Banking Sector of Baltic Countries

DOI: 10.20542/0131-2227-2012-10-62-68

V. Olenchenko, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation (

Abstract. The author states that Baltic banking sector is notable for its heterogeneity. Under conditions of global financial and economic crisis of 2008–2010 and the problems in the Eurozone this became a factor that is aggravating the crisis processes. In particular, a conclusion is drawn that the situation in Baltic banking sector developed and continues to develop under two scenarios. One is realized by the capital from Nordic countries which dominates in the Baltic region. Other participants of banking sector adhere to another one. Scenarios differ by the objects in view and means used. Generally, a tendency of stagnation of Baltic bank sector’s activity is marked.

Keywords: Baltic region, banking sector, crisis, Nordic capital, Swedish banks, financial market

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For citation:
Olenchenko V. Banking Sector of Baltic Countries. World Eonomy and International Relations, 2012, no. 10, pp. 62-68.

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