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The paper aims at analysing the macroeconomic effects of the Europe 2020 Strategy taking into account economic growth theories. The research problem relates to defining differences how various EU policies, materializing themselves through statistical indicators, impact the EU economic growth as well as how different EU member states are regarding the implementation of Europe 2020. It consists of 3 interrelated parts. The first one presents the analysis frame work, i.e. describes the theories of economic growth and methods, such as correlation analysis and cluster analysis, and a data set, i.e. GDP indicators, Europe 2020, macroeconomic imbalances, fiscal indicators and the innovation index. The second part analyses the results of correlation analysis between GDP growth rates and GDP per capita as a dependant variable and 17 other indicators. On the EU level the level of innovations, energy efficiency, current account balance and expenditures for R&D over 2000-2010 ha the strongest impact on economic growth with the correlation coefficient above 0.7. The third part presents the results of cluster analysis. The EU member states are quite different regarding the Europe 2020 indicators, thus 5 identical clusters were obtained, such as the power of Europe, Scandinavian excellence, the Southern path, the middle class Europe, the poverty Europe.

The paper aims at analysing the macroeconomic effects of the Europe 2020 Strategy taking into account economic growth theories. The research problem relates to defining differences how various EU policies, materializing themselves through statistical indicators, impact the EU economic growth as well as how different EU member states are regarding the implementation of Europe 2020. It consists of 3 interrelated parts. The first one presents the analysis frame work, i.e. describes the theories of economic growth and methods, such as correlation analysis and cluster analysis, and a data set, i.e. GDP indicators, Europe 2020, macroeconomic imbalances, fiscal indicators and the innovation index. The second part analyses the results of correlation analysis between GDP growth rates and GDP per capita as a dependant variable and 17 other indicators. On the EU level the level of innovations, energy efficiency, current account balance and expenditures for R&D over 2000-2010 ha the strongest impact on economic growth with the correlation coefficient above 0.7. The third part presents the results of cluster analysis. The EU member states are quite different regarding the Europe 2020 indicators, thus 5 identical clusters were obtained, such as the power of Europe, Scandinavian excellence, the Southern path, the middle class Europe, the poverty Europe.

The paper aims at analysing the macroeconomic effects of the Europe 2020 Strategy taking into account economic growth theories. The research problem relates to defining differences how various EU policies, materializing themselves through statistical indicators, impact the EU economic growth as well as how different EU member states are regarding the implementation of Europe 2020. It consists of 3 interrelated parts. The first one presents the analysis frame work, i.e. describes the theories of economic growth and methods, such as correlation analysis and cluster analysis, and a data set, i.e. GDP indicators, Europe 2020, macroeconomic imbalances, fiscal indicators and the innovation index. The second part analyses the results of correlation analysis between GDP growth rates and GDP per capita as a dependant variable and 17 other indicators. On the EU level the level of innovations, energy efficiency, current account balance and expenditures for R&D over 2000-2010 ha the strongest impact on economic growth with the correlation coefficient above 0.7. The third part presents the results of cluster analysis. The EU member states are quite different regarding the Europe 2020 indicators, thus 5 identical clusters were obtained, such as the power of Europe, Scandinavian excellence, the Southern path, the middle class Europe, the poverty Europe.

The paper aims at analysing the macroeconomic effects of the Europe 2020 Strategy taking into account economic growth theories. The research problem relates to defining differences how various EU policies, materializing themselves through statistical indicators, impact the EU economic growth as well as how different EU member states are regarding the implementation of Europe 2020. It consists of 3 interrelated parts. The first one presents the analysis frame work, i.e. describes the theories of economic growth and methods, such as correlation analysis and cluster analysis, and a data set, i.e. GDP indicators, Europe 2020, macroeconomic imbalances, fiscal indicators and the innovation index. The second part analyses the results of correlation analysis between GDP growth rates and GDP per capita as a dependant variable and 17 other indicators. On the EU level the level of innovations, energy efficiency, current account balance and expenditures for R&D over 2000-2010 ha the strongest impact on economic growth with the correlation coefficient above 0.7. The third part presents the results of cluster analysis. The EU member states are quite different regarding the Europe 2020 indicators, thus 5 identical clusters were obtained, such as the power of Europe, Scandinavian excellence, the Southern path, the middle class Europe, the poverty Europe.

Common Agricultural Policy emerged as an attempt to secure important aspects of the economic recovery of post-war Europe. Over time Common Agricultural Policy substantially evolved; however, today this policy absorbs a significant part of the European Union's budget and attracts attention of policymakers, scientists, taxpayers and farmers due to inefficiency of policy tools. The current situation shows that there is a strong demand for improving the results of Common Agricultural Policy which could be achieved selecting the proper structure and tools for the Common Agricultural Policy post 2013. The paper is aiming at identifying the likely development directions of the Common Agricultural Policy structure and tools, which are based on the analysis of 2007-2013 Common Agricultural Policy problems, proposed Common Agricultural Policy towards 2020 models and the position of the EU members towards the future of Common Agricultural Policy.

Common Agricultural Policy emerged as an attempt to secure important aspects of the economic recovery of post-war Europe. Over time Common Agricultural Policy substantially evolved; however, today this policy absorbs a significant part of the European Union's budget and attracts attention of policymakers, scientists, taxpayers and farmers due to inefficiency of policy tools. The current situation shows that there is a strong demand for improving the results of Common Agricultural Policy which could be achieved selecting the proper structure and tools for the Common Agricultural Policy post 2013. The paper is aiming at identifying the likely development directions of the Common Agricultural Policy structure and tools, which are based on the analysis of 2007-2013 Common Agricultural Policy problems, proposed Common Agricultural Policy towards 2020 models and the position of the EU members towards the future of Common Agricultural Policy.

Common Agricultural Policy emerged as an attempt to secure important aspects of the economic recovery of post-war Europe. Over time Common Agricultural Policy substantially evolved; however, today this policy absorbs a significant part of the European Union's budget and attracts attention of policymakers, scientists, taxpayers and farmers due to inefficiency of policy tools. The current situation shows that there is a strong demand for improving the results of Common Agricultural Policy which could be achieved selecting the proper structure and tools for the Common Agricultural Policy post 2013. The paper is aiming at identifying the likely development directions of the Common Agricultural Policy structure and tools, which are based on the analysis of 2007-2013 Common Agricultural Policy problems, proposed Common Agricultural Policy towards 2020 models and the position of the EU members towards the future of Common Agricultural Policy.

Common Agricultural Policy emerged as an attempt to secure important aspects of the economic recovery of post-war Europe. Over time Common Agricultural Policy substantially evolved; however, today this policy absorbs a significant part of the European Union's budget and attracts attention of policymakers, scientists, taxpayers and farmers due to inefficiency of policy tools. The current situation shows that there is a strong demand for improving the results of Common Agricultural Policy which could be achieved selecting the proper structure and tools for the Common Agricultural Policy post 2013. The paper is aiming at identifying the likely development directions of the Common Agricultural Policy structure and tools, which are based on the analysis of 2007-2013 Common Agricultural Policy problems, proposed Common Agricultural Policy towards 2020 models and the position of the EU members towards the future of Common Agricultural Policy.