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  1. 2 Humanities and Social Sciences: Latvia

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  1. 2 Curkina I.

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  1. 2 2009

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1

LATVIA'S ECONOMY IN THE POST-TRANSITION PERIOD: FROM OVERHEATING TO RECESSION

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Curkina I.
Humanities and Social Sciences: Latvia
|
2009
|
issue 1(58)
30-41
EN
Almost two decades have passed since Latvia made the transition from a command economy model. Latvia has become a natural member of the global economy, and as such it must reckon with external impact on its economic, social and cultural spheres. The aim of this paper is to outline the changes which have taken place in conditions of economic development and their impact on subsequent development. The paper analyses general growth trends in Latvia since 1990, signs of economic overheating in Latvia after joining the EU, impact of global financial stress on Latvia and some other countries, and seeks answer to the question - Does Latvia have growth potential?
2

IS THE DEVELOPMENT OF THE GLOBAL ECONOMY AFFECTED BY A KNOWLEDGE-BASED ECONOMY?

100%
Curkina I.
Humanities and Social Sciences: Latvia
|
2009
|
vol. 17
|
issue 2
237-249
EN
A knowledge-based, or 'new', economy is now regarded as a universal remedy for ensuring effective development and increasing welfare levels. A knowledge-based economy focuses on human knowledge, creativity and the ability to realise these ideas in production processes, in other words, on human capital. The objective of the article is to highlight the genesis of a knowledge-based economy in the history of developed countries and to define the spheres that are considered the main driving forces in these 'new economy' countries. The article presents an analysis of the distinctive features of modern economic cycles, the impact of housing and food price increases on consumer prices and on country development, as well as growth trends in global financial markets in the first half of 2007. The authoress concludes that in terms of general growth, the impact of knowledge-based products and services cannot be denied; however there is no reason for regarding products with high added value as the sole development guarantee of all global members. The 'new' economy just supplements the 'old' one - this trend in the global economy has lasted for centuries; historically, innovative ideas are extremely rare - usually products are merely improved, not created completely anew.
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