Competitiveness in the Baltics in the Run-Up to EU Accession

April 28, 2003

Preview Citation

Format: Chicago

Competitiveness in the Baltics in the Run-Up to EU Accession, (USA: International Monetary Fund, 2003) accessed November 26, 2024

Summary

This paper analyzes competitiveness in the Baltics in the run-up to European Union accession. Several factors appear to have driven movements in equilibrium real exchange rates in the Baltics since the start of the transition process. In the earlier years of transition, price liberalization, increased demand for services and other nontradables, and shifts in domestic production and exports toward higher valued-added products contributed to real appreciation through higher measured inflation. The strength of the real appreciation during these years appears to also reflect the correction of an initial undervaluation of exchange rates.

Subject: Exchange rates, Foreign exchange, Inflation, Prices, Production, Productivity, Real effective exchange rates, Real exchange rates

Keywords: Baltics, CR, Current account, EU accession, Euro, Euro area, Exchange rate, Exchange rate appreciation, Exchange rates, Fiscal policy, Inflation, ISCR, Market share, Nominal exchange rate, Price, Productivity, Productivity convergence, Productivity differential, Productivity growth, Productivity improvement, Productivity performance, Real effective exchange rates, Real exchange rates

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/114
Stock No:

1BLTEA0012003
ISBN:

9781451805376
ISSN:

1934-7685

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