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Purchasing power and value of the average wage in the Baltic States
Type of publication
Straipsnis kitoje duomenų bazėje / Article in other database (S4)
Title
Purchasing power and value of the average wage in the Baltic States
Publisher (trusted)
Mykolo Romerio universitetas |
Date Issued
2014
Extent
p. 34-51
Is part of
Intelektinė ekonomika : mokslo darbų žurnalas = Intellectual economics : scientific reserch journal / Mykolo Romerio universitetas, Lietuvos mokslų akademija, Vroclavo universitetas. Vilnius : Mykolo Romerio universitetas, 2014, t. 8, Nr. 2(20).
Field of Science
Abstract
Before the financial crisis, the Baltic States had the highest growth rate of the Gross domestic product (hereinafter – GDP) in the European Union. Also, these States were called “the Baltic tigers”. During the crisis, the decline of GDP was the highest in the Baltic States. After the crisis, economic indicators of Estonia economy had the highest growth rates in the European Union. Such progress and life quality in Estonia surprises the other two neighboring Baltic States – Latvia and Lithuania. However, GDP of Lithuania exceeds the GDP indicator of Estonia almost twice in absolute value (Eurostat). Since October 1, 2014, the minimum monthly wage in Lithuania increased by 3.5 percent. Based on information provided by the European Union Statistics (hereinafter – Eurostat), from 2004, the average wage in the Baltic States on average increased by 8.2, 10.3, and 7.7 percent per annum. It should be emphasized that the growth rate of the average wage in monetary expression significantly fell behind the actual decline rate of the wage purchasing power. During the period of 2004-2013, the purchasing power and value of the average wage in the Baltic States has decreased in respectively assessing by the standard coefficient of inflation and the “Gold Standard”.
Is Referenced by
Type of document
type::text::journal::journal article::research article
ISSN (of the container)
1822-8011
eLABa
8631842
Coverage Spatial
Lietuva / Lithuania (LT)
Language
Anglų / English (en)
Bibliographic Details
30
Access Rights
Atviroji prieiga / Open Access