This paper reconsiders the theoretical foundations of EU regional policy in economics. It begins with a discussion of the line of thought of its prevalent explanation in equilibrium economics which is focusing on market failures as its key underpinning and which is the major toolkit of...

Drawing on the experience of Structural Funds, the paper argues that cohesion may be beneficial to growth under certain conditions. It develops some arguments based on recent economic theory and empirical evidence on the trade off between cohesion and growth and draws some lessons for future policy.

Рассмотрены теоретические основания промышленной политики с позиций неоклассической, институциональной и эволюционной экономической теории. Обоснована...

Comparing the current economic situation of the internal markets of the US and the EU, two things are noticeable. On the one hand, the EU is conducting massive regional policy programmes (notably with their Structural Funds) to foster economic cohesion among the 27 nations belonging to the...

As stated in the preamble of the founding Treaty of the European Economic Community (EEC) of 1957, the essential goal of European integration, is to improve the living and employment situation (usually measured in terms of per-capita GDP and unemployment rate) of EU citizens. From an economic...

After 15 years of EU cohesion policy, implemented through National Development Plans (NDPs) and Structural Funds (SFs), economists remain divided on interpretations of policy effectiveness. As new member states prepare for the next programme of EU cohesion aid, it is important to review this...

There remain several unexplored questions in relation to the analysis of regional innovation systems (RISs). This is the case, for example, about the nature of some types of system failures that avoid developing innovations in regional economies. In this case, system failures may hinder the...

Smart specialisation features prominently in the European regional policy context. This paper discusses how the configuration of the regional institutional framework affects smart specialisation dynamics and policy. It elaborates why and how institutional diversity and integration promote...