Convergence or Divergence? Multidimensional Analysis of Regional Development in the New European Union Member States

Abstract

The main aim of the paper is the multidimensional analysis of regional development in the new EU Member States in the years 2004–2014 on the background of EU regions and characterisation of the differences in their dynamics with the use of a synthetic index. The article presents an attempt to adopt a method of taxonomic measure of socio-economic development for multidimensional comparative analysis of development processes in a dynamic approach and to develop a synthetic measure reflecting the multifaceted nature of development processes and cohesion policy. The developed indicator (Regional Development Index) was used to determine the directions and paces of processes leading to the reduction of disparities in the level of regional development (beta- and sigma-convergence).