Are the Balance of Payments Deficits in the Baltic Countries Sustainable?. CEPS Working Documents No. 207, 1 July 2004
(2004) Are the Balance of Payments Deficits in the Baltic Countries Sustainable?. CEPS Working Documents No. 207, 1 July 2004.
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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.
| Item Type: | Working Paper |
|---|---|
| Remote Resource Image: |  |
| Public Domain: | No |
| Refereed: | No |
| Status: | Published |
| Authors, Individual: | Drud Hansen, Jorgen and Hansen, Morten |
| Title: | Are the Balance of Payments Deficits in the Baltic Countries Sustainable?. CEPS Working Documents No. 207, 1 July 2004 |
| Language: | English |
| Institution: | Centre for European Policy Studies (Brussels) |
| Journals and Series: | Series > Centre for European Policy Studies (Brussels) > CEPS Working Documents |
| Pages: | 27 |
| Month: | July |
| Year: | 2004 |
| Subjects: | 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 |
| Alternative Locations: | http://shop.ceps.be/BookDetail.php?item_id=1136 |
| ID Code: | 6636 |
| Deposited By: | Wilkin, Phil |
| Deposited On: | 26 January 2008 |
