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Title The Baltic countries : medium-term fiscal issues related to EU and NATO accession / Johannes Mueller [and others]
Published Washington, DC : International Monetary Fund, 2002
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Description 1 online resource (vi, 44 pages) : color illustrations
Series Occasional paper ; 213. Issues in transition
Occasional paper (International Monetary Fund) ; no. 213
Occasional paper (International Monetary Fund). Issues in transition.
Summary Ten years after regaining independence, the Baltic Countries--Estonia, Latvia, and Lithuania--are expected to be invited to join the European Union (EU) and NATO in 2004. This paper provides a macroeconomic perspective on the Baltics' remarkable economic success to date and of the fiscal challenges that the Baltics face in joining the EU and NATO. The authors offer guidance in this regard by deriving some principles on the appropriate medium-term fiscal stance for the Baltics based on theory and empirical evidence. They examine the experience of countries that acceded to the EU earlier-Greece, Ireland, Portugal, and Spain-and develop three medium-term analytical frameworks to illustrate the fiscal tensions and trade-offs. Their primary advice supports the Baltic authorities' decision to maintain prudent fiscal policy by balancing their budgets over the economic cycle. Curtailing nonpriority spending may be politically difficult, but the Baltic countries are well placed to meet such challenges, and the benefits-more efficient public spending, enhanced growth prospects, and accelerated real convergence with the EU-make this effort worthwhile
Notes "This paper is the product of a team effort of the Baltic Division of the European II Department"--Page v
Available in PDF, ePUB, and Mobi formats on the Internet
Bibliography Includes bibliographical references (pages 41-42)
Notes Online resource; title from PDF title page (IMF, viewed September 10, 2015)
Subject European Union.
North Atlantic Treaty Organization -- Baltic States.
Fiscal policy -- Baltic States.
Form Electronic book
Author Mueller, Johannes, author
International Monetary Fund. European II Department. Baltic Division.
LC no. 2002510215
ISBN 1451974086
1589061047
9781451974089
9781589061040
Other Titles Baltic countries medium-term fiscal issues related to EU and NATO accession