Cost-Efficiency Evaluation into the European Union Budget

Abstract

This review is a qualitative study, according to the heterodox approaches, assessed the leading beneficient State under the European Union budget system. For this purpose, the study utilized the Multiannual Financial Framework reports between 2014-2020, which dealt with more than 700 indicators, measuring success against more than 60 general objectives, and more than 220 specific objectives in the performance framework. Therefore, trade globalization, political economy, economic history, social contribution by the European Union budget, and international economics under new-institutional economics have been evaluated in this process. Assessment outcomes found that poorer Member States are the net beneficient regarding the European Union budget’s net balance and financial corrections. However, Germany is the leading beneficient of the European Union budget system as it has extended trade to all along the border of the European Union without tariffs and has become a more cost-effective economy against the outside economies (like the United States of America or China) of the European Union territory. Thus, the current study suggested that nations under the European Union budget system should invest more in sustainable production to get real-time benefit from the European Union integration.