Title The economic crisis and its aftermath in the Nordic and Baltic countries : do as we say and not as we do / Hilmar Þór Hilmarsson

Edition First Edition Published London ; New York : Routledge, 2019

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Description 1 online resource Series Europa economic perspectives Europa economic perspectives. Contents Theories and methodology -- Pre-crisis and post-crisis economic and social performance of the Nordic countries and the Baltic states : an overview -- The Nordic countries and the Baltic states : small states and multilateralism -- European integration and the Nordic-Baltic region, Schengen and NATO -- Exchange rate policy: fixed or floating? -- Challenges with the euro area : economic benefits versus security concerns and the euro area versus NATO -- Nordic-Baltic banking interconnectedness and the consequences -- International organizations as economic policy advisers for small states : the baltic victims? -- The Nordic welfare model and the Baltic states : anglo-saxon bias -- Fragile Baltic democracy and the challenges of outbound migration -- The extreme cases of Iceland and Latvia during the global economic and financial crisis -- The Nordic-Baltic region : successes, failures, lessons learned and future challenges -- The Nordic countries and the Baltic states : the need for further research Summary The Nordic-Baltic region has become highly integrated. The Nordic countries have been successful in balancing competitiveness and economic growth with social inclusiveness, while the Baltic States have grown economically but remain vulnerable with weak social systems and highly unequal income distribution. European Union (EU) membership and inter-linkages with the continental Nordic banking systems appear to have affected the 2008/09 crisis response of the Baltic States. In spite of their strengths, including their social systems, continental Nordic states are faced with a challenging mix of large, cross-border banks and highly indebted households at a time of rather weak global growth. The Baltic States are challenged by slow economic growth post-crisis, security concerns, and large-scale outward migration of the youngest and most highly educated people. It is now a decade since the Baltic States were hit by the global crisis. It is time to take stock of their progress and assess their relations with other countries in the region and with the EU. This book focuses on the Baltics and their Nordic partners pre- and post-crisis: successes, failures, lessons learned, and future challenges, examining and comparing the crisis response of these various small states that enjoy different income levels, operate different welfare and tax systems, and seek different levels of integration with the EU Notes Includes index Bibliography Includes bibliographical references and index Notes Description based on print version record and CIP data provided by publisher Subject REFERENCE -- General. POLITICAL SCIENCE -- Economic Conditions. Economic history International economic relations SUBJECT Scandinavia -- Economic conditions -- 21st century Baltic States -- Economic conditions -- 21st century Scandinavia -- Foreign economic relations -- Baltic States -- 21st century Baltic States -- Foreign economic relations -- Scandinavia -- 21st century Subject Baltic States Scandinavia Form Electronic book LC no. 2018034198 ISBN 9781351046817 1351046810 9781351046831 1351046837 9781351046824 1351046829 9781351046800 1351046802

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