IMF and the Baltics

IMF and the Baltics
Author: Mr.Richard D. Haas
Publisher: International Monetary Fund
Total Pages: 28
Release: 2003-12-01
Genre: Business & Economics
ISBN: 1451875827

The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There is also an assessment of cooperation with the Fund based on interviews with a number of ex-officials. The major conclusion is that the Baltics have been so successful because of their early commitment to change the stabilization and reform policies needed for successful transition, and their ownership of their IMF-supported programs.

A Study of the Soviet Economy. 3-volume set

A Study of the Soviet Economy. 3-volume set
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 324
Release: 1991-12-15
Genre: Business & Economics
ISBN: 9789264134683

This three-volume study of the Soviet economy presents the detailed information, analysis, and recommendations for the summary report presented to the Group of Seven industrial countries in December 1990. The study was prepared by staff members of the IMF, the World Bank, the OECD, and the EBRD.

How Latvia Came Through the Financial Crisis

How Latvia Came Through the Financial Crisis
Author: Anders Åslund
Publisher: Peterson Institute
Total Pages: 159
Release: 2011
Genre: Business & Economics
ISBN: 088132602X

Latvia stands out as the East European country hardest hit by the global financial crisis; it lost approximately 25 percent of its GDP between 2008 and 2010. It was also the most overheated economy before the crisis. But in the second half of 2010, Latvia returned to economic growth. How did this happen so quickly? Current Latvian Prime Minister Valdis Dombrovskis, who shepherded Latvia through the crisis, and renowned author Anders slund discuss why the Latvian economy became so overheated; why an IMF and European Union stabilization program was needed; what the Latvian government did to resolve the financial crisis and why it made these choices; and what the outcome has been. This book offers a rare insider's look at how a national government responded to a global financial crisis, made tough choices, and led the country back to economic growth.

Euro Area Policies

Euro Area Policies
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
Total Pages: 49
Release: 2018-07-19
Genre: Business & Economics
ISBN: 1484369661

The euro area (EA) bank resolution and crisis management arrangements have been strengthened considerably over recent years, but work remains to complete and unify the regime. The adoption of the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR), and the establishment of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM) provide a foundation to deal with problem banks. The authorities remain committed to completing the banking union through the establishment of a backstop for the Single Resolution Fund (SRF) and a European deposit insurance scheme (EDIS) and other measures, many of which are in line with recommendations in this report.

Fiscal Impulse

Fiscal Impulse
Author: Mr.Mark Scott Lutz
Publisher: International Monetary Fund
Total Pages: 13
Release: 1991-09-01
Genre: Business & Economics
ISBN: 1451851448

The concept of fiscal impulse is defined, discussed, and differentiated from measures that attempt to summarize the macroeconomic effects of fiscal policy. Two methodologies are briefly discussed and their corresponding measures presented for the G-7 countries over the ten-year period ending in 1989. Controversies about the measure are highlighted and potential improvements are also discussed.

Global Value Chains and Productivity: Micro Evidence from Estonia

Global Value Chains and Productivity: Micro Evidence from Estonia
Author: Hang T. Banh
Publisher: International Monetary Fund
Total Pages: 41
Release: 2020-07-03
Genre: Business & Economics
ISBN: 1513542303

The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of components vital to everything from health systems to everyday household goods. Despite the vulnerabilities associated with increased interconnectedness, GVCs have also contributed to increasing productivity and long-term growth. We explore empirically the impact of GVC participation on productivity in Estonia using firm-level data from 2000 to 2016. We find that higher GVC participation at the industry level significantly boosts productivity at both the industry and the firm level. Frontier firms, large firms, and exporting firms also benefit more from GVC participation than non-frontier firms, small firms, and non-exporting firms. We also find that GVC participation of downstream industries has a negative correlation with productivity. Frontier firms and large firms benefit more from GVC participation of upstream industries, while non-frontier firms and small firms benefit more from GVC participation of downstream industries. Our results suggest that policies designed to promote participation in GVCs are important to raise aggregate productivity and potential growth in Estonia.

Sweden

Sweden
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
Total Pages: 61
Release: 2016-11-17
Genre: Business & Economics
ISBN: 1475554613

This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.

The Law of the Baltic States

The Law of the Baltic States
Author: Tanel Kerikmäe
Publisher: Springer
Total Pages: 544
Release: 2017-04-05
Genre: Law
ISBN: 3319544780

This is the first book to present the law of the Baltic States in one comprehensive and coherent volume in English. The Baltic States region, which was incorporated by the Soviet Union for 50 years and now is the only such territory in the EU, continues to be characterized by a number of unique traits, problems and developmental trends. This book addresses these facets of law – the status quo, problems and trends – by adopting a comparative perspective structure for all three Baltic States (divided into three main parts – Estonia, Latvia and Lithuania). Each of these parts examines similar core aspects: General Frameworks, Public Law, and Private Law. Taking into account the peculiarities of each country, the individual chapters provide analyses of principles, problems and developments in specific legal branches. The authors of the book are recognized academics and professionals in the field of law. Taken together, their contributions offer a valuable tool and resource for anyone interested in the law of the Baltic States: students, legal practitioners, scholars, administrators, etc.

Estonia, Latvia, and Lithuania: Country Studies

Estonia, Latvia, and Lithuania: Country Studies
Author: Walter Iwaskiw
Publisher: CreateSpace
Total Pages: 334
Release: 2013-06-13
Genre:
ISBN: 9781490435572

This volume is one in a continuing series of books prepared by the Federal Research Division of the Library of Congress. This volume is about Estonia, Latvia and Lithuania.

The Baltics

The Baltics
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 64
Release: 2002-01-24
Genre: Business & Economics
ISBN: 1451805365

This paper on the Baltic countries analyzes medium-term fiscal issues related to European Union (EU) and NATO accession. The paper supports the Baltic authorities’ intention to aim at balancing their budgets over the economic cycle. The paper describes the Baltics’ current fiscal position and structure. It reviews theory and empirical evidence of the possible macroeconomic benefits of fiscal adjustment. It also reviews the experience of earlier EU accession countries prior to and after their accession. The medium-term fiscal frameworks are also presented.