SOCIOECONOMIC RESILIENCE IN THE CONTEXT OF SUSTAINABILITY: A COMPARISON OF THE NORDIC AND BALTIC STATES

Abstract

This study examines the concept of socioeconomic resilience in the context of sustainability, comparing the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) with the Baltic states (Estonia, Latvia and Lithuania). Socioeconomic resilience, defined as the capacity of societies to absorb shocks, adapt, and transform while maintaining essential functions, is a key component of sustainable development. The Nordic region is renowned worldwide for its comprehensive welfare systems, strong institutions, and the integration of environmental sustainability into policymaking. These factors contribute to high levels of resilience through inclusive economic models, political stability, and social cohesion. In contrast, the Baltic states have achieved rapid economic transformation and EU integration since the 1990s, but have also faced many challenges and threats, including financial instability, energy dependence, high levels of emigration and, more recently, illegal immigration from third countries, encouraged by Belarus and the war between Ukraine and Russia. The dynamic nature of socio-economic situations, especially during crises such as pandemics and natural disasters, affects socio-economic resilience. This paper aims to estimate an index of socioeconomic resilience that considers sustainability and to compare Nordic and Baltic countries. It employs expert assessment, the simple additive weighting (SAW) method, and correlation methods. The research focuses on filling the gap in resilience theory while considering economic and social issues in the context of sustainability and regional integration. This is achieved by evaluating indicators such as institutional quality, economic diversification, social capital, and environmental performance.