Baltic Sea Region Sees Economic Boom Through Trade and Investments
The article examines how countries in the Baltic Sea region have integrated economically since the 1990s. It looks at trade and foreign direct investment as measures of this integration. The researchers analyze whether the Baltic Sea region functions as a unified economic area and identify smaller economic units within it. They find that Nordic trade with Baltic countries has increased significantly post-Soviet era, with Estonia, Latvia, and Lithuania leading the way in adopting western-style government and business practices. Foreign direct investment can lead to increased trade between countries in the region, and companies may acquire plants in Baltic countries to expand their operations.