EU STRUCTURAL FUNDS AS A CATALYST OF ECONOMIC DEVELOPMENT OF REGIONSJournal: International Scientific Journal "Internauka" (Vol.2, No. 49)
Publication Date: 2018-05-15
Authors : Pashayev Tekhrun;
Page : 26-32
Keywords : structural funds; the European Union; problem regions; development; economic growth; project financing;
The article presents the results of the analysis of practical aspects of the formation and use of EU structural funds, the characteristics of these processes in the context of expanding the integration association and the accompanying emergence of problem regions. Features of supranational mechanisms of financial support of development of regions are revealed. The identification of the preconditions for improving the use of EU structural funds as a catalyst for the growth of the economy of its problem regions was carried out. The use of adaptation tools in the institutional environment of the EU, which determine the need for changes in co-financing institutions for the development of problem regions of the EU, is considered. The factors influencing the efficiency of using structural funds for financing projects for the development of problem regions of the EU are determined. It is noted that economic growth of EU problem regions can be facilitated by ensuring transparency, purposefulness and control over the use of EU structural funds at the stages of the selection of financed projects, in the process of their implementation and in summarizing the implementation of the project, to identify and solve the problems of financing regional development projects in the future, and thus increase its effectiveness.
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