crisis investment gap in the European Union (EU) and aims to revive
investment in key areas in all the EU Member States. EFSI was launched in 2015 jointly by the European
Investment Bank (EIB) Group and the European Commission. Every year, macroeconomic impact
assessments are carried out using the spatial dynamic RHOMOLO-EIB model in order to gauge jobs and
growth impact of the EFSI-supported operations in the EU. This article illustrates the methodology used
for the assessment and reports the result of the latest set of simulations, corresponding to the portfolio of
all approved EFSI-supported operations as of the June 13th EIB Board of Directors meeting, 2019.
According to the results, EFSI is contributing significantly to job creation and growth. The estimates
suggest that, by 2019, more than 1 million jobs are expected to be created thanks to the approved
operations (1.7 million by 2022), with a positive contribution to GDP of 0.9% (1.8% expected by 2022)
over the baseline.

Keywords: Spatial general equilibrium; fiscal policy; investment

Check other articles from the issue Issue 45 or from other issues.

To cite this article

Christensen, M. ; Weiers, G. ; Wolski, M. (2019). The 2019 assessment of the macroeconomic effects of the European Fund for Strategic Investments with the RHOMOLO-EIB model. Investigaciones Regionales - Journal of Regional Research, 45, 5-15.