Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

Are the Balance of Payments Deficits in the Baltic Countries Sustainable?. CEPS Working Documents No. 207, 1 July 2004

Drud Hansen, Jorgen and Hansen, Morten (2004) Are the Balance of Payments Deficits in the Baltic Countries Sustainable?. CEPS Working Documents No. 207, 1 July 2004. [Working Paper]

[img]
Preview
PDF - Published Version
Download (195Kb) | Preview

    Abstract

    For almost a decade all three Baltic countries have witnessed substantial deficits on the current accounts of the balance of payments. This paper discusses whether this situation should be a matter of concern. Recent literature on the sustainability of balance of payments deficits is reviewed and put into a Baltic context. The main conclusion is that the recurrent large deficits in the Baltic countries pose a risk for the fixed exchange-rate policies until the countries adopt the euro. In the longer term, large deficits will influence the time path of convergence of living standards between the Baltic countries and the EU as a whole.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > monetary policy
    Countries > Latvia
    Countries > Estonia
    Countries > Lithuania
    EU policies and themes > External relations > EU-Baltics
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Working Documents
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 26 Jan 2008
    Page Range: p. 27
    Last Modified: 06 Apr 2012 12:00
    URI: http://aei.pitt.edu/id/eprint/6636

    Actions (login required)

    View Item

    Document Downloads