Tags: Regional disparities and future challenges

Globalization is the increasing integration of world markets due to diminishing transaction costs and weakened barriers to the exchange of goods, services, capital, people, ideas,information and knowledge. While it provides a unique opportunity for development, it benefits more strongly those regions which are in the most favourable position to participate with other regions lagging behind. The uneven spread of benefits and the challenge to traditional cultures have generated opposition to the phenomenon both in the developed world and in middle and low income countries. In this respect,globalization may be considered to represent a challenge to European regional cohesion.

Regional Challenges in the Perspective of 2020 - Regional Disparities and Future Challenges.pdf