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Economic Integration and Convergence of EU Member States

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  • Stoyan Totev

Abstract

The EU enlargement and the new challenges related with the integration processes raise the necessity of EU regional policy reconsidering. The paper supports the understanding that accepting one or another theoretical formulation about the convergence processes feel deeply about the formation of the EU regional policy, respectively for its effectiveness. The relation between the economic development and the convergence within the EU were analysed in the light of the two main theoretical directions (the neoclassical one and the new economic theories). Their correspondence to the empirical results is critically evaluated. The positive and the negative consequences related with the development of the integration processes have been investigated. Finally some conclusions are drawn as regards the applicability of the convergence hypothesis and the formation of the EU regional policy.

Suggested Citation

  • Stoyan Totev, 2010. "Economic Integration and Convergence of EU Member States," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 68-86.
    • Handle: RePEc:bas:econth:y:2010:i:7:p:68-86
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    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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