, Volume 33, Issue 5, pp 238–244 | Cite as

The East Asian model and the Baltic states

  • George J. Viksnins


The three Baltic states of Estonia, Latvia and Lithuania had higher national incomes than most of the other states of the USSR. The “Southeast Asian miracle” economies often did not reach comparable levels until the 1980s. Now that the Baltic states have regained independence, are there any lessons to be drawn from the experience of the “tigers”?


Baltic State Foreign Exchange Reserve World Development Report Asian Tiger Export Expansion 
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  1. 1.
    See Harper's, November 1983.Google Scholar
  2. 2.
    See also The World Bank: East Asian Miracle: Economic Growth and Public Policy, World Bank, 1995; and Asian Development Bank: Emerging Asia: Changes and Challenges, ADB, 1997. See also Harry S. Rowen (ed.): Behind East Asian Growth, Routledge 1998; and Aiko Ikeo (ed.): Economic Development in Twentlieth Century East Asia, Routledge 1997.Google Scholar
  3. 3.
    An excellent overview can be found in Janos Kornai: The Socialist System: The Political Economy of Communism, Princeton University Press 1992; and his more recent Struggle and Hope: Essays on Stabilization and Reform in a Post-Socialist Economy, Edward Elgar 1997. A standard textbook treatment is by Paul R. Gregory and Robert C. Stuart: Russian and Soviet Economic Performance and Structure, Sixth Edition, Addison-Wesley 1998.Google Scholar
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    See Michael T. Skully and George J. Viksnins: Financing East Asia's Success, Macmillan in association with the American Enterprise Institute 1987.Google Scholar
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    For example, see Robert Wade: Governing the Market: Economic Theory and the Role of Government in East Asian Industrialization, Princeton University Press 1990; but see also Paul Krugman: The Myth of Asia's Miracle, in: Foreign Affairs, November 1994.Google Scholar
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    Juris Dreifelds: Latvia in Transition, Cambridge University Press 1996. See also Chapter 7 in George J. Viksnins: Economic Systems in Historical Perspective, Kendall/Hunt Publishing 1997. The reference to Vaclav Klaus is to his Dismantling Socialism: a Preliminary Report, Praha Top Agency 1992, p.27. See also George J. Neimanis: The Collapse of the Soviet Empire: The View From Riga, Praeger 1997.Google Scholar
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    See George J. Viksnins and limars Rimshevitchs: The Latvian Monetary Reform, in: Thomas D. Willett et al. (eds.): Establishing Monetary Stability in Emerging Market Economies, Westview 1995.Google Scholar
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    Ibid., Janos Kornai: Highway and Byways: Studies on Reform and Post-Communist Transition, MIT Press 1995, p. 225.Google Scholar
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    The term is associated with Federal Reserve Chairman Alan Greenspan. See George J. Viksnins: Money Meltdown in Southeast Asia, at, November 13, 1997 (an Internet magazine of commentary).Google Scholar

Copyright information

© HWWA and Springer-Verlag 1998

Authors and Affiliations

  • George J. Viksnins
    • 1
    • 2
  1. 1.Georgetown UniversityWashington D.C.USA
  2. 2.Bank of LatviaRigaLatvia

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