The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination?
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://doi.org/10.17645/pag.v11i4.7359 |
Resumo: | 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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The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination?Covid‐19; fiscal coordination; Economic and Monetary Union; European Semester; National Recovery and Resilience Plans; NextGenerationEU; Recovery and Resilience FacilityThe 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.Cogitatio Press2023-12-29info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.17645/pag.v11i4.7359https://doi.org/10.17645/pag.v11i4.7359Politics and Governance; Vol 11, No 4 (2023): Governing the EU Polycrisis: Institutional Change After the Pandemic and the War in Ukraine; 324-3382183-246310.17645/pag.i374reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttps://www.cogitatiopress.com/politicsandgovernance/article/view/7359https://www.cogitatiopress.com/politicsandgovernance/article/view/7359/3590https://www.cogitatiopress.com/politicsandgovernance/article/downloadSuppFile/7359/3385Copyright (c) 2023 Matilde Ceroninfo:eu-repo/semantics/openAccessCeron, Matilde2024-01-11T15:50:37Zoai:ojs.cogitatiopress.com:article/7359Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:30:02.591462Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
title |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
spellingShingle |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? Ceron, Matilde Covid‐19; fiscal coordination; Economic and Monetary Union; European Semester; National Recovery and Resilience Plans; NextGenerationEU; Recovery and Resilience Facility |
title_short |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
title_full |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
title_fullStr |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
title_full_unstemmed |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
title_sort |
The National Recovery and Resilience Plans: Towards a Next Generation of Fiscal Coordination? |
author |
Ceron, Matilde |
author_facet |
Ceron, Matilde |
author_role |
author |
dc.contributor.author.fl_str_mv |
Ceron, Matilde |
dc.subject.por.fl_str_mv |
Covid‐19; fiscal coordination; Economic and Monetary Union; European Semester; National Recovery and Resilience Plans; NextGenerationEU; Recovery and Resilience Facility |
topic |
Covid‐19; fiscal coordination; Economic and Monetary Union; European Semester; National Recovery and Resilience Plans; NextGenerationEU; Recovery and Resilience Facility |
description |
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. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-12-29 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://doi.org/10.17645/pag.v11i4.7359 https://doi.org/10.17645/pag.v11i4.7359 |
url |
https://doi.org/10.17645/pag.v11i4.7359 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://www.cogitatiopress.com/politicsandgovernance/article/view/7359 https://www.cogitatiopress.com/politicsandgovernance/article/view/7359/3590 https://www.cogitatiopress.com/politicsandgovernance/article/downloadSuppFile/7359/3385 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2023 Matilde Ceron info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2023 Matilde Ceron |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Cogitatio Press |
publisher.none.fl_str_mv |
Cogitatio Press |
dc.source.none.fl_str_mv |
Politics and Governance; Vol 11, No 4 (2023): Governing the EU Polycrisis: Institutional Change After the Pandemic and the War in Ukraine; 324-338 2183-2463 10.17645/pag.i374 reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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