Building methodology, assessing the risks: the case of energy security in the Baltic States
AbstractThe purpose of this article is not confined to analysis of risks to the Baltic States' energy security. The research aimed to develop methods for risk intensity assessment tools as well empirical examples. It encompasses an effort to tailor a system of damage and probability (i.e. risk intensity) assesment used by other authors to risk analysis. The analysis performed by using this methodology shows the existence of at least two major energy security risks of intolerable intensity for the Baltic States: dependency on a single energy resources supplier and a wrong (in the terms of transparency, competence and knowledge) decision making process. Neutralization of these two risks or mitigation of the negative consequences caused by these should become the energy security priorities for Lithuania, Latvia and Estonia.
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Bibliographic InfoArticle provided by Baltic International Centre for Economic Policy Studies in its journal Baltic Journal of Economics.
Volume (Year): 11 (2011)
Issue (Month): 2 (December)
Baltic States; energy risks; assessment methodology;
Find related papers by JEL classification:
- P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
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