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Fiscal Stress Management During the Financial and Economic Crisis: The Case of the Baltic Countries

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  • Ringa Raudla
  • Rainer Kattel

Abstract

The Baltic countries—Estonia, Latvia, and Lithuania—were severely hit by the global financial and economic crisis in 2008–2011. In response to the crisis, all three states chose to undertake extensive fiscal consolidations. This article examines the strategies adopted by the Baltic governments for managing fiscal stress and consolidating their budgets in the light of the existing literature on cutback budgeting. In all three countries, the governments combined expenditure and revenue measures, with a larger share of adjustment taking place on the expenditure side. Among expenditure measures, a mix of across-the-board and targeted cuts was adopted, though the importance of targeted cuts increased over time. The case studies also indicate that although the theoretical propositions of the cutback budgeting literature point to the correct directions overall, further refinement is needed in several theoretical issues.

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  • Ringa Raudla & Rainer Kattel, 2013. "Fiscal Stress Management During the Financial and Economic Crisis: The Case of the Baltic Countries," International Journal of Public Administration, Taylor & Francis Journals, vol. 36(10), pages 732-742.
    • Handle: RePEc:taf:lpadxx:v:36:y:2013:i:10:p:732-742
    DOI: 10.1080/01900692.2013.794428
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    Cited by:

    1. Crispian Fuller, 2017. "City government in an age of austerity: Discursive institutions and critique," Environment and Planning A, , vol. 49(4), pages 745-766, April.
    2. K. B. Usha, 2014. "Social Consequences of Neoliberal Economic Crisis and Austerity Policy in the Baltic States," International Studies, , vol. 51(1-4), pages 72-100, January.
    3. Čekanavičius Linas, 2018. "On the Choice of Fiscal Adjustment to Financial Crises: Expansionary vs. Contractionary Policies," Ekonomika (Economics), Sciendo, vol. 97(2), pages 7-17, December.
    4. Ringa Raudla & Riin Savi, 2015. "The use of performance information in cutback budgeting," Public Money & Management, Taylor & Francis Journals, vol. 35(6), pages 409-416, November.

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