BOFIT 30 years – from the Soviet Union to emerging economies

Abstract

When the Board of the Bank of Finland decided to disband the old Bilateral Trade Department, which had dealt with payments related to the Finnish-Soviet barter trade, and create a new Unit for Eastern European Economies, the main geographical focus of the new unit was supposed to be the Soviet Union. The work of this new unit began on September 1, 1991, but before the year had ended the Soviet Union had ceased to exist. The Unit nimbly changed its main focus to Russia and the three Baltic States.