And We’d Like to Thank…::Romania’s Integration into the European Union, 1989-2007

Conditionality is formally a key determinant of many non-member states’ relations with the EU. It is particularly so for states intent on membership. As the case of Romania shows, the EU’s use of conditionality is far from consistent. Relations can develop and accession take place without the requisite conditions being met. This follows from the use the EU makes of the flexibility evident in its evolving and generally vague definitions of the conditions that need to be met. Hence it was often extraneous factors over which Romania had either limited or no influence that were responsible for key developments in relations. These factors include the geopolitical and strategic interests of the EU and its member states, the actions of the Commission and the agenda-setting and constraining effects of rhetorical commitments and timetables, and the dynamics of the EU’s evolving approach to eastern enlargement.

Social Inclusion or Market Competitiveness? A Comparison of Rural Development Policies in the European Union and the United States

The language of EU rural development policy appears more interested in social inclusion and that of US policy more interested in market competitiveness. We seek to determine why policies directed at rural development in the EU and the USA differ. In both contexts new rural development policies emphasize partnership and participation but we find local participation is used to promote social inclusion in the EU and market competitiveness in the USA. An examination of these dimensions illustrates important transcontinental differences and similarities in rural development policies. We explore the socio-historical reasons for differences in the commitment to social inclusion, while also noting similarities in the priority of market competitiveness.

Potential output in a rapidly developing economy: the case of China and a comparison with the United States and the European Union

The authors use a growth accounting framework to examine growth of the rapidly developing Chinese economy. Their findings support the view that, although feasible in the intermediate term, China's recent pattern of extensive growth is not sustainable in the long run. The authors believe that China will be able to sustain a growth rate of 8 to 9 percent for an extended period if it moves from extensive to intensive growth. They next compare potential growth in China with historical developments in the United States and the European Union. They discuss the differences in production structure and level of development across the three economies that may explain the countries' varied intermediate-term growth prospects. Finally, the authors provide an analysis of "green" gross domestic product and the role of natural resources in China's growth. © 2009, The Federal Reserve Bank of St. Louis.