Spanish Regional Policy: Economic and social cohesion in the European Union

The aim of this paper is to analyze the economic and social cohesion from the Spanish perspective. The hypothesis is that the economic and social cohesion in the European Union needs three requirements. First, the Structural Funds, European Regional Development Fund, European Social Fund and European Agricultural Guide, and Guarantee Fund, increase their weight in the community budget. Second, the resources of those funds must be concentrated on the lesser developed regions. Third, each region assigns its resources to the improvement of the factors that contribute to its backwardness (quality of human capital, innovation, development, and managerial initiative). The analysis is based on the first and second Community Support Framework [CSF 1989-93 and CSF 1994-99]. (JEL R58, 018).