The Economic Integration Of The EU13 Regions Into EU Economy During The 2004–2013 Period

Abstract

Abstract The aim of this paper is to study and to highlight the applicative and interpretive limits of the GDP per capita indicators, when regional economics of the new member countries (EU13), particularly the process of integration of their regions into EU economy is examined in terms of the beta and sigma convergence. The growth of gross domestic product has long been pursued as the main objective of the economic activities of countries and regions. Its growth is seen as almost a guarantee of the proper functioning of the economy. The governments of individual countries, in the event of a decline in GDP, take measures for its recovery. Small attention, however, is given to the fact, whether such an economic development copes with the parameters of sustainable economic growth. Also, little attention is paid to the study of how the previous growth is reflected in the standard of living of the population and households in respective countries and regions.