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Convergence between the Baltic and the Nordic economies: Some reflections based on new data for the Baltic countries

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Abstract

This short paper uses recent estimates of GDP per capita for the Baltic countries for the 1919-2020(22) period to test for convergence between the Baltic and the Nordic economies. Drawing from the methodology used in Bernard and Durlauf (1996) and Greasley and Oxley (1997), we utilise a time-series approach to test for bivariate convergence between the various Baltic and Nordic economies. We find some evidence of conditional convergence and catching up for the interwar period, 1919-1939 and the post-Soviet era 1993-2022, when for the communist growth period until 1988 we find no trace of convergence, when thereafter during the last years of communism, the Baltic economies went into a severe and devastating recession.

Suggested Citation

  • Bruno, Lars Christian & Grytten, Ola Honningdal, 2024. "Convergence between the Baltic and the Nordic economies: Some reflections based on new data for the Baltic countries," Discussion Paper Series in Economics 5/2024, Norwegian School of Economics, Department of Economics.
    • Handle: RePEc:hhs:nhheco:2024_005
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    File URL: https://openaccess.nhh.no/nhh-xmlui/handle/11250/3127200
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    Keywords

    Baltic; Scandinavia; economic growth; convergence; historical national accounts;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-
    • N94 - Economic History - - Regional and Urban History - - - Europe: 1913-
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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