USV Annals of Economics and Public Administration (Jun 2016)
THE E.U. REGIONAL POLICY AND THE ECONOMIC DEVELOPMENT
Abstract
The purpose of this paper is to reveal some aspects regarding the evolution of disparities in the European Union, the absorption of the Structural Funds in 2007-2013 period and the regional policy effects. EU expanded in the latest decades, having now regions with different level of development, so that is why economic disparities became higher in the EU. In order minimize them and to consolidate the regional competitive capacity, the regional development policy gained more importance and more funds were allocated to it. The bigger part of these Structural Funds are designated to less developed regions. For 2007-2013 period, the level of the funds absorption is different for the EU countries, as well as the growth of GDP. In the EU, more than a quarter of the regions are less developed with a GDP/inhabitant expressed in Purchasing Power Standard<75% of EU average, but there are less (almost 7%) regions with GDP under 50% of the EU-28 average than 10 years ago, as a result of the regional development policy that contribute to the decrease of the disparities. EU adhering brought an increase of GDP/inhabitant in the Eastern and Central Europe countries. In order to continue the decrease the regional disparities, for the 2014-2020 period the European Structural and Investment funds are also considerable, to the Eastern and Central Europe countries being allocated the biggest part of them.
