Š eimikienė, Dalia
A icle
Assessmen o g een g ow h in he Bal ic S a es
Con empo a y Economics
P o ided in Coope a ion wi h:
VIZJA Uni e si y, Wa saw
Sugges ed Ci a ion: Š eimikienė, Dalia (2024) : Assessmen o g een g ow h in he Bal ic S a es,
Con empo a y Economics, ISSN 2300-8814, Uni e si y o Economics and Human Sciences in
Wa saw, Wa saw, Vol. 18, Iss. 1, pp. 87-100,
h ps://doi.o g/10.5709/ce.1897-9254.527
This Ve sion is a ailable a :
h ps://hdl.handle.ne /10419/297649
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EU G een Deal and US G een New Deal s a egies indica e ha g een g ow h is a he cen e o he policy
agendas o many de eloped coun ies and egions. The g een g ow h is a key elemen in achie ing sus ain-
able de elopmen . G een g ow h is an economic g ow h s a egy ha p io i izes human de elopmen while
gua an eeing ha na u al esou ces con inue o p o ide en i onmen al se ices o he cu en and u u e
gene a ions o achie e hei sus ainable de elopmen . The e a e many de ini ions o g een g ow h, and many
indica o s and measu es ha e been de eloped o assess g een g ow h esul s o coun ies. The pape aims
o analyze g een g ow h indica o s and measu es and de elop a case o a compa a i e assessmen o g een
g ow h achie emen s in he Bal ic S a es. The Bal ic S a es we e anked based on hei achie emen s acco d-
ing o speci ic dimensions o g een g ow h, and policy ecommenda ions o p omo e g een g ow h we e
de eloped based on conduc ed esea ch.
1. In oduc ion1. In oduc ion
G een g ow h is a e m used o desc ibe a way
o achie ing economic g ow h while p ese ing he
en i onmen h ough he sus ainable use o na u al
esou ces. This concep has gained mo e impo -
ance in ecen yea s as poli icians ad oca e o pol-
icies ha p io i ize he p o ec ion o he en i on-
men alongside economic de elopmen and g ow h
(Baghe i e al., 2018). In ecen imes, he impo -
ance o p omo ing sus ainable and en i onmen-
ally iendly economic g ow h has signi ican ly in-
c eased. The e o e, i is c ucial o policymake s o
de elop policies and measu es o balance economic
g ow h and en i onmen al p o ec ion.
The UN Global G een New Deal (Ba bie , 2009)
calls on go e nmen s o alloca e a signi ican sha e
o s imulus unding o g een sec o s. I s main ob-
jec i es include economic eco e y, e adica ion o
po e y, and educed ca bon emissions and ecosys-
em deg ada ion. The main aim is o os e sus ain-
able de elopmen goals.
The Eu opean G een Deal se s he bluep in o
he g een g ow h o he EU. G een g ow h should
bene i EU membe s a es, om c ea ing new op-
po uni ies o inno a ion, in es men , and g een
jobs o imp o ing ou heal h and well-being. US
G een New Deal calls o s a e policies o deal wi h
clima e change and accomplish o he social and
economic goals such as new high-quali y job c e-
a ion, inc easing equali y be ween people, educing
po e y and exclusion, and ensu ing s able eco-
nomic g ow h in he US.
Coun ies ha ag ee o wo k oge he on g een
g ow h need o es ablish sha ed goals, moni o
p og ess, and ake measu es o achie e hem.
The e is plen i ul li e a u e on g een g ow h (Ca-
passo e al., 2019; Fe ei a e al., 2023; He man e
al., 2023; Pan e al., 2020; Saleem e al., 2022; Tawi-
ah e al., 2019; Zhao e al., 2022). Mos o he s ud-
Assessmen o G een G ow h in he Bal ic S a es
ABSTRACT
P18, Q01, Q32, Q58.
KEY WORDS:
JEL Classi ica ion:
g een g ow h, indica o s, assessmen , anking, Bal ic S a es.
Mykolas Rome is Uni e si y, Facul y o Public Go e nance and Business, Vilnius, Li huania
Co espondence conce ning his a icle should be add essed o:
Dalia S eimikiene,
Mykolas Rome is Uni e si y, Facul y o
Public Go e nance and Business, Vilnius, Li huania.
E-mail: [email p o ec ed]
Dalia S eimikiene
P ima y submission: 17.07.2019 | Final accep ance: 20.07.2022
88
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Vol. 18 Issue 1 87-1002024
ies analyzed measu es o g een g ow h and ied
o p o ide he backg ound o he bes indica o s
and amewo ks o moni o and compa e he ad-
ancemen o coun ies owa d g een g ow h and
sus ainable de elopmen (Bi gani & Moghaddam,
2018; Diaz-Sa achaga e al., 2018; Guo e al., 2020;
Ka a ach e al., 2018; Koch & K ellenbe g, 208;
Kwa a e al., 2020).
I is impo an o s a e ha g een g ow h indi-
ces used in a ious s udies a e no ye s anda dized
(Zhao e al., 2022). The e o e, scien i ic knowledge
and unde s anding o g een g ow h and i s ou -
comes need o be u he de eloped (Šneide ienė
e al., 2020).
The mo e uni e sal g een g ow h indica o s
amewo k is necessa y o he analysis o g een
g ow h and sus ainable de elopmen p og ess
achie ed by coun ies
The main objec i e o his pape is he examina-
ion o g een g ow h and sus ainable de elopmen
indica o s, and amewo ks and he applica ion
o selec ed g een g ow h indica o s amewo k
o compa a i e analysis and assessmen o g een
g ow h esul s in he Bal ic S a es.
The es o he pape is s uc u ed in he ol-
lowing way: in Sec ion 2, he li e a u e e iew on
he opic is p o ided, in Sec ion 3, he analysis o
g een g ow h indica o s is pe o med, and he
g een g ow h indica o s amewo k is selec ed o
he case s udy; in Sec ion 4 he esul s o empi ical
applica ion o g een g ow h indica o s amewo k
o Bal ic S a es case s udy is discussed; in Sec ion 5
conclusions and policy ecommenda ions a e p o-
ided.
2. Li e a u e Re iew2. Li e a u e Re iew
Many cha ac e iza ions o g een g ow h can
be disco e ed in scien i ic li e a u e. One o
hem, which is e y popula and in oduced by
he O ganisa ion o Economic Co-ope a ion
and De elopmen (OECD): g een g ow h aims
o p omo e economic p og ession while also
p ese ing na u al esou ces ha p o ide essen ial
en i onmen al se ices suppo ing he well-
being o he wo ld popula ion. (O ganisa ion
o Economic Co-ope a ion and De elopmen
[OECD], 2011). The e o e, g een g ow h can
be ea ed as a main elemen o accomplishing
sus ainable de elopmen , i.e. pu suing economic
g ow h by p o ec ing he en i onmen (Capasso
e al., 2019). Ano he de ini ion o g een g ow h
is a decoupling concep , namely, educing he
en i onmen al impac associa ed wi h he g ow h
o GDP (Juknys e al., 2014). Absolu e decoupling is
a desi able end o g een, meaning ha he GDP
and na u al esou ce consump ion a iables become
independen o one ano he and a e, he e o e, ee
o go in opposi e di ec ions. An inc ease in GDP
could a ise a he same ime wi h a signi ican all
in esou ce consump ion o en i onmen al impac
(Bala di, 2014; Lo en e & Ál a ez-He anz, 2016).
S udies dealing wi h g een g ow h analyze
ba ie s and d i e s o g een g ow h. G een
echnological inno a ions a e conside ed o be
e y impo an d i e s o g een economic g ow h
and sus ainable de elopmen o he coun y (Kijek
& Kasz elan, 2013; Samad & Manzoo , 2015).
Also, s udies highligh ed he impo ance o skills,
knowledge, and human capi al de elopmen as
p econdi ions o g een g ow h (Calzone i e al.,
2012; Gibbs & O'Neill, 2014; Lopes, 2015; Saman,
2022).
Also, he e a e many s udies (Campasso e al.,
2019; Ellio & Clemen , 2015; de Medei os e al.,
2014) analyzing he ole o ma ke s in p omo ing
o hampe ing g een g ow h. These s udies can
be di ided in o h ee main a eas: assessmen and
in es iga ion o he quali y o a ious ma ke
elemen s, he in e ac ion be ween policy and
ma ke s, and he a ailabili y o ma ke elemen s
p o iding o economic g eening.
The impo ance o a ailable esou ces in he
coun y among o he d i e s o g een g ow h
was highligh ed in se e al pape s (B e schge &
Smulde s, 2012; De Cian e al., 2016; Delibasic,
2022).
The quali y o ins i u ions was men ioned as an
impo an d i e o g een g ow h in a ew s udies
(Delibasic, 2022; Ellio , 2011; Lo ek & Spangenbe g,
2014; Sen, 2015).
The ole o policy as he main d i e o g een
g ow h was add essed in a numbe o s udies
D ake, 2013; Ka ka soulis e al., 2016; Li e al., 2016;
Musolesi & Mazzan i, 2014).
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Assessmen o G een G ow h in he Bal ic S a es
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Findings om he s udy (Tawiah e al., 2021)
showed ha economic de elopmen policies
leading o GDP g ow h a e among he mos
impo an elemen s o achie ing g een g ow h and
sus ainabili y goals o he coun ies.
The esea ch conduc ed by Saleem e al. (2020)
in es iga ed how g een g ow h in luenced a ious
aspec s such as he ise in popula ion income, he
apid adop ion o en i onmen al echnologies
and enewable ene gy, and he ou comes o
inancial de elopmen in 12 key Asian economies
spanning om 1990 o 2018. The s udy showed
he encou aging impac o g een g ow h on
en i onmen al quali y and o he impo an
economic and social indica o s.
The main challenges o g een g ow h, acco ding
o se e al s udies (Campasso e al., 2019; G illi sch
e al., 2019; La anja e al., 2008; Webe &
Roh ache , 2012), a e linked o he h ee ypes o
ailu es: ma ke s’ ailu es as well as s uc u al and
ans o ma ional sys ems’ ailu es.
An impo an scope o he con empo a y
li e a u e on policies os e ing g een economic
g ow h and sus ainable de elopmen (Binz e al.,
2017; Campasso e al., 2019; Flanagan e al., 2011;
Rogge & Reicha d , 2016;) highligh ed he need
o a combined comp ehensi e analysis o a ious
policies and measu es in he g een g ow h a ea o
de ine hei e iciency, e ec i eness, and e icacy.
This equi es a deepe in es iga ion o he
in e ac ion be ween a ious policies and measu es
and an analy ical pe spec i e, including de eloping
indica o s amewo ks o moni o ing p og ess
owa ds g een g ow h and sus ainable de elopmen
and assessing he impac o policies on g een
g ow h and sus ainable de elopmen p og ess.
3. Indica o s o Assessmen o G een 3. Indica o s o Assessmen o G een
G ow hG ow h
The ange o global indexes was de eloped o make
a compa ison o sus ainable de elopmen di ec ions
o speci ic coun ies. The indica o s o sus ainable
de elopmen a e conside ed analy ical ools and a e
discussed in many s udies. Vi o (2018) p o ided he
ini ial app aisal o a ious Sus ainable De elopmen
indica o s by highligh ing he a ionale o he SDGs,
concep ual backg ound, and analysis o undamen al
aspec s like unce ain y, i e e sibili y, and so on. A
s udy by Koch and K ellenbe g (2018) analyzed he
a ailable SDG egional indexes ha a ge ed ul ima e
goals. Diaz-Sa achaga e al. (2018) in es iga ed he
implemen a ion o Agenda 2030 o a ious coun ies
based on he composi e sus ainable de elopmen in-
dex (SDGI).
Kwa a e al. (2020) analyzed all a ailable SDG in-
dexes and ound abo e 95% simila i y be ween SDGs
c ea ed by applying a i icial neu al ne wo ks. The
c ea ion o all Sus ainable De elopmen Goals Indexes
(SDGIs) was es ablished in line wi h op-down me h-
odologies (Kwa a e al., 2020).
Oli e a e al. (2020) p oposed an in eg a ed Well-
being Global Index (WeGIx) comp ising o y- h ee
indica o s o measu ing he o e all p og ess owa d
a aining he SDGs. I aimed o e alua e he quali y o
li e om a global pe spec i e and o show he com-
pa a i e si ua ion o coun ies in p og ess owa d sus-
ainable de elopmen .
The e a e se e al indica o s and amewo ks de el-
oped o moni o g een g ow h by linking i wi h sus-
ainable de elopmen goals. Bi gani and Moghaddam
(2018) e alua ed he En i onmen al Sus ainabili y In-
dex (ESI), which encompasses 76 a iables combined
in o 21 indica o s o ecological sus ainabili y like en-
dowmen s o esou ces, he en i onmen al p o ec ion
quali y o he s a e, he capaci y o he s a e o imp o e
en i onmen al e iciency, pas and p esen pollu ion
le els a he coun y, and so on.
The En i onmen al Pe o mance Index (EPI) com-
p ises six een indica o s ha assess he p og ess o a
coun y owa d sus ainabili y by applying such indica-
o s as child mo ali y, ai pollu ion, access o ene gy
and d inking wa e , he sha e o enewables in ene gy
consump ion, he ene gy in ensi y o GDP; ca bon in-
ensi y o ene gy consump ion, he ca bon in ensi y o
GDP, and so on. (Pimonenko e al., 2018).
The Wo ld Bank has cons uc ed he G een Index o
measu e measu es he weal h o coun ies by using a
new sys em and assessing he p ice o p oduced asse s,
like he sum o all manu ac u ing machine y, ene gy
gene a ion plan s, ac o ies, oads, and o he in a-
s uc u e a ailable in he coun y (Guo e al., 2020).
The Global G een Economy Index (GGEI) assesses
he pe o mance o he coun y in e ms o sus ainabil-
i y. The GGEI p o ides da a o he assessmen o 160
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coun ies and applies eigh een indica o s o measu e
he p og ess o he coun y in e ms o he dynamics o
hese indica o s since 2005. Also, he dis ance o each
indica o om globally es ablished a ge s is add essed
i such a benchma k exis s o speci ic indica o s.
S a e o G een T ansi ion Index was de eloped as a
g aphical communica ion ins umen o inspi e deci-
sion-make s on all le els, as well as in e na ional
me-
dia, showing he na ional pe o mance o coun ies
in pu suing g een g ow h and p o iding he ank o
coun ies based on expe assessmen s (Ka a ach e
al., 2018).
The le el o sus ainable de elopmen o g een
g ow h achie emen s should be e alua ed in line
wi h he de eloped g een g ow h s a egy by ap-
plying ce ain c i e ia and indica o s. As o mos
indica o sys ems, he main weaknesses a e linked
wi h da a gaps; he G een G ow h Index was selec ed
o he compa a i e assessmen o Bal ic S a es. The
G een G ow h Index was de eloped by he Global
G een G ow h Ins i u e o e alua e he pe o mance
o coun ies in achie ing hei main goals o sus-
ainable de elopmen and g een g ow h including
he Sus ainable De elopmen Goals (SDGs), Pa is
Ag eemen , and Aichi Biodi e si y Ta ge s. GGGI
was c ea ed in 2012 a he Rio+20 Uni ed Na ions
Con e ence on Sus ainable De elopmen as an in-
e na ional in e go e nmen al body aiming o help
coun ies achie e hei sus ainable de elopmen
goals. I suppo s UN Membe s in ans o ming
hei economic g ow h in o a g een g ow h pa e n.
I p o ides comp ehensi e da a om 2015 o 2022 o
197 coun ies (Acos a e al., 2019).
The G een G ow h Index consis s o ou ela ed
dimensions: social inclusion, e icien and sus ain-
able esou ce use, na u al capi al p o ec ion, and
g een economic oppo uni ies. Thei in e ela ions
a e based on ans o ma ions o low ca bon en-
e gy and economy concep , p o ision o ecosys em
heal h, ensu ing inclusi e economic g ow h, and
building he esiliency o economy and socie y. The
G een G ow h Index is c ea ed by a s ep-by-s ep
me hod o cons uc ing he composi e indices. An
in eg a ed index in eg a es se e al indica o s in o
a single sco e, allowing he assessmen o p og ess
achie ed and moni o ing, compa ison, and anking
o coun ies acco ding o di e en dimensions and
c ea ing o benchma ks o such complex phenom-
ena like g een g ow h (Acos a e al., 2020).
In Table 1 he indica o s comp ising he g een de-
elopmen index and hei agg ega ion by ca ego ies
and dimensions a e gi en.
Table 1
Indica o s o G een G ow h
S anda dized indica o s Le el 1: ca ego ies Le el 2: dimensions Le el 3: index
Linea agg ega ion o
s anda dized indica o s
Geome ic agg ega-
ion o indica o s
ca ego ies
Geome ic ag-
g ega ion o
dimensions
EE: P ima y ene gy supply o GDP E icien and sus ainable use
o ene gy
E icien and sus ainable esou ce usage
G een G ow h index
EE2: Po ion o enewables o inal ene gy
EW1: Wa e use e iciency E icien and sus ainable use
o wa e EW2: Po ion o eshwa e wi hd awal o exis ing eshwa e
esou ces
SL1: Nu ien budge o he soil
Sus ainable use o landSL2: Po ion o o ganic ag icul u e used he land o o al a ea
o ag icul u al land
ME1: To al ma e ial consump ion pe GDP
Ma e ial use e iciencyME2: To al ma e ial oo p in pe inhabi an
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Assessmen o G een G ow h in he Bal ic S a es
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Table 1
Indica o s o G een G ow h (Con inued)
S anda dized indica o s Le el 1: ca ego ies Le el 2: dimensions Le el 3: index
Linea agg ega ion o
s anda dized indica o s
Geome ic agg ega-
ion o indica o s
ca ego ies
Geome ic ag-
g ega ion o
dimensions
EQ1: Mean annual popula ion-weigh ed exposu e o ai pollu ion
by PM2.5
Quali y o en i onmen
Na u al capi al p o ec ion
G een G ow h index
EQ2: DALY (disabili y-adjus ed li e yea ) a e due o unsa e wa e
sou ces
EQ3: Municipal solid was e gene a ion pe inhabi an
GE1: GHG emissions o he popula ion wi h GHG emissions Ag-
icul u e, Fo es y, and O he Land Use G eenhouse gas emission
educ ionGE2: GHG emissions o he popula ion wi hou GHG om Ag i-
cul u e, Fo es y, and O he Land Use
GE3: Non-CO2 emissions om ag icul u e o popula ion
BE1: A e age sha e o Key Biodi e si y A eas co e ed by p o ec ed
a eas Biodi e si y and ecosys em
p o ec ionBE2: P opo ion o o es land a ea o o al a ea
BE3: Abo e-g ound biomass s ock in o es
CV: Red lis index
Cul u al and social alueCV2: Tou ism and ec ea ion ac i i ies o coas al and ma ine a eas
CV3: P opo ion o e es ial and ma ine p o ec ed a eas o o al
a ea
GV1: Adjus ed ne sa ings, including pa icula e emission damage G een in es men
G een economic op-
po uni ies
GT: P opo ion en i onmen al goods expo in o al expo G een ade
GJ1: P opo ion o g een employmen in o al employmen o he
manu ac u ing sec o
G een employmen
GN1: P opo ion o pa en s in en i onmen al echnology in o al
pa en s
G een inno a ion
AB: Sa ely managed wa e and sani a ion access Access o basic se ices and
esou ces
Social inclusion
AB2: Elec ici y and clean echnology access
AB3: Fixed in e ne b oadband and mobile cellula subsc ip ions
GB1: Sea s held by women in pa liamen
Gende balanceGB2: Numbe o accoun s held a inancial ins i u ions
GB3: Laws and egula ions co e ing he igh o equal gende pay
SE1: Inequali y in income based on Palma a io
Social equi ySE2: Ra io o u ban- u al access o basic se ices
SE3: P opo ion o you h no in educa ion, employmen , o ain-
ing
SP1: P opo ion o popula ion abo e s a u o y pensionable age
ecei ing a pension Social p o ec ion
SP2: Uni e sal heal h co e age se ice index
SP3: Sha e o u ban popula ion li ing in slums
Sou ce: c ea ed by au ho s based on (Acos a e al., 2019; Global G een G ow h Ins i u e, 2023).
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Vol. 18 Issue 1 87-1002024
Figu e 1
G een G ow h Index o he Bal ic S a es Du ing he 2010-2022 Pe iod
The G een G ow h Index has sco es om 1 o 100,
wi h a sco e o 1 indica ing e y low pe o mance and
a sco e o 100 indica ing he highes pe o mance. The
indica o s a e compa ed o sus ainabili y a ge s, and
a sco e o 100 indica es ha a coun y has achie ed
a speci ic a ge . The sco es a e alloca ed in o speci ic
in e als and can be in e p e ed as ollows: a sco e o
80-100 means ha a coun y has achie ed o almos
achie ed he a ge . A sco e o 60-80 indica es ha
he coun y is aking a s a egic posi ion o ully each
i s a ge . A sco e o 40-60 is classi ied as a mode -
a e sco e, as he coun y is going o wa d and a oid-
ing mo ing away om he a ge . A sco e o 20-40
indica es he need o he coun y o de ine he igh
policies o mo e owa ds achie ing i s a ge . Finally,
a sco e o 1-20 is a e y low sco e. This low sco e indi-
ca es ha signi ican e o s a e necessa y o imp o e
he coun y's si ua ion o mo e owa ds he a ge
(Global G een G ow h Ins i u e, 2023).
4. Ranking o Bal ic S a es Based on 4. Ranking o Bal ic S a es Based on
G een G ow h Resul s G een G ow h Resul s
Resul s achie ed by he Bal ic S a es in g een
g ow h we e analyzed and compa ed du ing he
2010-2022 pe iod. The sco es o ou dimensions
o g een g ow h we e decomposed acco ding o
main ca ego ies o de ine he bes pe o ming and
lagging coun ies acco ding o a ious dimensions
and ca ego ies wi hin dimensions. The dynamics o
g een g ow h indexes o he Bal ic S a es a e com-
pa ed in Figu e 1.
As one can no ice om Figu e 1, since 2018, Es onia
has been he leading coun y in g een g ow h achie e-
men s among he Bal ic S a es, wi h some luc ua ion
in 2019. La ia los i s posi ion in 2017, and since hen,
i has been he wo s -pe o ming coun y in e ms o
g een g ow h among he Bal ic S a es. All coun ies
ha e sco es abo e 60 o e y high, meaning ha hey
a e aking a s a egic posi ion o comple ely each he
a ge .
In Figu e 2, he sco es acco ding o he social inclu-
sion dimension we e compa ed in Bal ic s a es du ing
he 2010-2022 pe iod.
One can no ice om he da a plo ed in Figu e 2 ha
du ing he en i e in es iga ed pe iod, Es onia was he
bes -pe o ming coun y acco ding o he social in-
clusion dimension o g een g ow h. A he same ime,
La ia and Li huania showed e y simila p og ess ac-
co ding o social inclusion in g een g ow h om 2010
o 2022, hough he pa h was qui e di e en . Li huania
showed almos con inuous g ow h in social inclusion
du ing he en i e pe iod, and La ia showed some luc-
ua ions anging om a sha p decline o a d ama ic in-
c ease. All coun ies showed e y high sco es, namely,
abo e 80, showing ha hey almos ha e eached he
a ge .
Sou ce: Global G een G ow h Ins i u e, 2023
www.ce. izja.pl
93
Assessmen o G een G ow h in he Bal ic S a es
This wo k is licensed unde a C ea i e Commons A ibu ion 4.0 In e na ional License.
In Figu e 3 he sco es acco ding o he na u al capi-
al p o ec ion dimension we e compa ed in Bal ic s a es
du ing he 2010-2022 pe iod.
One can no ice om he da a plo ed in Figu e 2 ha
du ing he en i e in es iga ed pe iod, Es onia was he
bes -pe o ming coun y acco ding o he social in-
clusion dimension o g een g ow h. A he same ime,
La ia and Li huania showed e y simila p og ess ac-
co ding o social inclusion in g een g ow h om 2010
o 2022, hough he pa h was qui e di e en . Li huania
showed almos con inuous g ow h in social inclusion
du ing he en i e pe iod, and La ia showed some luc-
ua ions anging om a sha p decline o a d ama ic in-
c ease. All coun ies showed e y high sco es, namely,
abo e 80, showing ha hey almos ha e eached he
a ge .
In Figu e 3 he sco es acco ding o he na u al capi-
al p o ec ion dimension we e compa ed in Bal ic s a es
du ing he 2010-2022 pe iod.
In o ma ion p esen ed in Figu e 3 shows ha ac-
co ding o he na u al capi al p o ec ion dimension o
g een g ow h, La ia was he leading coun y du ing
he en i e in es iga ed pe iod. Since 2015, in Li huania,
he na u al capi al p o ec ion sco e has declined. Es-
Figu e 2
Dynamics o Sco es o Social Inclusion Dimension in he Bal ic S a es du ing 2010-2022
Sou ce: Global G een G ow h Ins i u e, 2023
Figu e 3
Dynamics o Sco es o Na u al Capi al P o ec ion Dimension in he Bal ic S a es du ing 2010-2022
Sou ce: Global G een G ow h Ins i u e, 2023
94
Dalia S eimikiene
10.5709/ce.1897-9254.527DOI: CONTEMPORARY ECONOMICS
Vol. 18 Issue 1 87-1002024
onian na u al capi al p o ec ion dimension sco e had
declined in 2025, bu since 2017, i s a ed o g ow d a-
ma ically; howe e , i did no each La ia’s posi ion in
2022. The e o e, in 2022 he e we e ob ious di e ences
among Bal ic S a es in achie emen s acco ding na u al
capi al p o ec ion dimension o g een g ow h. A sco e
abo e 70 means high sco es and indica es ha all Bal ic
S a es a e aking a s a egic posi ion o comple ely each
he a ge .
In Figu e 4 he sco es acco ding o e icien and sus-
ainable esou ce use dimension o g een g ow h we e
compa ed in Bal ic s a es du ing he 2010-2022 pe iod.
As one can no ice om Figu e 4, La ia was he bes -
pe o ming coun y among he Bal ic S a es acco ding
o he e icien and sus ainable esou ce use dimension
du ing 2010-2022. A he same ime, Es onia was he
wo s -pe o ming coun y du ing he en i e pe iod,
hough in 2010, he coun y had he same sco e o his
dimension as Li huania. Howe e , Li huania showed
sligh ly be e p og ess du ing he in es iga ed pe iod
in compa ison o Es onia. A sco e abo e 60 is a high
sco e and indica es ha coun ies a e aking a s a egic
posi ion o comple ely each he a ge .
In Figu e 5 he sco es acco ding o he g een eco-
nomic oppo uni ies dimension we e compa ed in Bal-
ic s a es du ing he 2010-2022 pe iod.
Figu e 4
Dynamics o Sco es o E icien and Sus ainable Resou ce Use Dimension in he Bal ic S a es du ing 2010-2022
Sou ce: Global G een G ow h Ins i u e, 2023
Figu e 5
Dynamics o Sco es o G een Economic Oppo uni ies Dimension in he Bal ic S a es du ing 2010-2022
Sou ce: Global G een G ow h Ins i u e, 2023
