Convergence of Regional Development in the European Union

Abstract

During the last century Europe, politicians have become increasingly aware that the establishment of lasting domestic and international economic relations based on trust and demonstrating solidarity with individuals and / or less  developed nations,  have become indispensable in order to achieve general welfare              It is important to analyse the conditions for achieving economic growth and regional development, which have been discussed in terms of the experiences of Member States over time and their critical issues affecting the EU and making it vulnerable. The issue of the financial instruments used by the EU to improve regional development and alignment of Member States policies is also approached.

The economic development of a region is usually expressed in terms of gross domestic product (GDP). This ratio is also frequently used as a basis for regions’ comparison. Another indicator is the one related to employment. Regional convergence in GDP per capita expressed in PPS can be analysed in different ways.