In November SITE launched a new quarterly publication, Baltic Economic Trends (BET). The new journal is edited by Alf Vanags, of the University of Latvia and the University of London (alf@eurofaculty.lanet.lv), and Peter Westin, of SITE (Peter.Westin@hhs.se). It is part of the Baltic International Centre for Economic Policy Studies (BICEPS) project to build an economics research and policy center in Riga, Latvia. The new journal represents a new, innovative channel for communicating the results of the latest research on the Baltic economies.

Since the start of the transition, the three Baltic states have made tremendous progress in reforming their economies. They have become market economies and have reintegrated successfully into the world economy. Their achievements have fostered a rapidly growing interest in the Baltic states that has generated significant per capita levels of foreign investment.

BET’s approach is to study and interpret economic development in the Baltic economies in the framework of their integration into the world community and the European Union. The economic statistics produced by official sources in the three Baltic states are accessible and of good quality. BET aims to complement existing analytical and statistical sources with in-depth comparative analysis. It will also provide analysis of developments in the Baltic Rim, their impact on the Baltic economies, and the process of EU enlargement.

The introductory issue of BET includes three feature articles: "Trade Policy in the Baltics: Whither the Baltic Free Trade Agreement?" by Alf Vanags, "Are the Baltic Currencies Overvalued?" by Iikka Korhonen, and "Risk and Return in Central and Eastern Europe," by Anete Pajuste and Peter Högfeldt. It also contains economic updates on Estonia, Latvia, and Lithuania and tables of key economic indicators.