The Baltic Sea Region at the top of Europe

Gdansk-26 Oct, 2011. The Baltic Sea Region has come out of the first phase of the global economic and financial crisis better than most of its peers according to the "State of Region Report 2011"

Christian Ketels: "The region will not be able to escape the fall-out from the second part of the crisis, with its focus shifting to sovereign debt"

Harbour at Gdansk

This year’s State of the Region Report, edited once again by Christian Ketels, Harvard, Principal Associate, Harvard Business School, in cooperation with prof.s Gunnar Eliasson and Pontus Braunerhjelm, Stockholm is focused on the general economic situation, competitiveness, collaboration patterns, and entrepreneurship. The presentation took pat in Gdansk where the Baltic Sea Development Forum was held.

“The collapse of world trade hit the mainly small open economies of the Region particularly hard”, the Report says, “But their solid financial markets and macroeconomic policies also helped them to stage an impressive recovery”.

This, according to prof. Christian Ketels, from Harvard Business School, still places the Baltic Sea Region “at the top of Europe”. Many parts of the Region are among the global leaders in areas such as institutional quality, company sophistication, skills and innovative capacity, infrastructure, demand sophistication, and the openness of markets.

However, the Baltic Sea Region will not be able to escape the fall-out from the second part of the crisis, with its focus shifting to sovereign debt. ”Low growth in key markets, difficulty to access capital on globally connected financial markets, and rapid shifts in currency and equity markets will reduce growth in the Baltic Sea Region.

see video of presentation

This news was published by Baltic Development Forum Summit web [www.bsr2011.eu] 26 October, 2011

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Christian Ketels: "The region will not be able to escape the fall-out from the second part of the crisis, with its focus shifting to sovereign debt"