Neuere Entwicklungen in der Konvergenzdiskussion – Die EU-Kohäsionspolitik aus theoretischer Perspektive

Convergence is a fundamental objective of the European Union, which should be achieved by structural, regional and so-called cohesion funds. It is defined as a process of countries to grow more alike. In the neoclassical view, convergence is attained automatically by factor mobility or, alternatively, by free trade. The theory of factor proportions predicts the equalization of factor prices. Also the catching-up hypothesis points out the path of convergence between unequal trade partners through imitation and diffusion of technology, which leads to an increase of productivity. But the New Growth Theory depicts another scenario: Advanced nations will have a continous advantage, because learning-by-doing and accumulation of human capital will lead to advantages of technology and of higher productivity. Additionally, regional economics support the assumption of agglomeration advantages. Convergence policy now tries to influence the development process by a transfer of payments in order to avoid negative backwash effects in underdeveloped regions. But the success of such policies is doubtful. If the reasons for growth deficits are not identified, convergence policy may only cause additional economic distortions.