Download or read book Baltic Cluster Report written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2014-05-08 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper focuses on the Baltic model, Baltic–Nordic links, and convergence. The Baltic countries form a distinct group within a tightly integrated Nordic–Baltic region. They are following similar approaches to economic policy, broadly in line with those of Northern European and the Anglo-Saxon countries. Their macroeconomic policies are generally robust. The paper examines the possible causes of the creditless recoveries in the Baltic countries. It characterizes their experience in comparison with other episodes of creditless recoveries in both advanced and emerging market economies, and also investigates demand and supply constraints to credit expansion in the Baltics.