Although ambitious targets were set at the start of independent development of the Baltic states, they were met only partially. The Baltic recession reinforced by the global economic crisis has put an end to their initial development model. Now it is clear that all three Baltic states need new...

The Ukrainian economy (prior to the current crisis) achieved a limited recovery, but its prospects continue to be jeopardized by the split between the industrial east, the agrarian west, and the Kyiv region, by failure to modernize the crucial metallurgical sector, and by chronic political crisis.

Ukraine has the greatest economic potential among transition economies, but economic activities in the country highly depend on external markets, especially on the Russian one. The country has come a long way from the 1990-s, but the process of institutional transformation has been slow and met...