Assessment of regional economic convergence factors influence in EU countries

Abstract

Recently countries set the goal to achieve both rapid economic arowth at current period and long-term growth resulting in high national economic level. This goal cannot be achieved if vast economic disparities exist among regions determining unequal conditions to the local population, and if economic development potential of some regions is not applied. A period of economic arowth revealed the existing measures as inefficient for reduction of regional economic disparities in the countries due to potentially adverse effect of economic boost on convergence. During economic recession, lacking the financial resources, the objective to reduce regional economic disparities becomes too difficult to implement both in the EU advanced countries and developing ones. The listed reasons determine the relevance of research area and require reassessment of regional economic disparities in the EU countries and underlying causes thereof, considering different national economic level of the EU members and their distinct economic growth, integration to common free maiket zone as well as different market economy experience. The empirical research allowed identifying the factors, which directly positively (national economic development level, economic integration level) and negatively (economic growth, economic system transformation, rate of economic integration) effect regional convergence.