 European Union. Chapter 33 in Evolutionary Spatial Economics, 2020, pp 596-631 from Edward Elgar Publishing Abstract: The European Union (EU) has a rich territorial variety so it needs to pay special attention to solidarity and unity issues. The objective of the EU regional policy is to improve the economic fortune of the EU regions by reducing structural disparities among EU regions. It aims to mitigate and avoid regional inequalities and foster a balanced development on the pan-EU plan in order to create the basis for equal opportunities for all EU subjects. The underlining concept is solidarity and economic and social cohesion. To achieve that, the EU uses legislation and it allocates a third of its annual budget to these matters, representing, after agriculture, the second-biggest budgetary chunk. In sum, the EU regional policy is an investment policy that supports economic growth, innovation, competitiveness, job creation, sustainable development and improvement in the quality of life. The policy is linked with many controversies as many question the results of expensive intervention in regional matters. Regional convergence is still a mysterious analytical development. Keywords: Economics and Finance; Geography (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:17213_33 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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