Competitiveness in the Baltics in the Run-Up to EU Accession
Competitiveness in the Baltics in the Run-Up to EU Accession

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2003-04-28

Total Pages: 64

ISBN-13: 1451805373

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This paper analyzes competitiveness in the Baltics in the run-up to European Union accession. Several factors appear to have driven movements in equilibrium real exchange rates in the Baltics since the start of the transition process. In the earlier years of transition, price liberalization, increased demand for services and other nontradables, and shifts in domestic production and exports toward higher valued-added products contributed to real appreciation through higher measured inflation. The strength of the real appreciation during these years appears to also reflect the correction of an initial undervaluation of exchange rates.

Currency Boards in Retrospect and Prospect
Currency Boards in Retrospect and Prospect

Author: Holger C. Wolf

Publisher: MIT Press

Published: 2008

Total Pages: 279

ISBN-13: 0262232650

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Employing economic theory, cross-country empirical comparison and case studies, this work analyses the effect of currency boards on inflation, output growth and macroeconomic performance. The case studies come from Argentina, Estonia Lithuania, Bulgaria and Bosnia and Herzegovina.

The Baltics
The Baltics

Author: Mr.Yuan Xiao

Publisher: International Monetary Fund

Published: 2004-07-07

Total Pages: 90

ISBN-13: 9781589063266

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Large current account deficits in Estonia and Latvia, and the continued real appreciation of the exchange rate in Lithuania, have prompted concerns about the competitiveness of the Baltic economies, and called into question the sustainability of their current fixed exchange rate arrangements. Recent external performance, however, appears to be explained more by temporary or cyclical developments than by a deterioration in the underlying competitive position of the Baltic economies. This book assesses the competitive position of the Baltic countries and focuses, in particular, on the viability of the countries’ strategy of maintaining their fixed exchange rates on joining the European Union, participating in its exchange rate mechanism, and then adopting the euro at the earliest possible date.