Organizational and Financial Principles for the Development of Euroregions

Iaroslav V. Petrunenko, Svitlana I. Belei, Maryna V. Petchenko, Nataliia V. Kovalenko, Olena A. Bodnar, Nataliia G. Maslak
International Journal of Economics and Business Administration, Volume VIII, Issue 3, 150-160, 2020
DOI: 10.35808/ijeba/493


Purpose: Expanding the borders of international trade, along with the implementation of European policy “without borders” for stimulating economic and social development countries put forward demands for ensuring growth and border areas. One of the forms of such incentives is the formation of Euroregions from two or more territories of different countries. As a result, such a process revitalizes cross-border cooperation and helps eliminate the existing imbalances in economic growth. Thus, the purpose of this academic paper is to identify and analyze the organizational and financial characteristics of the development of Euroregions at the modern stage. Design/Methodology/Approach: We have used the method of comparison, graphical method, as well as the method of analysis and synthesis to conduct the research. Findings: This outlined goal has been ensured through the allocation of legal forms of Euroregions’ activities the conclusion of an agreement on cooperation, the creation of private associations for cross-border purposes, as well as organizations endowed with legal capacity. At the same time, we have analyzed the financial incentives for the implementation of programs and projects, through the allocation of additional funding from European funds. Originality/Value: The paper has identified the most popular forms and directions of the Euroregions’ activities, as well as outlining the problems that they come across along with determining ways to solve them.

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