Theoretical principles and practice of EU regional policy monitoring

The paper explores the practice of monitoring and evaluating regional development policy in the European Union, as well as impact thereof on key indicators of economic and social development both in separate regions and in the EU as a whole. The authors analyzed developments in the regional policy monitoring practice, while also identified peculiarities characteristic of the monitoring process regarding implementation of development programmes and determined main stages of evaluation. The paper specifies basic difficulties in setting up the system of monitoring and evaluating achievement of objectives and coordination of regional programmes. The authors described major disparity in economic and social development of the EU Member States under their development programmes as well as determined main indicators of EU regional disparities. Principles, instruments and mechanisms for monitoring EU regional policy were also defined. The paper analyzes changes in the EU regional development paradigm focusing on the priorities for concentrating financial resources and instruments in terms of cohesion policy.