Beyond income transfers to farmers, the macroeconomic spillover of CAP payments in Aragon (Spain), 2007-2013
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Date
2014
Authors
Pérez y Pérez, LuisMonrobel Alcántara, José Ramón
Medina López, Ana
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Abstract
This paper provides an assessment of the macroeconomic impact of the Common
Agricultural Policy (CAP) on Aragon (Spain) through a computable general
equilibrium (CGE) model. During the EU programming period 2007-
2013, Aragon received agricultural subsidies worth 4,055 million Euros. These
grants are received by farmers and then redistributed through their spending
towards other institutional sectors. CAP funds carry in Aragon an average
annual GDP growth of 2.6 % or an average annual increase of agricultural
GVA by 19.6% among other results. This analysis is important because
CAP is changing and resources for this EU policy are expected to be reduced.
In February 2013, the European Council approved the Multiannual Financial
Framework 2014-2020 in which the overall EU budget decreases, is redistributed
and clearly restricts allocations for agricultural policies
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Keywords
Computable General Equilibrium Model, European Agricultural Guarantee Fund, European Agricultural Fund for Rural Development, Common Agricultural Policy, Aragón
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AGROVOC subjects
Desarrollo ruralPAC
Análisis macroeconómico