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Olsson, M., Nakamura, R. & Lönnborg, M. (2017). Building the Baltic Sea Region through investment and trade, 1989-2009. Huddinge: Södertörns högskola
Open this publication in new window or tab >>Building the Baltic Sea Region through investment and trade, 1989-2009
2017 (English)Report (Other academic)
Abstract [en]

Some twenty years after the fall of the communist dictatorships that divided the European continent the European Union in late 2009 adopted its first ever macroregional strategy – the European Union Strategy for the Baltic Sea Region. The strategy was a symbolic second milestone with regard to the political endeavours to reintegrate the continent; the first being the 2004 enlargement. Having transformed the Baltic Sea from a Mare Dividum to a European Mare Nostrum is indeed also a sign of the success of such integrative political processes. However, at the same time the perceived need for a specific strategy in order to further and deepen the integration and reduce the economic gaps within the European Union gives an indication that there is more to be wished for with regard to this region.

It has been suggested that regionalism is defined “as an economic process whereby economic flows grow more rapidly among a given group of states [in the same region] than between these states and those located elsewhere”. In this paper we thus approach the economic underpinnings for the Baltic Sea Region by analysing the developments with regard to investment and trade flows during the last twenty years.

We ask ourselves whether these developments are in congruence with the notion of the building of one integrated region and whether it makes economic sense to talk about a Baltic Sea Region? For example, to what extent have the developments with regard to foreign direct investments proved sustainable? What sectors are leading the way and which are lagging? What divisions remain to be tackled? These are some of the questions that this paper attempts to address based upon a thorough analysis of the existing sources with regard to trade and investment flows.

Place, publisher, year, edition, pages
Huddinge: Södertörns högskola, 2017. p. 53
PESO Working Papers ; 2017:1
Economic integration, region building, Baltic Sea Region; trade flows, foreign direct investment, European Union Strategy for the Baltic Sea Region, economic transition
National Category
Business Administration
urn:nbn:se:sh:diva-32022 (URN)
Available from: 2017-03-10 Created: 2017-03-10 Last updated: 2018-11-07Bibliographically approved
Nakamura, R., Olsson, M. & Lönnborg, M. (2012). FDI in the post-EU accession Baltic Sea Region: A global or a regional concern?. Baltic Journal of Economics, 12(2), 89-108
Open this publication in new window or tab >>FDI in the post-EU accession Baltic Sea Region: A global or a regional concern?
2012 (English)In: Baltic Journal of Economics, ISSN 1406-099X, Vol. 12, no 2, p. 89-108Article in journal (Refereed) Published
Abstract [en]

This paper investigates the dynamics of FDIs in the Baltic Sea Region (BSR) by applying the Poisson Pseudo-Maximum Likelihood estimation method on a gravity model. In particular, we analyze the influence of macro and spatial factors on investment stock changes and discuss whether the origin of these investments and the 2004 EU enlargement have had any effects on BSR FDIs.

Our results suggest that EU enlargement has been significant for FDI activity in the region, and that FDI is basically a regional issue as it tends to be bilateral within the region. However, the same results also suggest that geographic distance is not a significant factor. We conclude that while being traditional in nature, the BSR FDI pattern is undergoing changes towards a lesser degree of geographic bias.

Place, publisher, year, edition, pages
Riga: BICEPS, 2012
Baltic Sea Region, FDI, Trade, Gravity Model, Poisson Pseudo-Maximum Likelihood method
National Category
Research subject
Baltic and East European studies
urn:nbn:se:sh:diva-18150 (URN)10.1080/1406099X.2012.10840519 (DOI)000314618900006 ()2-s2.0-84874285970 (Scopus ID)1303/42/2009 (Local ID)1303/42/2009 (Archive number)1303/42/2009 (OAI)
Markets & Regions
The Foundation for Baltic and East European Studies, 32000
Available from: 2013-01-25 Created: 2013-01-25 Last updated: 2018-12-17Bibliographically approved

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