The aim of the European Union's cohesion policy is to reduce development inequalities between the regions of the Member States and to increase economic, social, and territorial cohesion. Expenditures on it account for one‑third of the European Union (EU) budget. Therefore, the appropriate and...

This paper analyzes the issue of convergence in OECD countries and tries to assess the effect of financial crisis on the process of convergence. In other words it will consider whether the global financial crisis pulled the economies of the organization together or pushed them apart. It tries to...