Artikel
Austerity in the Baltic States during the global financial crisis
The Baltic states were arguably the countries most severely affected by the global financial crisis. This article discusses the boom preceding the crisis, the ensuing austerity policies and the economic effects of these policies. All three countries maintained fixed exchange rates, but the degree of fiscal austerity varied across the countries, with Estonia undertaking the strongest fiscal consolidation in 2009. The downturn was so swift and deep that expansionary policies were unlikely to affect short-term outcomes. Growth returned towards the end of 2009, largely driven by exports. The export performance cannot be directly linked to the austerity policies. The main lesson from the Baltics is that increased macroeconomic stability must be attained by avoiding overheating and unsustainable financial exposure. The challenge for the future is to ensure that austerity policies are implemented during economic booms.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Intereconomics ; ISSN: 1613-964X ; Volume: 48 ; Year: 2013 ; Issue: 5 ; Pages: 293-302 ; Heidelberg: Springer
- Klassifikation
-
Wirtschaft
- Thema
-
Finanzkrise
Haushaltskonsolidierung
Fester Wechselkurs
Wirkungsanalyse
Nordosteuropa
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Staehr, Karsten
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2013
- DOI
-
doi:10.1007/s10272-013-0472-9
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Staehr, Karsten
- Springer
Entstanden
- 2013
Ähnliche Objekte (12)
The financial crisis, austerity policy and Greece
Urban austerity : impacts of the global financial crisis on cities in Europe
Economic crisis and the politics of austerity in Ireland
Economic crisis, austerity and gender equality : the UK case
Economic crisis and the politics of austerity in Ireland
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Further Austerity and Wage Cuts Will Worsen the Euro Crisis
Understanding the crisis: can we move from austerity to prosperity?
Austerity and its alternatives in the European parliament: from the Eurozone crisis to the COVID-19 crisis
The Baltic banking system in the enlarged European Union: The effect of the financial crisis on efficiency
Greek Debt Crisis "An Introduction to the Economic Effects of Austerity"
The financial crisis, austerity policy and Greece
Urban austerity : impacts of the global financial crisis on cities in Europe
Economic crisis and the politics of austerity in Ireland
Economic crisis, austerity and gender equality : the UK case
Economic crisis and the politics of austerity in Ireland
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Further Austerity and Wage Cuts Will Worsen the Euro Crisis
Understanding the crisis: can we move from austerity to prosperity?
Austerity and its alternatives in the European parliament: from the Eurozone crisis to the COVID-19 crisis
The Baltic banking system in the enlarged European Union: The effect of the financial crisis on efficiency
Greek Debt Crisis "An Introduction to the Economic Effects of Austerity"
The financial crisis, austerity policy and Greece
Urban austerity : impacts of the global financial crisis on cities in Europe
Economic crisis and the politics of austerity in Ireland
Economic crisis, austerity and gender equality : the UK case
Economic crisis and the politics of austerity in Ireland
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Recovery of the Baltic States after the global financial crisis: necessity and strategies
Further Austerity and Wage Cuts Will Worsen the Euro Crisis
Understanding the crisis: can we move from austerity to prosperity?
Austerity and its alternatives in the European parliament: from the Eurozone crisis to the COVID-19 crisis
The Baltic banking system in the enlarged European Union: The effect of the financial crisis on efficiency