Baltics, CASE Policy Briefs, Europe, Macroeconomics and macroeconomic policy, Post-communist transition and development issues, Trade, economic integration and globalization

The Baltic Conundrum

After reporting very high growth rates as well as being seen as examples of successful economic transition, the “Baltic tigers” (Lithuania, Latvia and Estonia) are now among the worst victims of the global economic crisis. All three have reported large declines in GDP, income and employment, which threaten the significant development progress made since the mid‐1990s.