COMPETITIVE REGIONAL DEVELOPMENT AND THE COHESION POLICY OF THE EUROPEAN UNION AS A MEANS OF COUNTERACTING DEVELOPMENT DISPARITIES

Purpose: The main objective of the article is to characterize and analyze the cohesion policy of the European Union in the context of competitive regional development and counteracting excessive development disparities. In implementing the formulated objective, it was assumed that cohesion policy should be evolve towards: greater networking, realising the endogenous potential of the regions, a holistic approach to the continent’s space and strengthening Europe’s position in global competition. It should also be based on a long-term strategic vision. Design/methodology/approach: The article uses a method of analysis of literature in the field of regional studies referring to the problems of competitiveness in regional development. The reference point of the analyses are the main assumptions of the EU cohesion policy setting out the framework for the functioning of regions in the conditions of European integration. The thematic scope of the article includes an analysis of the basic factors and determinants of competitiveness in regional development, presentation of the main causes and dimensions of interregional development divergence and characterization of EU cohesion policy with particular emphasis on its impact on competitiveness and reduction of development disparities in the regional dimension. In the summary of the article, an attempt was made to outline a new model of cohesion policy. The challenges for regional cohesion policy in the context of contemporary global trends and transformations are also presented. Social implications: The impact of the characteristics and analyses contained in the article may be manifested in the scope of objectives, directions and practices implemented by public authorities within the framework of pro-development regional policy. It can contribute to raising the awareness and knowledge of the regional community in terms of targeted, sustainable and competitive development at regional level within the context of the implementation of the priorities and principles of EU cohesion policy. Originality/value: The value of the article is based on a focused analysis of the issue of competitiveness of regional development and showing its determinants in the perspective of EU cohesion policy. The characteristics and analyses of the subject issues contained in the article are included in the current of regional studies dealing with the issue of reducing disparities between regions and counteracting their backwardness through the implementation of programs and policies strengthening economic and social cohesion.