INFLUENCE OF STRUCTURAL AND COHESION FUNDS UPON REGIONAL DEVELOPMENT

Regional development and the difference cutback between the development regions of Romania represent the objectives required once Romania joined the European Union. Removing the differences of economic development between the regions among the European Union embodies one of the strategic objectives of the policy of European economic cohesion. In the view of achieving an intra and inter-regional cohesion, we consider that a great significance corresponds to the programmes of non-refundable financing, operationalized by means of structural Instruments of regional development. Highlighting the effects of non-refundable financing upon the economic development of the regions implies the identification of its determinant factors, the dynamic of the absorption level of available funds and a comparative ex-ante analysis during the implementation of the project and another one, ex-post. This is why there will be made a study upon the two Romanian regions with different level of economic development: the West Region (area with a high level of economic development) and the Nord-East Region (area with a low level of economic development). In order to measure the economic differences between the two regions and to highlight the level of economic development influenced by the non-refundable finances allocated by the European Union, we will take into consideration synthetic indicators, relevant for the analysis and comparable in terms of space. Therefore, the specific indicators relevant to the objective of our study are: the GDP - indicator for measuring the level of development, the Unemployment Rate - indicator for characterising the local labour market, and the Average Monthly Income due to its influence upon the standard of living. The research methodology entails a quantitative analysis which will test the validity of the statement according to which the programmes of non-refundable financing influence directly the level of development of a region on its two main components: economic development and social development.