Convergence between the Baltic and the Nordic economies: Some reflections based on new data for the Baltic countries

Lars Christian Bruno () and Ola Honningdal Grytten ()
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Lars Christian Bruno: BI Norwegian Business School, Postal: BI, Department of Economics, Byfjordparken 17, 4007 Stavanger, Norway, https://www.bi.no/om-bi/ansatte/institutt-for-samfunnsokonomi/lars-christian-bruno/
Ola Honningdal Grytten: Dept. of Economics, Norwegian School of Economics and Business Administration, Postal: NHH, Department of Economics, Helleveien 30, N-5045 Bergen, Norway, https://www.nhh.no/en/employees/faculty/ola-honningdal-grytten/

No 5/2024, Discussion Paper Series in Economics from Norwegian School of Economics, Department of Economics

Abstract: This short paper uses recent estimates of GDP per capita for the Baltic countries for the 1919-2020(22) period to test for convergence between the Baltic and the Nordic economies. Drawing from the methodology used in Bernard and Durlauf (1996) and Greasley and Oxley (1997), we utilise a time-series approach to test for bivariate convergence between the various Baltic and Nordic economies. We find some evidence of conditional convergence and catching up for the interwar period, 1919-1939 and the post-Soviet era 1993-2022, when for the communist growth period until 1988 we find no trace of convergence, when thereafter during the last years of communism, the Baltic economies went into a severe and devastating recession.

Keywords: Baltic; Scandinavia; economic growth; convergence; historical national accounts (search for similar items in EconPapers)
JEL-codes: N14 N34 N94 O47 O52 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2024-04-18
New Economics Papers: this item is included in nep-eec, nep-his, nep-mac and nep-tra
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