Governance, regional development and management in Cohesion Policy programmes: a geofinance and multilevel perspective

This chapter analyses the governance and management aspects of Cohesion Policy (CP) operational programmes and regional development based on them, through the lenses of the ‘Geofinance Diamond Model’. This model interlinks the relationships and elements of political geography and finance, connecting places, politics and CP policies. It considers the place as an aspect of situating and rooting political and governance systems and communities. Specifically, the CP management ecosystems create a significant EU-wide community, i.e. formal institutions (rules, norms, and organisations) and informal (or implicit) ones, such as individual behaviours, collective routines, social customs and values. The results indicate that Managing Authorities and project planners have power to determine how regional development is implemented, perceived and, eventually, improved. The operational programmes are created by diverse and multilevel entities with a shared language and ‘management-by-objective’ logic across the EU. However, it is crucial to base regional development on local needs.