Sustainable economic growth: Baltic countries in the context of European Union

Abstract

The paper aims to analyse sustainable development indicators taken from the Eurostat database and to determine a rational relationship between the sustainable development indicators and the economic growth of the country. The suggested hypothesis implies that the process of the country's development differs depending on the stage of the development. In order to establish the relationship between the sustainable development and the economic growth, the correlation analysis was used. Lithuania, Latvia and Estonia were taken as the research objects and the results obtained were compared with those describing the developed countries (Austria. Belgium, Denmark, Netherlands, France, Germany). The results obtained outline the main economic trends as well us determining their variation depending on the development stage of the country.