Adjustment Under a Currency Peg : Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09

Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09

Adjustment Under a Currency Peg : Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09
The paper traces the Baltics' adjustment strategy during the 2008-09 global financial crisis. The abrupt end to the externally-financed domestic demand boom triggered a severe output collapse, bringing per capita income levels back to 2005/06 levels. In response to this shock, the Baltics undertook an internal devaluation that relied on... READ MORE...

Publication date: September 2010
ISBN 9781455205448
$18.00

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