Lessons from Latvia

Olivier Blanchard, 15 June 2012



In 2008 Latvia was widely seen as an economic basket case, a textbook example of a boom turned to bust.

Topics: Macroeconomic policy
Tags: global crisis, IMF, Latvia

Growing together: Croatia and Latvia

Thorvaldur Gylfason, Eduard Hochreiter, 8 December 2010



Croatia and Latvia regained independence in the early 1990s. While Latvia could promptly start adjusting its policies to prepare for its integration into the EU (and NATO), Croatia suffered a bloody war of independence that, including its political aftermath, set its EU ambitions back by about a decade.

Topics: Development, Europe's nations and regions
Tags: Croatia, Eastern Europe, Latvia

Is Latvia the new Argentina?

Eduardo Levy Yeyati, 22 June 2009



The strategy of engineering an “internal” depreciation under a peg in Latvia (via contractionary fiscal policy, wage cuts and price deflation) implicit in the IMF program (IMF 2009) is proving too painful, if not self-defeating as in the 2001 collapse of Argentina’s currency board (De La Torre et al 2003).

Topics: Europe's nations and regions
Tags: currency crisis, euroisation, Latvia

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