The Baltic economies were severely hit by the global financial crisis. Gross Domestic Product has contracted considerably. Naturally, it asked what went wrong with the "Baltic economic model". This paper surveys the programme of comprehensive economic reforms in the Baltic countries (the case of...

Few countries have reformed their economies as swiftly and decisively as Estonia in 1992-94. The economic reform program started during the Perestroika, and intensified in the first year of independence. Yet it was in 1992, amid the collapsing economy and under new political leadership, that the...

Cover page -- Halftitle page -- Title page -- Copyright page -- CONTENTS -- LIST OF FIGURES -- PREFACE -- ACKNOWLEDGMENTS -- 1 INTRODUCTION -- The planning machine -- Bound capitalism -- The four horsemen of capitalist decline -- 2 WHEN CAPITALISM BECAME MIDDLE-AGED -- The bridges to Maddison...

Timely, compelling, and certain to be controversial—a deeply researched study that reveals how companies and policy makers are hindering innovation-led growth Conventional wisdom holds that Western economies are on the threshold of fast-and-furious technological development. Fredrik Erixon and...

Poor countries are believed to be trapped in a vicious circle of poverty where low incomes lead to low savings and insufficient resources for investments. Foreign aid is supposed to boost investment and link poor countries to a virtuous circle of growth. But real per capita growth has not been...