Evaluation of regional convergence in european union

One of the most essential purpose of the European Union’ (EU) integration was the objective to seek for social and economic cohesion. Its importance was indicated already in the agreement on establishment of the European Communities and considering the social and economic differencences among the regions. Its importance became even bigger after 10 new Member States from Central and Eastern Europe joined the EU in 2004. In the fourth of EU Member States the GDP per capita made less than 75 % of EU 27 average GDP. The relevance of the analysis is determined by the fact that due to further EU economic and social integration, the regional economic disparities among the Member States andwithin the regions do not diminish, but rather have tendency to increase. The process of regional converence is contradictory. The rising social and economic differences among the regions can negatively affect the operation of a joint market and raise political and economic tentions. The objective of the research – to analyse the EU convergence proceses and estimate the factors that influnce it. The following tasks were defined: to analyse theories and methods that provide explanation of the converence processes; formulate the research methodology in order to estmate the EU convergence processes; analyse, if there is EU regional convergence happening; estmate which factors influnce ES regions‘ convergence. The following methong were used for the purposes of the research: analysis of the scintific literature and its systemisation, statistical data analysis, correlation and regression analysis, panel regression. After estimation of the EU regions‘ σ and β convergence within the period of years 2004-2015, it is concluded that the processes of convergence are not unambigous, both convergence and divegences was estimated. Un til the financial crisis of year 2008 the processes of convergence were move evident, however after the crisis they became more slow. After carrying the correlation regression analysis, it was estimated that regions, that are more open and are oriented into export have bigger economic growth and convergence possiblities. The development of human capital showed positive effect on the economic growth. High impact of investments and capital formation was estimated in the middle and least development group of countries. Therefore the regions that seek to foster higher economic growth must pay attention to the fostering of export, investments and development of human capital