Sustainable Regional Development – Nudging Behavioural Economy Policies
Sustainable Regional Development – Nudging Behavioural Economy Policies

Author(s): Yulian Mollov, Aygun Erturk-Mincheva
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Sustainable Regional Development; Behavioral economics; Nudge
Summary/Abstract: In accordance with the new paradigm in regional policy, the development of the regions should be based on the local characteristics of the specific territory. This requires the implementation of a place-based /decentralized/ approach, promoting investments in endogenous growth factors such as the business environment, small and medium-sized enterprises, human capital, cultural heritage, etc. Endogenous development factors are even more important in the context of a green and just transition, as different regions will be affected to different degrees. The present study identifies evidence from Bulgaria for the application of the nudge approach in regional policy. The possibilities of behavioral economics for improving cohesion policy and achieving sustainable development of European Union regions are analyzed.

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