How Latvia Came through the Financial Crisis

Co-written by Dombrovskis, the Prime Minister of Latvia, and slund, a senior fellow with the Petersen Institute for International Economy, this work reports on how Latvia responded to the financial and economic crisis of 2008-2010, suggesting that the Latvian response, "internal devaluation" through severe cuts in wages and public expenditures, provides key lessons for other countries seeking to a find ways out of crisis. The authors describe pre- and post-crisis policies, Dombrovskis describes the policy making decision process, and the authors evaluate policy results, which they largely deem positive, as growth has returned and serious social unrest was avoided. Annotation 2011 Book News, Inc., Portland, OR (booknews.com)