Checherita-Westphal, Cristina; Nickel, Christiane; … - European Central Bank - 2009
-capita output convergence across a large sample of European regions during the period 1995-2005. We find that net fiscal transfers …, while achieving regional redistribution, seem to impede output growth and promote an “immiserising convergence”: output … growth rates in poor receiving regions decline by less than in rich paying regions. EU structural and cohesion funds spent …