Low Competitive Economy Functioning in the Integrated Economic Space

Nikolajus Markevičius

Abstract


Lithuania (as well as other “new” countries) on becoming a EU member found itself economically integrated with the countries whose economic potential was incomparably higher. At the same time Lithuania has already lost traditional, protectionist and defensive instruments of economic sovereignty. Therefore, the accession to EU not only has created new economic possibilities but also has generated complex problems concerning the protection of the economic safety. In the new global world market many traditional branches in Lithuania proved to be uncompetitive. This challenged the very basis of Lithuanian economy. The country met a difficult task to obtain a new position, and to survive in the space dominated by other economies. The country had to find its new place to become competitive. The review of economic theories dealing with the post-Soviet countries entering the EU shows that currently there exists no single theoretical ground for providing a consistent approach to economic problems encountered by Lithuania. The present paper in a certain measure attempts to bridge this gap. On the basis of the analysis of modern theories of the international integration the economic policy of low competitive states, the possibilities of economic integration with incomparably stronger economies, and the opportunities to protect national economy from destructive influence of unequal competitive struggle are discussed.

Keywords


low competitive economy; economic integration and safety; integrated economic space

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"Societal studies" ISSN online 2029-2244 / ISSN print 2029-2236