Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2012 | 12 | nr 2 | 49--73
Tytuł artykułu

Competitiveness and crisis - the case of the Baltic States economies

Treść / Zawartość
Warianty tytułu
Języki publikacji
The article focuses on the relation between economic crisis and competitiveness of the economy. The Baltic States (Estonia, Latvia and Lithuania) experienced the biggest GDP contraction during the global crisis. Since then, identifying and assessing changes in the relative competitiveness as a consequence of the economic downturn has sparked much interest. The selection of competitiveness measuring tools, which provide the basis for analysis, is of key importance to the conclusions formulated. Employing single macroeconomic variables suggests a much stronger influence of the crisis on competitiveness in comparison to the overall measures (Global Competitiveness Index or IMD Index). However, it is likely that the influence of recession on competitiveness - though certainly present and quite strong - was too short-lived to considerably affect the measures of competitiveness, which were constructed mainly on the basis of the perceptions and opinions of various social and business groups. The main channel through which the crisis undermined competitiveness was macroeconomic situation. It may be generally concluded that a short-term crisis, even if severe, does not have a negative influence on economic competitiveness as long as proper anti-crisis policy is implemented. (original abstract)
Opis fizyczny
  • Poznań University of Economics, Poland
  • Acharya, V.V., Richardson, M., 2009, Restoring Financial Stability. How to Repair a Failed System, Wiley Finance, New York.
  • Åslund, A., 2009, The East European Financial Crisis, CASE Network Studies & Analyses, no. 395, Warsaw.
  • Buiter, W.H., Sibert, A.C., 2006, Eurozone Entry of New EU Member States from Central Europe: Should They? Could They?, NBER (
  • Bulmer, S., Lequesne, Ch., 2005, The Member States of the European Union, Oxford University Press, Oxford.
  • Calvo, G.A., 1998, Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops, Journal of Applied Economics, vol. 1, no. 1, pp. 35-54.
  • Edwards, S., 2005, Capital Controls, Sudden Stops and Current Account Reversals, NBER Working Paper, no. 11170, National Bureau of Economic Research, Cambridge.
  • European Commission, 1995, White Paper: Preparation of the Associated Countries of Central and Eastern Europe for Integration into the Internal Market of the Union.
  • Fagerberg, J.E., Knell, M.S., Srholec, M., 2004, The Competitiveness of Nations: Economic Growth in the ECE Region, Economic Survey of Europe, no. 2, pp. 51-66.
  • Fajnzylber, F., 1988, International Competitiveness: Agreed Goal, Hard Task, CEPAL Review, no. 36, pp. 7-23.
  • Fanelli, J.M., Medhora, R., 2002, Finance and Competitiveness: Framework and Synthesis, in: Fanelli, J.M., Medhora, R. (eds.), Finance and Competitiveness in Developing Countries, Routledge, Ottawa.
  • Fisher, I., 1932, Booms and Depressions, Adephi, New York.
  • Fisher, I., 1933, The Debt-Deflation Theory of Great Depressions, Econometrica, no. 1, pp. 337-357.
  • Friedman, J., Posner, R.A., 2011, What Caused the Financial Crisis, University of Pennsylvania Press, Philadelphia.
  • Garelli, S., 2006, Competitiveness of Nations: The Fundamentals, in: IMD Competitiveness Yearbook.
  • Goldstein, M., 2007, Emerging-market Financial Crises: Lessons and Prospects, speech at the 2007 Annual Meeting, Institute for International Finance, Washington, DC, October 20.
  • Gorton, G.B., 2010, Slapped by the Invisible Hand. The Panic of 2007, Oxford University Press, Oxford.
  • IMF, 2010, World Economic Outlook, October, International Monetary Fund, Washington, D.C.
  • Ingves, S., 2010, The Crisis in the Baltic - the Riksbank's Measures, Assessments and Lessons Learned, BIS Review, no. 11.
  • Kindleberger, C.P., 1991a, Financial Crises, in: Kindleberger, C.P. (ed.), A Financial History of Western Europe, Oxford University Press, New York.
  • Kindleberger, C.P., 1991b, The International (and Interregional) Aspects of Financial Crisis, w: Feldstein, M. (ed.), The Risk of Economic Crisis, University of Chicago Press, Chicago, London.
  • Kindleberger, C.P., 1999, Szaleństwo, panika, krach. Historia kryzysów finansowych, WIG--Press, Warszawa.
  • Kowalski, T., Pietrzykowski, M., 2010, The Economic and Monetary Union vs. Shiftin Competitiveness of Member States, in: Jankowska, B., Kowalski, T., Pietrzykowski, M. (eds.), Dimensions of Competitiveness, Poznań University of Economics, Poznań.
  • Krugman, P., 1994, Competitiveness: a Dangerous Obsession, Foreign Affairs, March/April, pp. 28-44.
  • Mayes, S., Pringle R., Taylor, M., 2009, Toward a New Framework for Financial Stability, Central Banking Publications, London.
  • Minsky, H.P., 1977, A Theory of Systematic Fragility, in: Altman, E.J., Sametz, A.W. (eds.), Financial Crises: Institutions and Markets in a Fragile Environment, Wiley, New York.
  • Minsky, H.P., 1991, The Financial Instability Hypothesis: a Clarification, in: Feldstein, M. (ed.), The Risk of Economic Crisis, University of Chicago Press, Chicago.
  • Minsky, H.P., 1992, The Financial Instability Hypothesis, Working Paper, no. 74, The Jerome Levy Economics Institute, New York.
  • Mundell, R., 2011, The European Fiscal Reform and the Plight of the Euro, Poznań University of Economics Review, vol. 11, no. 1, pp. 7-22.
  • NBP, 2007, Analysis of Economic Situation in the Countries of Central and Eastern Europe in the Second Quarter of 2007, National Bank of Poland, November, Warsaw.
  • NBP, 2009, Analysis of Economic Situation in the Countries of Central and Eastern Europe, National Bank of Poland, December, Warsaw.
  • Nyberg, L., 2009, The Baltic Regional in the Shadow of the Financial Crisis, BIS Review, no. 105.
  • Orłowski, W.M., 2011, Świat do przeróbki. Spekulanci, bankruci, giganci i ich rywale, Wydawnictwo Agora, Warszawa.
  • Pina, Á., 2011, Structural Reforms to Reduce Unemployment and Restore Competitiveness in Ireland, OECD Economics Department, Working Papers, no. 910.
  • Roubini, N., Mihm, S., 2010, Crisis Economics: A Crash Course in the Future of Finance, The Penguin Press, New York.
  • Shiller, R.J., 2008, The Subprime Solution. How Today's Global Financial Crisis Happened, and What to Do About It, Princeton University Press, Princeton.
  • Smolny, W., 2009, Wage Adjustments, Competitiveness and Unemployment - East Germany After Unification, Journal of Economics and Statistics, vol. 229, no. 2-3, pp. 130-145.
  • Szyszka, A. 2011, Genesis of the 2008 Global Financial Crisis and Challenges to the Neoclassical Paradigm of Finance, Poznań University of Economics Review, vol. 11, no. 1, pp. 64-72.
  • Taylor, J.B., 2009, Getting OffTrack. How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis, Hoover Institution Press, Stanford University, California.
  • The Economist, 2007, Loose Fitting, October 18.
  • WEF, 2006, The Global Competitiveness Report 2006-2007, World Economic Forum, Geneva.
  • WEF, 2007, The Global Competitiveness Report 2007-2008, World Economic Forum, Geneva.
  • WEF, 2008, The Global Competitiveness Report 2008-2009, World Economic Forum, Geneva.
  • WEF, 2009, The Global Competitiveness Report 2009-2010, World Economic Forum, Geneva.
  • WEF, 2010, The Global Competitiveness Report 2010-2011, World Economic Forum, Geneva.
  • Vet, J.M. de, 1993, Striving for International Competitiveness: Lessons from Electronics for Developing Countries, OECD Development Centre, Working Paper, no. 84.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.