REGIONAL SOCIO-ECONOMIC CHANGES IN THE FACE OF DEVELOPMENT CONDITIONS IN THE EUROPEAN UNION

Purpose: To identify economic development trends in the European Union, the extent of which is driven by new dimensions of security and cohesion in the socio-economic development of regions, and to analyse and assess the impact of new crisis phenomena on changes in public expenditure to finance public investment projects in EU regions. Design/methodology/approach: The method of critical analysis of the literature on the subject, the method of comparative analysis and the method of time series analysis with the use of selected methods of descriptive statistics in the field of empirical and statistical data in the generic and territorial arrangement by selected categories of regional units were used. Findings: A group of issues was identified that can be regarded as important directions of investment activity, shaping economic processes and introducing changes in social relations and expectations in the EU. The economic differentiation of European regions at the NUTS 2 level was identified, as well as the directions of changes in the spatial disparities of investment potential in regions in Poland, taking into account changes resulting from crisis phenomena. Research limitations/implications: The presented research results are limited by the availability of empirical data in detailed territorial arrangements. Due to the currently observed factors of socio-economic instability, it is advisable to continuously update the data and further analyses under conditions of ongoing crisis phenomena. Practical implications: The practical dimension of the analysis refers to its potential use for the preparation of socio-economic development plans at different levels of public administration. Social implications: The results of the study may provide informative support in the programming processes of public investments for strengthening socio-economic cohesion, reducing social disparities and improving the living conditions of the population. Originality/value: The presented analytical results address the implications and challenges of crisis phenomena affecting the EU economy by regions and variations in investment capacity. The applied territorial approach provides new knowledge that can be used in research and for investment policy at EU, national and regional levels.