The European Cohesion Policy and European Regional Development Fund. Conditional Effectiveness and Convergence in the Solow-Model

Although the EU is growing ever closer as a single economic entity, the difference in wealth and economic power among its member nations - from Germany and France to Romania and Bulgaria - is still enormous. This is despite the European Union's continuous efforts to reduce welfare differences between its member states since its foundation in 1958: The long-term objective of the EU is a convergence of income and GDP per capita levels within the entire Union. This policy is known as European ...