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Republic of Lithuania - Selected Issues Paper (Electronic book text)
Republic of Lithuania - Selected Issues Paper (Electronic book text): International Monetary International Monetary Fund

Republic of Lithuania - Selected Issues Paper (Electronic book text)

International Monetary International Monetary Fund

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1. The economy grew rapidly over the past decade but the surge in capital inflows post-EU accession generated significant risks that have now materialized. Between 1998 and 2008, real per capita incomes rose from about 40 percent to two-thirds of the EU average reflecting the rebound from the 1998 crisis and rapidly rising productivity (Figure 1). However, the capital inflows that followed EU accession were mostly channeled to the non-tradable sector, stoking an asset and consumption boom that had its counterpart in growing external indebtedness (Figure 2). Rapid wage growth began to erode competitiveness while loose fiscal policy added to demand pressures (Figure 3).

General

Imprint: Not Avail
Country of origin: United States
Release date: November 2011
Authors: International Monetary International Monetary Fund
Format: Electronic book text
Pages: 40
ISBN-13: 978-6613880734
Categories: Books
LSN: 6613880736
Barcode: 9786613880734

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