The paper explores regional trade integration of the countries involved in the EU eastward enlargement (EU-25) processes distinguishing the possible regional trade clusters within EU-25 that may support integration of the EU-15 and the new member states. We examine whether the gravity equation...

This paper extends the work of Kaminsky and Schmukler (2003) to the Baltic and Central Eastern European future Member States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of ?emerging...

The paper empirically investigates the monetary transmission mechanism in the Baltic States. The analysis of the transmission channels through which monetary policy shocks are transmitted is particularly important for the European Central Bank that makes monetary policy in an enlarged European...

In recent years, fiscal performance in Central Europe has steadily deteriorated, in contrast to the improvement in the Baltics. This paper explores the determinants of such differences among countries on the path to EU accession. Regression estimates suggest that economic and institutional...

The eastward enlargement of the European Union and the requirements of the European Monetary Union increase pressure for flexibility of labour markets. This paper analyses main changes in the Baltic States? labour market over the period 1990 - 2001 giving emphasis on the problems of labour...

This paper focuses on macroeconomic interdependencies between the Euro area and three transition economies (Estonia, Lithuania and Latvia), with the aim of establishing whether the latter are ready to adopt the Euro. The theoretical framework is based on the Generalised Purchasing Power Parity...

The analysis of Baltic regional trade patterns reveals that during the nineties the Baltic states made significant progress to integrate into the Western European division of labour although a significant share of (transit) trade with Russia remained. In view of this development, history seems...

The paper analyses the evolution of the trade specialisation pattern in the ten countries which will join the EU in 2004, by studying the dynamics of their comparative advantages over the period 1993-2000. The study finds that, although some countries are still broadly relying on natural...

This paper combines the features of outsourcing theory, the principal-agent model and institutional economics, and gives the guidelines how the firms in the Baltic countries might survive in the enlargened EU markets. Such guidelines are presented in three stages to demonstrate an institutional...