scholarly journals BUSINESS CYCLES SYNCHRONISATIONS IN THE BALTIC COUNTRIES

2020 ◽  
Vol 18 (1) ◽  
pp. 127-141
Author(s):  
Arvydas Kregždė
Keyword(s):  
Business Cycles ◽  
Euro Area ◽  
Nordic Countries ◽  
Economic Policies ◽  
External Shocks ◽  
Real Business Cycles ◽  
Financial Variables ◽  
Baltic Countries ◽  
The Baltic ◽  
First Time

Purpose – The purpose of the paper is to investigate the level of real business cycles synchronisation between the Baltic and the Nordic countries and between the Baltic countries and the euro area. Research methodology – Wavelet analysis was employed to evaluate the level of synchronisation for different periods and time. Quarterly data from 1995 Q2 to 2019 Q4 was used. Findings – We discover the influence of several essential events in economies of the Baltic countries on the synchronisation: accession to the EU in 2004, the introduction of the euro in the Baltic countries and some external shocks. Research limitation – A lack of reliable long-term data from the Baltic countries does not allow performing calculation for other important financial variables. Practical implications – Results of the research are important for forecasting and implementing flexible economic policies of the Baltic countries. Originality/Value – Business cycles synchronisation between the Baltic countries themselves and between the Baltic countries, the Nordic countries and the euro area countries across time and various frequency dimensions was investigated for the first time.

scholarly journals Political economy of the euro area crisis

2011 ◽  
Vol 58 (5) ◽  
pp. 593-604 ◽  
Author(s):  
Casimir Dadak
Keyword(s):  
Political Economy ◽  
Monetary Policy ◽  
Business Cycles ◽  
Exchange Rates ◽  
Euro Area ◽  
Monetary Integration ◽  
Economic Policies ◽  
Loss Of Control ◽  
Demand Side ◽  
Currency Area

For many experts the true motivation behind the introduction of a single currency in Europe is political rather than economic. This view is based on the fact that the euro area does not constitute an optimal currency area and, therefore, the costs of monetary integration are likely to outweigh the benefits. In particular, the loss of control over monetary policy and exchange rates make overcoming asymmetric demand-side shocks very painful. Moreover, the monetary union lacks a common fiscal authority that could help in smoothing out business cycles. The present crisis exposed these vulnerabilities and, unfortunately, so far economic policies adopted in the region have failed to rectify these shortcomings.

Banking Sector of Baltic Countries

2012 ◽  
pp. 62-68
Author(s):  
V. Olenchenko
Keyword(s):  
Economic Crisis ◽  
Banking Sector ◽  
Nordic Countries ◽  
Baltic Region ◽  
Baltic Countries ◽  
The Baltic

The author states that Baltic banking sector is notable for its heterogeneity. Under conditions of global financial and economic crisis of 2008–2010 and the problems in the Eurozone this became a factor that is aggravating the crisis processes. In particular, a conclusion is drawn that the situation in Baltic banking sector developed and continues to develop under two scenarios. One is realized by the capital from Nordic countries which dominates in the Baltic region. Other participants of banking sector adhere to another one. Scenarios differ by the objects in view and means used. Generally, a tendency of stagnation of Baltic bank sector’s activity is marked.

Lichens, Lichenicolous and Allied Fungi Found in Asveja Regional Park (Lithuania)

2012 ◽  
Vol 18 (2) ◽  
pp. 85-100 ◽  
Author(s):  
Jurga Motiejūnaitė ◽  
Toni Berglund ◽  
Paweł Czarnota ◽  
Dmitry Himelbrant ◽  
Filip Högnabba ◽  
...  
Keyword(s):  
Lichenicolous Fungi ◽  
Red Data Book ◽  
Baltic Countries ◽  
Data Book ◽  
The Baltic ◽  
First Time

Abstract Motiejūnaitė J., Berglund T., Czarnota P., Himelbrant D., Högnabba F., Konoreva L. A., Korchikov E. S., Kubiak D., Kukwa M., Kuznetsova E., Leppik E., Lõhmus P., Prigodina Lukošienė I., Pykälä J., Stončius D., Stepanchikova I., Suija A., Thell A., Tsurykau A., Westberg M., 2012: Lichens, lichenicolous and allied fungi found in Asveja Regional Park (Lithuania) [Kerpės, lichenofiliniai ir kerpėms artimi saprotrofiniai grybai Asvejos regioniniame parke]. - Bot. Lith., 18(2): 85-100. The paper reports the results of lichenological investigations in Asveja Regional Park (eastern Lithuania). A large part of the study was performed during the joint 18th Symposium of the Baltic Mycologists and Lichenologists (BMLS) and Nordic Lichen Society (Nordisk Lichenologisk Förening, NLF) meeting on 19-23 September 2011. A list of 259 species is presented. Of these, 30 species are new to Lithuania. Arthonia helvola, Bacidina sulphurella, Candelariella lutella, Catillaria croatica, Cladonia conista, Gyalecta derivata, Lecanoraquercicola, Leptosphaeria ramalinae, Strigula jamesii, Trichonectria rubefaciens, Verrucaria banatica, V. boblensis, V. christiansenii, V. illinoisensis, V. inornata, V. nigrofusca, V. trabicola, Zwackhiomyces diederichii were recorded for the first time in the Baltic countries. New lichens to Lithuania are as follows: Bacidiaincompta, Caloplaca crenulatella, C. pyracea, Catinaria atropurpurea, Lecanora populicola, L. semipallida, Mycobilimbia epixanthoides, Ramalina dilacerata, Verrucaria inaspecta, and new lichenicolous fungi are: Cladosporium licheniphilum, Stigmidium microspilum, Xenonectriella leptalea. Eighteen species included in the Lithuanian Red Data Book were recorded, which is the highest number known for any studied area in Lithuania.

scholarly journals Hepatitis B in northwest Russia and the Nordic and Baltic countries: recent trends and prevention activities

2005 ◽  
Vol 10 (10) ◽  
Author(s):  
H Blystad ◽  
L Blad ◽  
A Tulisov ◽  
P Aavitsland
Keyword(s):  
Hepatitis B ◽  
Carrier State ◽  
Nordic Countries ◽  
Notifiable Disease ◽  
Baltic Countries ◽  
Acute Infections ◽  
Recent Trends ◽  
Prevention Activities ◽  
The Baltic ◽  
Chronic Carrier

Hepatitis B is a notifiable disease in all the Baltic and Nordic countries, and in northwest Russia. Iceland and Estonia, however, do not have systems to separate acute infections from a chronic carrier state

scholarly journals ADAPTATION TO EXTERNAL SHOCKS WITHIN THE CURRENCY BOARD SYSTEM ON THE EXAMPLE OF THE BALTIC COUNTRIES AND BOSNIA AND HERZEGOVINA

2021 ◽  
Vol 6 (1) ◽  
pp. 161-175
Author(s):  
Marina Jerinić ◽  
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Bosnia And Herzegovina ◽  
Great Recession ◽  
Exchange Rate Regime ◽  
Nominal Exchange Rate ◽  
Currency Board ◽  
External Shocks ◽  
Baltic Countries ◽  
The Baltic

One of the most important economic policy issues, especially in the post-transition countries, is exchange rate regime (ERR), i.e. the question of optimal exchange rate regime that would stimulate economic growth and propagate macroeconomic stability. For small and EU-oriented countries like Bosnia and Herzegovina (B&H), the EU accession processes and character of countries' economic cycle phase are usually highlighted among many factors. The choice of the appropriate exchange rate system is determinated by the specific characteristics of individual countries, time moment and the characteristics of the external shock occurrence. It is generally accepted that monetary instabilities are treated by fixation and real economic shocks by exchange rate fluctuations. An important criterion for assessing the adequacy of the current exchange rate regime is its response to external shocks, such as the Great Recession in 2008. While flexible exchange rate regime is used as an automatic stabilizer, fixed exchange rates place certain restrictions. The process of macroeconomic adjustment in the Baltic States is an example of how large macroeconomic imbalances can be reduced without adjusting the nominal exchange rate and how the currency board can be successfully used as a stage in the euro introduction process. The aim of this paper is to give a comparative overview of the currency board introduction in Bosnia and Herzegovina and the Baltic countries, results achieved and reactions to external shocks (Great Recession in 2008) within this exchange rate arrangement, so conclusions that could be valuable in post-COVID 19 recovery can be drawn. Key words: exchange rates, currency board, external shocks

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