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The Baltic States

In: Foreign Investment in Russia and Other Soviet Successor States

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  • Philip Hanson

Abstract

The economies of the former Soviet republics are all, in early 1993, in a mess. Officially-recorded total output in 1992 was around a third less than in 1989. Inflation across most of the former Soviet Union was being reported at the end of the year at around 30 per cent a month (2230 per cent at an annual rate). The commercial legal framework in most of the successor states is weak, or poorly implemented, or both. The machinery of state was working poorly, and the durability of several of the governments was in doubt. In this situation, the Baltic States appeared in early 1993 to foreign investors to be points of light — albeit small and flickering — in the darkness.

Suggested Citation

  • Philip Hanson, 1996. "The Baltic States," Palgrave Macmillan Books, in: Patrick Artisien-Maksimenko & Yuri Adjubei (ed.), Foreign Investment in Russia and Other Soviet Successor States, chapter 9, pages 232-254, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24892-6_9
    DOI: 10.1007/978-1-349-24892-6_9
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