This study provides new evidence on how production digitalization investment affects firm financial performance across diverse European regions. A panel of 14,935 firm-year observations from 30 countries (2012-2022), including a focused Baltic subsample, is used alongside a refined digital...

This paper explores the climate change performance of the Baltic States-Estonia, Latvia, and Lithuania - through the lens of global climate indices, with particular emphasis on the Climate Change Performance Index (CCPI). As EU member states, the Baltic countries are subject to increasingly...

The shift in monetary policy has different repercussions on bank profits depending on the prevalence of fixed or floating interest rates charged on loans. The Baltic states provide a case study of the impact of monetary tightening on profits in predominantly floating interest rates setup amid...

This European implementation assessment of Regulation (EU) 2016/1139 establishing a multiannual plan for the stocks of cod, herring and sprat in the Baltic Sea and the fisheries exploiting those stocks aims to inform the ongoing work of the European Parliament's Committee on Fisheries (PECH) on...

This study explores the economic feasibility and long-term potential of rooftop photovoltaic (PV) systems in multi-apartment buildings across the Baltic States (Latvia, Lithuania, and Estonia) through 2050. Using stochastic modeling and Monte Carlo simulations, it uniquely evaluates the...

The European Union is the global forerunner in climate change mitigation policies. The new climate change mitigation targets were set for the European Union (EU) countries following the Energy and climate package targets established for renewable energy sources, energy efficiency improvements,...

Russia's invasion of Ukraine in February 2022, reshaped the EU's security landscape, prompting sanctions aimed at weakening Russia's war capabilities. These sanctions also redefined the roles of public authorities and the private sector, introducing new challenges in a shifting geopolitical...

Russia apparently aims to be capable of attacking targets in the Baltic Sea region from Lake Ladoga, which is located north of Saint Petersburg and only 40 kilometres from the Finnish border. Since 2023, Russia has been evaluating the deployment of corvettes equipped with cruise missiles there....

As a part of a two-volume series, this report provides a strategic assessment of Finland, Sweden, Denmark and Germany in the context of escalating geopolitical threats in the Baltic Sea region. It analyses how each country has recalibrated its defence posture - through adjustments to military...

As part of a two-volume series, this report provides a critical analysis of NATO's north-eastern flank - Poland, Lithuania, Latvia and Estonia - as a vital bulwark against evolving Russian threats. It examines how the four countries have transitioned from post-Soviet vulnerabilities into pivotal...

The European Union (EU) Biodiversity Strategy for 2030 sets the target for protected areas in the EU at 30% of its sea area, one third of which needs to be strictly protected. While there is growing interest in studying the progress of ocean protection, there is a need for an overview of the...

In total, nine case studies in the Baltic Sea, North Sea, Atlantic EU Western Waters and some outermost regions (Madeira and Canary Islands) were selected to gather more information on the response of the fishing activities to MPA designation and implementation. The selection of case studies is...

This study examines the hysteresis effects on unemployment rates in the Baltic countries using the RALS-LM unit root test method, based on monthly data from February 2000 to August 2024. It assesses the persistence of unemployment by gender, focusing on both female and male unem-ployment rates....

This paper examines competitiveness and productivity in the Baltics. Focusing on recent developments, it asks why Russia's war in Ukraine led to a prolonged recession and strong decline in competitiveness in Estonia, while Latvia and Lithuania shielded their economies more effectively. The paper...

This study analyzes the dynamic connectedness between the Baltic Dirty Tanker Index (BDTI) and sector indexes in the stock exchanges of the BRIC countries, focusing on the chemical, oil, and raw materials sectors. Using daily data from January 1, 2015, to September 30, 2024, the analysis reveals...

The capital markets are sensitive to geopolitical events. It is important to provide evidence of reactions to specific geopolitical events in order to identify general patterns and effective risk management strategies. This study follows the event study approach to assess the reactions of...

The economic and regulatory environment banks operate in poses challenges in regard to different facets of sustainability and requires proper managerial and technological innovations. Bank performance can be analysed from various viewpoints. Therefore, it is important to develop comprehensive...

This study embarks on a comparative evaluation of Circular Economy (CE) performance in the Baltic States (Latvia, Lithuania, and Estonia) using a robust multi-criteria decision-making (MCDM) framework. Drawing on 22 key indicators, the research applies the Technique for Order Preference by...

Objective: The article aims to examine the impact of digitisation on employment and productivity in the financial sector and provide a comparative analysis between the Central European and the Baltic countries as no study has yet compared these two regions in terms of digitalisation and...

Labor productivity growth has decelerated in the Baltic economies during the past two decades, with the downturn accelerating in recent years. This Selected Issues Paper analyzes the roles of allocative efficiency and firm dynamics in productivity growth. Our results suggest that the lack of...

This study examines young fast growing technology startup companies in Baltic region. Employing unique datasets of startups financial accounting data from Lithuania, Latvia and Estonia comparative and correlation analysis between growth, profitability and financial leverage indicators reflects...

Marine protected areas (MPAs) are widely recognized as an important tool for biodiversity conservation and fisheries management. Despite empirical evidence that abundance and biomass of fished species increase within MPA boundaries, the potential for MPAs to provide fisheries benefits to...

The banking sector of three Baltic countries, i.e., Lithuania, Latvia and Estonia, was abused by money laundering scandals between 2018 and 2020. The Danske Bank scandal was the largest one and, combined with the other scandals, inevitably triggered a heavy critique of national anti-money...

The article discusses the advancement of timber traders and former middlemen in Riga's timber trade during the second half of the 19 th and early 20 th century. Using methods from spatial history, statistical data on the Riga timber trade and archival documents from the timber trade files in the...

The study aimsto empirically test Baumol's cost disease hypothesis about to the secular rise in healthcare expenditures for Northern Europe and the Baltic region in recent decades. Panel data regressions and adjusted Baumol variables are applied to the data for 11 countries of Northern Europe...

This study investigates the impact of foreign direct investment (FDI), domestic investment, and trade on economic growth in the Baltic countries (Estonia, Latvia, and Lithuania). Using annual time-series data from the World Bank for the period 1995-2022, the analysis employs the Pooled Mean...

Coherent Resilience 2023 - Baltic (CORE 23-B) was a Tabletop Exercise on the energy system of the Baltic States with a focus on maritime critical energy infrastructure protection against hybrid threats. The Tabletop Exercise took place on 13-17 November 2023 in Riga, Latvia. The aim of the...

Coherent Resilience 2023 - Baltic (CORE 23-B) was a Tabletop Exercise on the energy system of the Baltic States with a focus on maritime critical energy infrastructure protection against hybrid threats. The Tabletop Exercise took place on 13-17 November 2023 in Riga, Latvia. The aim of the...

Using a large panel of firm-level data, this paper provides an analysis of how inflation shocks in the Baltics between 1997 and 2021 affected total factor productivity (TFP), gross profitability, and net fixed investment in nonfinancial sectors. First, we find that inflation and inflation...

Kaliningrad Oblast was created as a war trophy and a symbol of Soviet victory over Nazi Germany in 1945/1946. For nearly seven decades, it played a strictly military role in Soviet and Russian foreign policy, mostly limited to its Baltic Sea surroundings. This changed when Vladimir Putin came...

EU Green Deal and US Green New Deal strategies indicate that green growth is at the center of the policy agendas of many developed countries and regions. The green growth is a key element in achieving sustain- able development. Green growth is an economic growth strategy that prioritizes human...