Concept

Regional policy

Summary
Regional policy is the sum of a series of policies formulated according to regional differences to coordinate regional relations and regional macro operation mechanism, which affects regional development at the macro level. It includes regional economic policy, regional social policy, regional environmental policy, regional political policy, regional cultural policy, etc.Regional policy aims to improve economic conditions in regions of relative disadvantage, either within a nation or within a supranational grouping such as the European Union. Additionally, a regional policy may try to address high levels of unemployment and lower-than-average per capita incomes. Its main tool is public investment. Regional policy of the European Union Although the European Union is one of the richest parts of the world, there are large internal disparities of income and opportunity between its regions. The May 2004 Enlargement, followed by accession of Bulgaria and Romania in January 2007, has widened these gaps. Regional policy transfers resources from richer to poorer regions. “Regional policy targets all regions and cities in the European Union in to support job creation, business competitiveness, economic growth, sustainable development, and improve citizens’ quality of life.” The argument for regional policy is that it is both an instrument of financial solidarity and a powerful force for economic integration. The major Italian experience of regional policy is the Cassa per il Mezzogiorno, set up in the mid-1950s to foster economic development in southern Italy. Originally intended to last for six months, it survived until 1984. New roads, irrigation projects and developments in infrastructure were built in an area where local communities had suffered seriously from poverty, de-population and high levels of emigration. Tourism projects attempted to exploit Calabria’s beaches. UK regional policy was born during the economic depression of the 1930s, when heavy industries in the north were devastated.
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