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The Baltic Economies and the Marked out Route to Membership in the European Monetary Union

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  • Iordanka Stateva

Abstract

The research paper presents analysis of policies and problems in Estonia, Latvia and Lithuania on their way to the European monetary union. At the beginning of the 1990s the Baltic countries and Bulgaria have similar problems and economic indicators and they embark on their way to establishing a market economy infrastructure in economic and political chaos. In the middle of the second decade of the 21st century the differences are substantial. The marked out route to the monetary union contains important lessons and the most significant economic comparisons for Bulgaria. The success of the Baltic countries is determined by the strategic choices made in the beginning of the 1990s and the remarkable perseverance based on political will for tough but unavoidable reforms and achieving real convergence as members of a union with developed European countries.

Suggested Citation

  • Iordanka Stateva, 2015. "The Baltic Economies and the Marked out Route to Membership in the European Monetary Union," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 37-65.
    • Handle: RePEc:bas:econst:y:2015:i:1:p:37-65
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    References listed on IDEAS

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    1. Olivier Blanchard & Mark Griffiths & Bertrand Gruss, 2013. "Boom, Bust, Recovery Forensics of the Latvia Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(2 (Fall)), pages 325-388.
    2. International Monetary Fund, 2002. "Lithuania: History and Future of the Currency Board Arrangement," IMF Working Papers 2002/127, International Monetary Fund.
    3. Olivier Blanchard & Mark Griffiths & Bertrand Gruss, 2013. "Boom, Bust, Recovery: Forensics of the Latvia Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 44(2 (Fall)), pages 325-388.
    4. Giuseppe Bertola & John Driffill & Harold James & Hans-Werner Sinn & Jan-Egbert Sturm & Ákos Valentinyi, 2014. "The EEAG Report on the European Economy 2014: The road towards cohesion," EEAG Report on the European Economy, CESifo, vol. 0, pages 01-120, February.
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    Cited by:

    1. Pretsch J. & Pretsch E. & Saretzki J., 2020. "Improving Employee Well-Being by Means of Virtual Reality - REALEX: An Empirical Case Study," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 6, January -.

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    More about this item

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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