欧洲的交易

米兰—7月,欧盟委员会发布了第六期经济、社会和领土凝聚力(这个词可以大致解读为平等性和包容性)报告。报告列出了一个巨大的2014—2020年投资计划——从欧盟三大基金筹资4,500亿欧元。考虑到如今的经济和财政条件,公共部门投资极有可能在国家预算中被挤出,该计划代表了增长导向型公共部门投资的重大承诺。

欧盟的凝聚力战略值得追求,也十分明智。在过去,大量类似的投资被投入到实体基础设施——特别是交通设施——而如今,该日程已转变为更加平衡的目标组合,包括人力资本、就业、经济的知识和技术基础、信息技术、低碳增长以及治理等。

因此,我们要问,这些投资的经济和社会回报如何。诚然,维持高增长率需要维持高公共投资水平,这样才能增加私人投资(以及公共投资本身)的回报,反过来提振产出和就业。但公共投资只是成功的增长战略的一部分。不论何种情形,公共投资都能带来一些好处,但如果能解决掉其他约束条件,它的影响将远远不止于短期。

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