This paper studies the impact of the EU Structural Funds Programs for 1989-93 on the growth path of the major recipient countries, Greece, Ireland and Portugal. It uses an endogenous growth model of private, public and human capital accumulation in which the public sector and current account...

The authors use an endogenous growth dynamic general-equilibrium model, which accommodates the institutional constraints of the Stability and Growth Pact, to study tax reform in Portugal. Simulation results suggest that tax cuts financed in a nondistortionary way increase long-term GDP; i.e.,...