European Union cohesion policy and its role on the future development of Romania

Starting with the quotation "no matter how beautiful is the strategy, it should occasionally to look at the results" (S.W.L.S. Churchill); through this article is elaborated an analysis regarding the influence of the European Union cohesion policy on Romania's development. The proposed research was performed taking into account the literature of existing economic theories and legal framework in force on cohesion policy, the result is being directed to the discovery of new hypotheses. Both in terms of theory and practical research methods, the authors lead to draw conclusions on the definition, role, goal, instruments and future trends of European Union cohesion policy, which can show off its influence the development of Romania. The starting point of the proposed analysis are the "differences between the economic development of the country compared with the other Member States of the European Union, focusing especially on those differences relating to prosperity, living standards and productivity". In the European context of the previous financial period, 2007-2013, Romania faced problems with the public administration, contracting and project implementation. By overcoming these barriers is creating a base on prerequisites for a better economic development in the current financial period, 2014-2020, in compliance with the targets and future challenges of the cohesion policy of European Union. When it was launched the first line of funding for Romania, many implementers of projects funded from grants failed due to poor project management, lack of effective archiving and inefficient data search. The article is elaborated to analyses the disparities from the previous period of using the cohesion policy instruments in order to generate economic development for Romania. Moreover, the present research is correlating the achievements with the future trends for development aimed by cohesion policy and by the instruments that are used so as to promote "smart, sustainable, inclusive growth".