Fund, International Monetary - 2009
This paper uses VAR models to examine the magnitude and sources of growth spillovers to the Baltics from key trading …-country spillovers to the Baltics with those from the EU outweighing spillovers from Russia. Shocks to the REER generally depress growth … of spillovers to the region which partly explains the realization of downside risks to the Baltics from the global …