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The Baltic countries in the crisis : is better fiscal policy the reason for Estonia's better recovery?

Kotte, Marcel (2015) The Baltic countries in the crisis : is better fiscal policy the reason for Estonia's better recovery?

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Abstract:The Baltic countries were for a long time a European success story with the highest growth rates of all European countries. In the recent economic crisis however the three countries were among the hardest hit and their economies suffered dramatically. All three countries opted to pursue counter-cyclical policies as a reaction to the crisis. As a result all three countries recovered quickly and successfully, although Estonia was more successful than the other two countries. This thesis has the aim to find out what exactly made Estonia more successful. To achieve this 5 variables were identified, that are important factors for the economic performance after relying on counter-cyclical economic policy. After comparing the three countries it has become clear that Estonia was more successful, due to its quicker reaction, to the crisis and its better financial situation before the crisis and also closer following the recommended course of actions than Latvia and Lithuania.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics
Programme:Management Society and Technology BSc (56654)
Link to this item:http://purl.utwente.nl/essays/67835
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