LATENT STRUCTURES AND RECOVERY PATHS: A COMPARATIVE STUDY OF BALTIC SOCIO-ECONOMIC TRENDS
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Abstract
This study investigates the post-COVID socio-economic recovery of the Baltic States – Estonia, Latvia, and Lithuania – through the lens of Principal Component Analysis (PCA). Using standardized data from 2019 to 2023, PCA is employed to extract latent dimensions underlying key economic and social indicators. The analysis reveals distinct structural profiles across the three countries, highlighting differences in resilience, adaptability, and policy effectiveness. Estonia demonstrates consistent macroeconomic stability and institutional strength, Lithuania shows dynamic but uneven growth, while Latvia exhibits gradual recovery marked by short-term volatility. By reducing multidimensional data into interpretable components, PCA enables a nuanced comparison of recovery trajectories and offers insights into the structural factors shaping regional development. The findings contribute to the understanding of post-crisis adjustment in small open economies and inform future policy design within the EU context.
How to Cite
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Baltic States, post-COVID recovery, post-crisis development, economic policy, socioeconomic indicators, Principal Component Analysis (PCA)
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