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Vol.1 , No. 5, Publication Date: Dec. 19, 2014, Page: 67-74
| [1] | Gediminas Davulis, Vilnius University of Applied Sciences, Faculty of Business Management, Vilnius, Lithuania. |
The article deals with the economic situation and the state economic policy in Lithuania before and during the crisis. The problem, considered in the article, is how the global crisis impacts the economy of Lithuania and how to assess the economics policy of Lithuanian governments before and during the crisis. The objectives of the article are the dynamics of macroeconomic processes in Lithuania and other Baltic countries in the period under consideration, the measures of anti crisis policy of Lithuanian governments in comparison with Latvia and Estonia. The research method, used in the article, is a systematic analysis of scientific literature, of legal acts, and statistical data. The macroeconomic situation of Lithuania before and in the period of crisis is analyzed using statistic data of Lithuanian Department of Statistics. The consideration of the economic policy of Lithuanian governments has showed that it did not distinguish itself in economic foresight and the measures of such a policy were not deliberate enough, unbalanced, thus causing additional economic and social problems. The comparative analysis of macroeconomic situation in the Baltic countries has showed that economic processes were similar without essential differences in all Baltic countries with exception the spheres of public finances where Estonia had an obvious advantage in comparison with Lithuania and Latvia. Such investigation can be useful for the purpose of avoiding the errors of the economic policy in future.
Keywords
Anti-Crisis Measures, Economic Policy, Global Finance Crisis, Macroeconomic Processes
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