Investments of the European Investment Bank in European Neighbourhood Policy Countries and in Turkey Evidence from the Global Financial Crisis, the Arab Spring and the Conflict in Ukraine. Bruges Political Research Papers 65 / 2017

Mattmann, Adrian (2017) Investments of the European Investment Bank in European Neighbourhood Policy Countries and in Turkey Evidence from the Global Financial Crisis, the Arab Spring and the Conflict in Ukraine. Bruges Political Research Papers 65 / 2017. [Policy Paper]

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Abstract

Using data from 2006 to 2015, we study the impacts of the Global Financial Crisis, the Arab Spring, and the conflict in Ukraine on European Investment Bank (EIB) investments in the European Neighbourhood Policy (ENP) countries and in Turkey. Our dataset offers insights on how the EIB adjusts its investments in the aftermath of the three events at the global, regional and country level. The impacts of the events vary at the global ENP level. They also vary between and within the two ENP dimensions and between the ENP countries. We find mixed impacts for Turkey. Our results indicate that political motivation rather than economic demand determine EIB investments in several ENP countries. Political motivation also plays a major role when defining EIB investments in Turkey. Our study lays out the foundation for quantitative research on the EIB operations in ENP countries.

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