Eastern European Business and Economics Journal

Regional cooperation optimization model: addressing energy challenges in the Baltic Sea region

 

Tuvikene L, Bogdanova O, Skribans V.

 

Tuvikene L, Bogdanova O, Skribans V. 2015. Regional cooperation optimization model: addressing energy challenges in the Baltic Sea region. Eastern European Business and Economics Journal 1(1): 2-11.

 

Full text

 

Reviewers:

Enrico IVALDI, University of Genova, Italy;

Liping GAO, the University of Texas at El Paso, USA;

Ermira KALAJ, Aleksander Moisiu University, Albania;

Scott William HEGERTY, Northeastern Illinois University, USA.

 

Abstract:

Regional cooperation is a strong instrument in common cross-border solution development. Currently, the main Energy sector challenges in the European Union, as well as in other world economies, are mainly referred to sustainable, competitive and secure energy market. The Energy sector issues due to their nature cannot frequently be effectively resolved by a single country. Stakeholders trying to find the best approach for communication created various formats of regional cooperation, therewith complicating the overall system and hampering problem solving by function duplication and overlapping. The research provides an insight to the regional cooperation practice in the Baltic Sea region in electricity sector. The aim of the paper is to present the developed by the authors Model of Regional cooperation based on analysis of the existing practice of regional cooperation in the Energy sector. The Object of the research is the Energy sector development opportunities, while the Subject of the research  – existing formats of macro-regional cooperation addressing Energy sector challenges.Based on quantitative and qualitative data analysis the two models for regional cooperation facilitation were developed: Optimized Strategic Model of regional cooperation in a field of economy and Functional Model for Optimization of regional cooperation. The both models can be applied not only in the Baltic Sea region, but also in any other region of the European Union or the world, for different spheres of economy.

 

Keywords:

Regional cooperation, Energy, Baltic Sea Region, optimization

 

Language:

English

 

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