Abstract
The purpose of this paper is to investigate socio-economic development condition and convergence evaluation in the EU-28 states in the context of the EU policy goals. The arm of this research is to estimate socioeconomic disparities and convergence problems in the European states by applying real valuations of well-being situations and economic development challenges in the EU member states. The research methodology is based on the European Commission legitimate documents application and socio-economic strategies, on the convergence theory and convergence scenario calculations and the socioeconomic forecasts analysis in the EU states. This research presents information about different socioeconomic indicators, indexes, and scheme of information`s flows for convergence level estimation. This study contains objectives and general outlines of period 2014-2020 in the framework of Europe as a whole, as well its impact on the EU member states economies and living conditions. Changes in the main socioeconomic concepts impact on EU convergence policy and rapidity of convergence depends on the initial discrepancy of the development level in the EU states. The efficiency of European convergence policy can also be improved by significant economic growth and by a clever choice of the country-specific social activities. This research investigates above information for social situations estimations in EU states as well as GDP growth, unemployment, population’s income level and different welfare indicators. The main results reflect the overall economic situation valuation in the EU countries and present European convergence policy’s impact on social development in the European states. The conclusions contain socio-economic situations appreciation in the context of European strategy goals and social inequality problems clarification in the EU states.
Highlights
European convergence policy is a place-based policy which gives a role to each European state in the sense that it is not an obstacle to the optimal allocation of economic activity but can become a source of growth on its own
The purpose of this paper is to investigate socio-economic development condition and convergence evaluation in the EU-28 states in the context of the EU policy goals
It set the challenge of making Europe "the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion" and included modernization of the European social model, investing in people, and combating social exclusion
Summary
European convergence policy is a place-based policy which gives a role to each European state in the sense that it is not an obstacle to the optimal allocation of economic activity but can become a source of growth on its own. European national economies strategies have been related to the influence of several internal and external factors, and EU convergence process can guarantee political stability and sufficiently consistent implementation of economic and social development. Trends for the recent years are taken as socioeconomic situation development strategy of the EU states which can be used for social estimation as incomes and pensions policy improvement, labor market and education system optimization. Convergence processes for the EU countries must be based on the strong socioeconomic development and GDP, investment flows, new technologies and productivity growth. The process of real economic convergence suggests Catching- up in standards of living in new member states with those of the old EU member states and describes the gradual elimination of disparities in the income level. If this factor is present, poorer countries get closer to the richer ones
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