This chapter examines policy developments from the mid-1980s to 2003 in terms of growth, macroeconomic stability, cohesion, and budget. The discussion on growth covers the Single Market, and competition and trade policies; Macroeconomic stability covers monetary and fiscal policies. Cohesion policies are grouped into three categories: a policy aimed at promoting regional convergence by allocating development funds to countries and regions on a non-competitive basis; social policy which aims to develop an active labour market policy; and agricultural policy which serves as a instrument for interpersonal redistribution.
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