Lithuania: the transition to a market economy

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Lithuania Economy Profile 2018

Mother's mean age at first birth:. Maternal mortality rate:. Infant mortality rate:. Life expectancy at birth:.

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Total fertility rate:. Drinking water source:. Current Health Expenditure:. Physicians density:. Hospital bed density:. Sanitation facility access:.

Economy of Lithuania

Private ownership seems to matter in the long run. In combination with the usual disruption stemming from the radical privatization and other transformation measures, this resulted in a drop in measured output. Participate Latest Results Learn More. Government type:. Education expenditures:. From Prague to Vladivostok, twenty-eight countries in the former Soviet Union and Eastern Europe abandoned similar political and economic systems. Similarly, central banks had to be reinforced and had to tighten monetary controls and eliminate subsidized credits.

Major infectious diseases:. Obesity - adult prevalence rate:. Education expenditures:. School life expectancy primary to tertiary education :. Unemployment, youth ages Government :: Lithuania. Country name:. Government type:. Administrative divisions:. National holiday:. Independence Day or National Day , 16 February ; note - 16 February was the date Lithuania established its statehood and its concomitant independence from Soviet Russia and Germany; 11 March was the date it declared the restoration of Lithuanian statehood and its concomitant independence from the Soviet Union.

Differing Programs of Economic Transformation

Legal system:. International law organization participation:. Executive branch:. Legislative branch:. Judicial branch:. Political parties and leaders:. International organization participation:.

Diplomatic representation in the US:. FAX: [1] Diplomatic representation from the US:. FAX: [] 5 Flag description:. National symbol s :. National anthem:. Economy :: Lithuania.

Economics of Transition and Emerging Markets: Attempts to reform CPE #3

Economy - overview:. GDP purchasing power parity :. GDP official exchange rate :. GDP - real growth rate:.

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Gross national saving:. GDP - composition, by end use:. GDP - composition, by sector of origin:. Agriculture - products:.

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Industrial production growth rate:. Labor force:. Labor force - by occupation:. Unemployment rate:. Population below poverty line:. Household income or consumption by percentage share:. Distribution of family income - Gini index:. Taxes and other revenues:. I hoped to analyze the transition of the Lithuanian economy from a centrally-planned communist economy to a free-market and entrepreneurially-driven economy.

Lithuania is steeped in history, culture and geopolitical importance. Over the centuries, Lithuania has been invaded and succumbed to military conquests from Prussia, Germany, the Nazis and the Soviet Union. It seems to be in a hurry to make up for the lost time it spent as a member of the Soviet bloc. It wants to sprint to a western-style economy in weeks instead of years.

Lithuania appears to be economically ambitious but politically fragile. I received different answers depending on the age of the responder. Seniors said they were better off during the Soviet occupation, within a communist economic system. Implementing the transition to a free market economy implies many good economic policies. However, poor governmental practices will cause back-sliding if no measures are taken to ensure effective policy implementation.

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