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| Author: | Hansen, J.D. Hansen, M. |
| Title: | Are the balance of payments deficits in the Baltic countries sustainable? |
| Journal: | Baltic journal of economics
2004 : SPRING-SUMMER, VOL 4:2, p. 5-24 |
| Index terms: | Balance of payments Baltic countries European Union |
| Language: | eng |
| Abstract: | For almost a decade, all three Baltic countries have witnessed substantial deficits (hereafter as: defs.) on the current accounts of the balance of payments (here as: b-of-pmts). This paper discusses whether this situation should be a matter of concern. The main conclusion is that the recurrent large defs. in the Baltic countries pose a risk for the fixed exchange-rate policies until the countries adopt the euro. In the longer term, large defs. will influence the time path of convergence of living standards btw. the Baltic countries and the EU as a whole. |
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