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JCR Category: Business in ESCI edition

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2023) 1.2 Q4
Journal Citation IndicatorTM (2023) 0.33 Q3
Received: 2024-09-15  |  Accepted: 2025-01-20  |  Published: 2025-03-30

Title

Managing financial threats in the context of social resilience: a case of the Baltic States


Abstract

Since regaining independence from the Soviet Union, the Baltic States have faced many challenges and threats, such as financial instability, energy dependence, high levels of emigration, and, more recently, illegal immigration from third countries, encouraged by Belarus, the war between Ukraine and Russia, etc. The dynamic nature of socioeconomic situations, especially during crises such as pandemics and natural disasters, thus affects a country's resilience. The paper aims to estimate indices for social and financial resilience. The paper employs expert assessment, SAW, and correlation methods. The research focuses on filling in the resilience theory gap while focusing on financial and social issues. It has been noted that scientific literature lacks financial and social resilience integration. The research provided an alternative measurement of financial and social resilience. The results showed that financial resilience has been more unstable than social resilience. The decline in financial resilience contributes to external shocks such as the Russian–Ukrainian war and the COVID pandemic. Both financial and social resilience have declined during the period of 2020-2021. Hence, there is no correlation between financial and social resilience in the Baltic States.


Keywords

financial security, financial security challenges, threats to national financial security, international financial security, Baltic States


JEL classifications

F52 , G31


URI

http://jssidoi.org/jesi/article/1288


DOI


Pages

216-227


Funding

This research was funded by the project "Strengthening the R&D activities of the Vytautas Kavolis Transdisciplinary Institute for Social Sciences and Humanities (SOCMTEP)". The project is funded by the Research Council of Lithuania and the Ministry of Education, Science and Sport of the Republic of Lithuania, Contract No S-A-UEI-23-13 (2023-12-27).

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Ševčenko-Kozlovska, Galina
Vilnius Gediminas Technical University (VILNIUS TECH), Vilnius, Lithuania https://vilniustech.lt
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Šimelytė, Agnė
Vilnius Gediminas Technical University (VILNIUS TECH), Vilnius, Lithuania https://vilniustech.lt
Articles by this author in: CrossRef |  Google Scholar

Vveinhardt, Jolita
Vytautas Magnus University, Kaunas, Lithuania http://www.vdu.lt
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

12


Number

3


Issue date

March 2025


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 268  |  PDF downloads: 179

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