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Jonas Ljungberg. Foto.

Jonas Ljungberg

Professor emeritus

Jonas Ljungberg. Foto.

Baltic Integration and the Euro

Författare

  • Jonas Ljungberg

Summary, in English

Which have been the consequences of the euro for integration and economic performance in the Baltic Sea region? After the collapse of the Soviet Union, the three Baltic states and Poland have been rapidly catching-up with Western Europe. The Great Recession became a great setback for the former, while less so for Poland. A difference is the monetary policy: the Polish zloty depreciated in the critical moment of the crisis, while currency boards with the aim of joining the euro bestowed appreciation for the Baltics and Finland. Contrary to the purpose, monetary integration has not fostered integration in trade, and the share of the Eurozone in Baltic trade has stagnated. A comparison with other countries in the Baltic Sea region suggests that the euro provides “the golden fetters” of our time. Emigration, also a kind of integration, has become a safety valve with severe social and economic consequences for the Baltic states.

Avdelning/ar

  • Ekonomisk-historiska institutionen

Publiceringsår

2019

Språk

Engelska

Publikation/Tidskrift/Serie

Lund Papers in Economic History. General Issues

Issue

2019:198

Dokumenttyp

Working paper

Ämne

  • Economic History

Nyckelord

  • economic growth
  • integration
  • exports
  • EMU
  • Baltic Sea region
  • exchange rates
  • E39
  • E42
  • F14
  • F15
  • F43
  • N14

Aktiv

Published