Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom-partly financed on a loose credit policy-has recently created a fragile economic situation due to soaring wages, doubledigit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the "Baltic Bubble" is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three coun-tries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom-partly financed on a loose credit policy-has recently created a fragile economic situation due to soaring wages, doubledigit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the "Baltic Bubble" is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three coun-tries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
The concept of Corporate Social Responsibility (CSR) has been controversially discussed for over ... more The concept of Corporate Social Responsibility (CSR) has been controversially discussed for over 50 years. Consequently, a wide variety of definitions and understandings of CSR have been developed throughout the decades. That has made it increasingly hard, or not to say impossible, to agree on a common perception of CSR. Concerning the various notions of CSR, four core controversies can be identified which revolve around certain elements of CSR: First of all, there is the underlying question if CSR is the business of business or if it is none of its business as Friedman has famously argued. Second, should CSR contain legal obligations or is it a purely voluntary concept and, thus, ethical in nature? Strongly connected to that is the third controversy on whether CSR should be self-serving or if it has to be purely altruistic. Finally, there is widespread disagreement on the scope of CSR. Does it have a local, community-oriented focus or should it address concerns of a wider geographical scope? These controversies are analyzed and discussed here with the aim of developing a definition of CSR that does not remain confined to the academic world.
Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom—partly financed on a loose credit policy—has recently created a fragile economic situation due to soaring wages, double-digit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the “Baltic Bubble” is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three countries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom-partly financed on a loose credit policy-has recently created a fragile economic situation due to soaring wages, doubledigit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the "Baltic Bubble" is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three coun-tries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom-partly financed on a loose credit policy-has recently created a fragile economic situation due to soaring wages, doubledigit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the "Baltic Bubble" is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three coun-tries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
The concept of Corporate Social Responsibility (CSR) has been controversially discussed for over ... more The concept of Corporate Social Responsibility (CSR) has been controversially discussed for over 50 years. Consequently, a wide variety of definitions and understandings of CSR have been developed throughout the decades. That has made it increasingly hard, or not to say impossible, to agree on a common perception of CSR. Concerning the various notions of CSR, four core controversies can be identified which revolve around certain elements of CSR: First of all, there is the underlying question if CSR is the business of business or if it is none of its business as Friedman has famously argued. Second, should CSR contain legal obligations or is it a purely voluntary concept and, thus, ethical in nature? Strongly connected to that is the third controversy on whether CSR should be self-serving or if it has to be purely altruistic. Finally, there is widespread disagreement on the scope of CSR. Does it have a local, community-oriented focus or should it address concerns of a wider geographical scope? These controversies are analyzed and discussed here with the aim of developing a definition of CSR that does not remain confined to the academic world.
Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedent... more Since the late 1990s, the economies of Estonia, Latvia and Lithuania have experienced unprecedented economic growth, which has attracted a large number of foreign investors. American companies were among the first to seek business opportunities and have invested over $1 billion in the three countries as of 2008. However, the boom—partly financed on a loose credit policy—has recently created a fragile economic situation due to soaring wages, double-digit inflation, and high current account deficits. The resulting economic deceleration in the first half of 2008 has led analysts to comment that the “Baltic Bubble” is about to burst, potentially leading to a long-term recession. Other experts, nevertheless, maintain that the three countries are only experiencing a natural consolidation, which does not seriously endanger business opportunities in the long run. The purpose of this paper is to analyze the current condition of the Baltic economies and the environment for businesses there in order to determine if the three countries will still be attractive destinations for foreign direct investment (FDI) in the future.
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Papers by Matthias Fifka