SOCIO-ECONOMIC DEVELOPMENT OF THE BALTIC STATES: AN EVALUATION IN THE CONTEXT OF EUROPEAN INTEGRATION
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Abstract
Abstract.This article presents a comparative analysis of the socio-economic development of the Baltic States – Lithuania, Latvia, and Estonia – during the post-Soviet era, with a focus on their integration into the European Union. It explores key economic reforms, shifts in socio-economic structures, and the social costs associated with the transition to a market economy. The analysis highlights both the successes and shortcomings of the reform processes, as well as the major challenges currently confronting the Baltic economies. Special attention is given to the risks associated with declining competitiveness and the urgent need for structural transformation toward high value-added industries. The findings offer practical insights for assessing policy effectiveness and shaping future development strategies in the region. The study introduces a set of indicators and proposes a methodology for evaluating the effectiveness of socio-economic policies, drawing on statistical data from 2020 to 2023. In order to compare the trajectories of socio-economic development in the Baltic States over the period 2020–2023, the Dynamic Time Warping (DTW) analysis was conducted.
How to Cite
Tsaurkubule, Z., & Zhukovskaya, C. (1). SOCIO-ECONOMIC DEVELOPMENT OF THE BALTIC STATES: AN EVALUATION IN THE CONTEXT OF EUROPEAN INTEGRATION. Baltic Journal of Legal and Social Sciences, 2(2), 133-151. https://doi.org/10.30525/2592-8813-2024-2-2-14
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Keywords
Baltic States, socio-economic development, European integration, economic reforms, policy evaluation, DTW-analysis.
References
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33. Tsaurkubule Zh. (2017). Evaluating the Efficiency of the State Socio-Economic Policy of Latvia. Contemporary Economics, Polija, Waršawa: University of Finance and Management in Warsaw, 11(3), pp. 327-341.
34. Babkova Je.G., Panahov A.U (2018). Rejtingovaja ocenka sbalansirovannogo razvitija regionov Central'nogo federal'nogo okruga.// Nauchnyj zhurnal NIU ITMO. Serija Jekonomika i jekologicheskij menedzhment № 2, c. 19-27. https://openbooks.itmo.ru/read_economics/17887/17887.pdf [In Russian]
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40. Giorgino T (2009). “Computing and Visualizing Dynamic Time Warping Alignments in R: The dtw Package.” _Journal of Statistical Software_, *31*(7), 1-24. doi:10.18637/jss.v031.i07.
2. Morohin V. (2008) Organizacionnye i pravovye osnovy kommercheskoj dejatel'nosti. Riga, Str. 11. [In Russian]
3. Samujel'son P. (1992) Jekonomika. V 2-h t. M.: Algon. Chast' 1, str. 47. [In Russian]
4. Auzan A. (2014) Jekonomika vsego. Kak instituty opredeljajut nashu zhizn'. M. : Mann, Ivanov i Ferber, 192 c. https://library.fa.ru/files/Auzan-econom.pdf [In Russian]
5. Smit A. (1776) Issledovanie o prirode i prichinah bogatstva narodov : Inquiry into the nature and causes of the wealth of nations. M: Jeksmo, 2022, str 8. [In Russian]
6. Opyt o zakone narodonaselenija // Antologija jekonomicheskoj klassiki / Mal'tus T., Kejns Dzh. M., Larin Ju.; predisl. sost. Stoljarova I.A., T.2.- M: Jekonov: Kljuch, 1993., s.22. [In Russian]
7. Marks K. (1867). Kapital: Das Kapital. V 3-h t. M.: T.1., s. 773.
8. https://www.marxists.org/russkij/marx/cw/t23.pdf [In Russian]
9. Shumpeter J. (1911). Teorija jekonomicheskogo razvitija: Theorie der wirtschaftlichen Entwicklung. M.: Jeksmo, 2005. 564 s. https://crystalbook.ru/wp-content/uploads/2021/05/2008_Jozef_Shumpeter_Teoria_ekonomicheskogo_razvitia_Kapitalizm_sotsializm_i_demokratia.pdf [In Russian]
10. Veber M. (1905). Protestantskaja jetika i duh kapitalizma: Die protestantische Ethik und der «Geist» des Kapitalismus. M.: ACT, 2020. 352 s. http://filosof.historic.ru/books/item/f00/s00/z0000297/index.shtml [In Russian]
11. Kejns Dzh. M. (1936). Obshhaja teorija zanjatosti, procenta i deneg: The General Theory of Employment, Interest and Money. M.: ACT, 2025. 448 s. https://www.booksite.ru/localtxt/kei/ns/keins/obshay_teoria/index.htm [In Russian]
12. Pigou A. C. (1920). The Economics of Welfare, Fourth edition. London:
13. Macmillan and Co, 1932. 872 s. http://files.libertyfund.org/files/1410/0316_Bk.pdf
14. Pareto V. (1906). Manual of Political Economy. UK: Oxford University Press, 2014. 71 s. https://api.pageplace.de/preview/DT0400.9780191650635_A23595287/preview-9780191650635_A23595287.pdf
15. Veblen T. B. (1899). The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions. New York : Macmillan, 2000.-412 s.
16. North D.C. (1989), Institutions and Economic Growth: An Historical Introduction // World Development, 1993, vol.17, no.9, pp.1319–1332. © Pergamon Press
17. Sen Am. K. (1999). Razvitie kak svoboda: Development as Freedom. M.: Novoe izdatel'stvo, 2004. 432 s. [In Russian]
18. Doklad o rabote pervoj i vtoroj ocherednyh sessij i ezhegodnoj sessii 2020 goda (2020). Nauchnyj doklad. Organizacija Ob”edinennyh Nacij (OOH).- N'ju-Jork.-119 c. https://www.unicef.org/executiveboard/media/2371/file/2020-7-Rev1-Board%20report-RU-ODS.pdf [In Russian]
19. Sodejstvie stranam v adaptacii k menjajushhemusja miru. (2022). Vsemirnyj Bank, Godovoj otchet 2022, 116 s. https://documents1.worldbank.org/curated/en/099509109302242421/pdf/IDU0a4abe85403bed04d170990a0fc59d2069136.pdf [In Russian]
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22. Statistical database of Estonia (2025). https://andmed.stat.ee/en/stat
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24. Tsaurkubule Zh., Vishnevska A. (2020). Tendencii razvitija jekonomik stran Baltii v uslovijah jekonomicheskoj recessii. Upravlenie i ustojchivo razvitie, vol. 26. (2/2010) – University of Forestry, Sofia, Bulgaria, 2010, str. 121-128. [In Russian]
25. Tsaurkubule Zh., Vishnevska A. (2020). Analiz makrojekonomicheskih pokazatelej razvitija Pribaltijskogo regiona posle vstuplenija v ES i na sovremennom jetape. Spojnošč w rozwoju regionalnym w Polsce obecnie i w przyszlošci. Nr.143. Wroclawa, Polija, str. 58-70. [In Russian]
26. Tsaurkubule Zh. (2014). Comparative Analysis of Socio-Economic Development of the Baltic States in the Context of European Integration. Studies: Theory and Practice. Šauli, Lietuva, № 14, l pp. 92-101.
27. Tsaurkubule Zh,, Vishnevskaya A. (2017). The comparative analysis of the main indicators of the Baltic states economic development in the conditions of the European integration. Wyzwania dla spójności Europy – gospodarka, zrównoważony rozwój, konkurencyjność Nr. 466. Wroclawa, Polija: pp. 223-235.
28. Tsaurkubule Zh.(2020). Strany Baltii v uslovijah integracii v Evropejskij Sojuz: sravnitel'nyj analiz social'no-jekonomicheskogo razvitija. – Nauchnye trudy Belorusskogo gosudarstvennogo jekonomicheskogo universiteta. Vypusk 13., Baltkrievija, Minska. Minska: BVEU, lpp. 512-524. [In Russian]
29. Davydenko N., Pasichnyk Y. (2017). Features of socio-economic development of the Baltic states and Ukraine. Baltic Journal of Economic Studies 3(5):97-102. https://www.researchgate.net/publication/323742383_FEATURES_OF_SOCIO-ECONOMIC_DEVELOPMENT_OF_THE_BALTIC_STATES_AND_UKRAINE
30. Krasnopjorovs O. (2021). How can Latvia catch up with Estonia and Lithuania? Latvijas Banka.- https://www.macroeconomics.lv/raksti/how-can-latvia-catch-estonia-and-lithuania
31. Tsaurkubule Zh.L. (2011). Mehanizm realizacii social'noj politiki Latvii v sovremennyh uslovijah. Problemy prognozirovanija i gosudarstvennogo regulirovanija social'no-jekonomicheskogo razvitija. Belarus', Minsk: NIJeI, (3), str. 149-150. [In Russian]
32. Tsaurkubule Zh. (2015). Improving Social Policy of Latvia as a Factor of Sustainable Development of the State. Unia Europejska w 10 lat po największym rozszerzeniu. Polija , Wroclaw, (380), pp. 510-524.
33. Tsaurkubule Zh. (2017). Evaluating the Efficiency of the State Socio-Economic Policy of Latvia. Contemporary Economics, Polija, Waršawa: University of Finance and Management in Warsaw, 11(3), pp. 327-341.
34. Babkova Je.G., Panahov A.U (2018). Rejtingovaja ocenka sbalansirovannogo razvitija regionov Central'nogo federal'nogo okruga.// Nauchnyj zhurnal NIU ITMO. Serija Jekonomika i jekologicheskij menedzhment № 2, c. 19-27. https://openbooks.itmo.ru/read_economics/17887/17887.pdf [In Russian]
35. Davydenko N., Pasichnyk Y. (2017). Features of socio-economic development of the Baltic states and Ukraine. Baltic Journal of Economic Studies, 3(5), pp. 97-102. https://doi.org/10.30525/2256-0742/2017-3-5-97-102
36. Yoji Koyama. (2020). Political Economy of the Baltic States. Historical Studies of Socialist System, No.16. https://www.researchgate.net/publication/351782800_Political_Economy_of_the_Baltic_States
37. Lonska J., Komarova V. (2019). Comparative analysis of the subjective well-being of the Baltic countries’ inhabitants in the context of economic development. Society. Integration. Education. Proceedings of the International Scientific Conference, 6, pp. 334-350. https://journals.ru.lv/index.php/SIE/issue/view/108/438
38. Masso J., Espenberg K., Masso A., Mierina I., Philips K. (2012). Country Report for the Baltic States Estonia, Latvia, Lithuania. GINI Country Report Baltics, 160 p. https://gini-research.org/wp-content/uploads/2021/03/Baltics.pdf
39. Krasnopjorovs O. (2021). How can Latvia catch up with Estonia and Lithuania? Macroeconomics. https://www.macroeconomics.lv/raksti/how-can-latvia-catch-estonia-and-lithuania
40. Giorgino T (2009). “Computing and Visualizing Dynamic Time Warping Alignments in R: The dtw Package.” _Journal of Statistical Software_, *31*(7), 1-24. doi:10.18637/jss.v031.i07