This paper contributes to a wide range of studies on Cohesion policy (CP) outcomes by proposing a new approach to directly examine its effect on convergence. We extended the non-linear specification of the conditional β-convergence model by introducing 2- and 3-way multiplicative terms and institutions as moderators not only for growth but also for convergence. By developing and calculating conditional slope coefficients and their standard errors, we found empirical evidence that institutional quality can scale down the diminishing marginal impact of funding and even trigger its increase. Our evidence regarding changes to disaggregation levels, programming period, and CP outcomes is robust. Our research findings suggest a redistribution of funds over the 2021–2027 period in favour of projects dedicated to enhancing institutional quality.

中文翻译：

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检查凝聚力政策的非线性和中介增长和收敛结果的新方法

本文通过提出一种新方法来直接检查凝聚力政策 (CP) 对收敛的影响，从而促进了对凝聚力政策 (CP) 结果的广泛研究。我们通过引入 2 向和 3 向乘法项和机构作为不仅用于增长而且用于收敛的调节器，扩展了条件 β 收敛模型的非线性规范。通过开发和计算条件斜率系数及其标准误差，我们发现经验证据表明，制度质量可以降低资金的边际影响，甚至引发其增加。我们关于分解水平、规划周期和 CP 结果变化的证据是可靠的。我们的研究结果表明，在 2021-2027 年期间将重新分配资金，以支持致力于提高机构质量的项目。