An Assessment of the Economic Performance of the EU Baltic Region States

P V Druzhinin,E A Prokopyev

doi:10.5922/2079-8555-2018-1-1

Abstract

An Assessment of the Economic Performance of the EU Baltic Region States

Highlights

The integration of national economies into the common economic space helps European Union (EU) member countries remove barriers for a free flow of people, capital, goods and services, promoting economic development and enhancing the standards of living
The Russian Baltic Sea region (BSR) lags slightly behind East European countries, and this gap is due to the smaller amount of investments and their lower efficiency
The comparative analysis of the development of the Baltic Sea Region countries that joined the European Union (EU) at different times and the Russian BSR showed that the national economies of the East European countries have been rapidly growing, they still lag behind the developed countries and the differences between the two groups of BSR countries remain substantial

Summary

Introduction

The integration of national economies into the common economic space helps EU member countries remove barriers for a free flow of people, capital, goods and services, promoting economic development and enhancing the standards of living. A. Prokopyev is the foundation and enlargement of the European Union (the EU). The effects of the European integration on the development of the EU member states have been studied quite profoundly, given the fact that 22 counties have joined the EU since its foundation. Owing to a number of peculiarities, the accession of Central and East European countries to the EU in 2004 deserves special attention. According to the World Bank, this accession added another 103 million consumers to the common panEuropean market, enlarging the total EU population to 490 million people. The new member-countries lagged considerably behind in the level of their economic development. The geographic scope of the studies varies from individual EU countries [16, 18] and groups of countries [19, 20] to the entire EU, and the level of territorial division can be down to NUTS 3 [21; 22]

Methods

Results

Conclusion