On the basis of a renormalization group analysis of the kernel and of the s
olutions of the BFKL equation with subleading corrections, we propose and c
alculate a novel expansion of a properly defined effective eigenvalue funct
ion. We argue that in this formulation the collinear properties of the kern
el are taken into account to all orders, and that the ensuing next-to-leadi
ng truncation provides a much more stable estimate of hard Pomeron and of r
esummed anomalous dimensions. (C) 1999 Published by Elsevier Science B.V. A
ll rights reserved.