ABSTRACT
This conclusion presents an overview of key concepts discussed in the preceding chapters of this book. The chapter focuses the process of convergence/divergence along the lines of the neoclassical growth theory and/or of the new economic geography paradigms misses important features of growth and transformation processes that are relevant for studying the evolution of regional disparities. These include the sectoral composition of the economy and processes of structural change, the way in which local territories are able to introduce and assimilate new technologies and socio-economic factors. This chapter explains what factors are responsible for divergence across regions of old European Union (EU) members and what explains increasing polarization between regions in newcomers. Among the factors identified in this book, innovation and human capital are the ones that explain better the growth in income and employment disparities in old EU members, especially in the Eurozone, after the financial crisis.
