Efnisyfirlit

• Cover
• Half Title
• Title Page
• Copyright Page
• Table of Contents
• List of illustrations
• The Author
• Acknowledgements
• Preface
• Abbreviations and Acronyms
• Introduction
• Notes
• References
• 1. Theories employed and methodology applied in this book
• Notes
• References
• 2. Pre-crisis and post-crisis economic and social performance of the Nordic countries and the Baltic States: an overview
• Crisis response and the economic and social post-crisis consequences
• Welfare and tax systems in the Baltic States and Nordic countries compared: the links to Baltic austerity
• Austerity programmes in the Baltic States, human costs and long-term growth
• Banking, investment and trade linkages in the Nordic and Baltic region
• Notes
• References
• 3. The Nordic countries and the Baltic States—small states and multilateralism
• Definitions of ‘small states’
• Small states as a group
• Small states and multilateralism
• System-determining, -influencing, -affecting or -ineffectual
• Notes
• References
• 4. European integration and the Nordic-Baltic region, Schengen and NATO
• Free trade theories and economic integration
• Economic integration and security concerns
• Nordic-Baltic collective influence
• Notes
• References
• 5. Exchange rate policy: fixed or floating?
• The Baltics ‘go hard’ with a fixed exchange rate: reasons and consequences
• Does exchange rate policy matter for economic growth?
• Exchange rate regimes, the path to euro adoption and the decision to devalue
• Are fixed exchange rate regimes feasible?
• The Baltic ‘bubble’ versus Polish exceptionalism
• The crisis in Finland and Sweden in the early 1990s versus the Baltics in 2008/09
• Summing up: Sweden versus the Baltics
• The consequences of negative real interest rates
• Notes
• References
• 6. The challenges of euro area membership: Economic benefits versus security concerns, and the euro area versus NATO
• The absence of a currency devaluation option
• Currency union without fiscal union
• Excessive austerity
• The absence of a full banking union
• The European Central Bank
• The euro area and national security
• The Baltic States, NATO and reliance on the USA
• Notes
• References
• 7. Nordic–Baltic banking interconnectedness and its consequences
• Debt, public and private, pre- and post-crisis
• Notes
• References
• 8. International organizations as economic policy advisers for small states: the Baltics as victims?
• The Bretton Woods and EU institutions as advisors to EU member states
• Notes
• References
• 9. The Nordic welfare model and the Baltic States’ Anglo-Saxon bias
• Notes
• References
• 10. Fragile Baltic democracy and the challenges posed by outbound migration
• ‘Exit, Voice and Loyalty’
• Post-crisis recovery and performance
• Social and economic justice
• Notes
• References
• 11. The extreme cases of Iceland and Latvia during the global economic and financial crisis 1
• What does ownership mean for the International Monetary Fund? Some definitions
• Crisis response and ‘government ownership’ in Iceland and Latvia
• The global reaction to Iceland’s crisis
• Iceland’s dispute with the UK and the Netherlands
• EU desperation and the Scandinavian rush to ‘rescue’ Latvia
• The risks of Nordic-Baltic banking sector interconnectedness
• Economic growth and unemployment
• Social progress
• Measures of economic performance and social progress
• Going ‘beyond’ GDP when measuring ‘success’
• Poverty, social exclusion and income inequality in Latvia and Iceland
• Emigration
• Have the reform programmes in Iceland and Latvia been successful?
• Notes
• References
• 12. The Nordic–Baltic region: successes, failures, lessons learned and future challenges
• Crisis response, and the economic and social post-crisis consequences
• The consequences of Nordic-Baltic interlinkages
• The crisis in Sweden and Finland in the 1990s
• Tax and welfare systems and the consequences of austerity
• External challenges including further economic integration
• Challenges
• Challenges related to EU membership: a dysfunctional euro area?
• Notes
• References
• 13. The Nordic countries and the Baltic States—the need for further research
• Why did the Baltics adopt neoliberal policies post-independence, and what policy mix could help make them more inclusive?
• How can the Baltics promote business development and better share the benefits?
• How can the Baltics become more democratic and achieve more circular flows of people instead of showing a tendency to one-way exodus?
• What can the Baltics do to improve cohesion within their borders in order to improve their internal security during a time of growing external uncertainty?
• How can small states reduce their vulnerability in their dealings with international organizations?
• The Nordics have been very active in international development co-operation. How can the Baltics contribute more to development most notably in less advanced transition countries?
• How do foreign banks (mostly Nordic in the case of the Baltic States) influence the policy stance of governments as well as international organizations?
• How can the Baltics better diversify the ownership of their banking sector to reduce cross-border Nordic-Baltic vulnerabilities?
• How can the Baltics develop a more vibrant export sector?
• What level of global integration serves the long-term interest of the Baltics?
• How can small states benefit from international organizations, obtain shelter and avoid vulnerabilities?
• What policy mix, most notably in fiscal policy, is most suitable for small transition countries within the EU?
• Note
• References
• Index