Estonia's Economic Development

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dc.creatorLumiste, Rünno
dc.creatorPefferly, Robert
dc.creatorPurju, Alari
dc.date2017-08-28T20:18:51Z
dc.date2017-08-28T20:18:51Z
dc.date2008
dc.date.accessioned2026-07-01T01:11:49Z
dc.descriptionThis paper is a case study of an open small economy whose development and growth is based largely on foreign trade and foreign direct investment (FDI). One purpose of the paper is to uncover the causes that have created such a development pattern. Estonia is a former socialist economy, part of the Former Soviet Union (FSU), which introduced comprehensive structural and institutional reforms in the 1990s. The country's transition to a market economy has been enhanced by integration with the European Union (EU), which was very important in evolution of institutions. Other research in this paper concerns the role of external anchors upon economic development; that is, mandates that reflect the values, objectives, and aims of a socioeconomic alliance, and which also frame Estonia's economic policy. One conclusion of the paper is that the EU integration process played an important role in creating and supporting development of a liberal, private sector-based market economy. Implementation of the rules, standards, and norms helped to increase the competitiveness of Estonian companies by improving market access to the EU and other markets. The external anchor concept is related to the international agents. A critical factor for future development and structural changes will be transforming Estonia from a transition economy to an innovation economy. The paper examines the role of the information and communication technology (ICT) sector and Skype in this development. The case of Skype demonstrates the much wider impact of the new telecommunication technology on society. Estonia's development in this field is empirical evidence that location, production, technology, and timing along with external anchors represent a catalyst for change.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/280881468025510249/Estonias-economic-development-trends-practices-and-sources
dc.identifierhttps://hdl.handle.net/10986/28035
dc.identifierhttps://doi.org/10.1596/28035
dc.identifier.urihttp://hdl.handle.net/123456789/416016
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationCommission on Growth and Development Working Paper;No. 25
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectAGRICULTURE
dc.subjectALCOHOLIC BEVERAGES
dc.subjectAUCTIONS
dc.subjectAUTARCHY
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK DEPOSITS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBENEFICIARIES
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL MOVEMENTS
dc.subjectCENTRAL BANK
dc.subjectCLIMATE CHANGE
dc.subjectCOMMAND ECONOMY
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMODITY
dc.subjectCOMMUNICATION TECHNOLOGY
dc.subjectCOMPETITIVENESS
dc.subjectCOMPREHENSIVE STRATEGY
dc.subjectCONSUMER GOODS
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMERS
dc.subjectCORPORATE INCOME TAXES
dc.subjectCORPORATE TAX
dc.subjectCREDIBILITY
dc.subjectCURRENCY BOARD
dc.subjectDEBT
dc.subjectDEMOCRATIC SOCIETY
dc.subjectDEVALUATION
dc.subjectDIRECT INVESTMENTS
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CURRENCIES
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC PRICES
dc.subjectDRIVING
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC LIBERALIZATION
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC POWER
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC RELATIONS
dc.subjectECONOMIC STRUCTURE
dc.subjectECONOMIC TOOLS
dc.subjectECONOMIC VALUE
dc.subjectENERGY RESOURCES
dc.subjectENFORCEMENT SYSTEM
dc.subjectEQUITY CAPITAL
dc.subjectEXCHANGE CONTROLS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXCISE TAXES
dc.subjectEXPENDITURES
dc.subjectEXPORT MARKET
dc.subjectEXPORTS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFIXED EXCHANGE RATE
dc.subjectFIXED PRICES
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN COMPANIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTMENTS
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN MARKETS
dc.subjectFOREIGN OWNERSHIP
dc.subjectFOREIGN TRADE
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFREE TRADE AGREEMENTS
dc.subjectFUEL
dc.subjectFUELS
dc.subjectGASOLINE
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT BUDGET
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHARMONIZATION
dc.subjectHOLDING
dc.subjectHOST COUNTRIES
dc.subjectINCOME
dc.subjectINCOME TAX
dc.subjectINDUSTRIAL COUNTRY
dc.subjectINDUSTRIAL ECONOMIES
dc.subjectINFLATION
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINVENTORIES
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT RATE
dc.subjectIPO
dc.subjectITC
dc.subjectJOINT VENTURE
dc.subjectJOINT VENTURES
dc.subjectJOINT-STOCK COMPANIES
dc.subjectLAISSEZ FAIRE
dc.subjectLAISSEZ FAIRE POLICY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL SYSTEM
dc.subjectLESS DEVELOPED COUNTRIES
dc.subjectLIBERALIZATION OF TRADE
dc.subjectLIQUIDATION
dc.subjectLOAN
dc.subjectLOCAL GOVERNMENTS
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMANUFACTURING INDUSTRIES
dc.subjectMARKET ACCESS
dc.subjectMARKET COMPETITION
dc.subjectMARKET ECONOMIES
dc.subjectMARKET ECONOMY
dc.subjectMARKET PRICES
dc.subjectMARKET REGULATIONS
dc.subjectMARKET STRUCTURE
dc.subjectMARKET TRANSACTIONS
dc.subjectMIDDLE-INCOME COUNTRY
dc.subjectMOBILE PHONES
dc.subjectMONOPOLIES
dc.subjectNATIONAL CURRENCY
dc.subjectNATIONAL INFRASTRUCTURE
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectNEW MARKETS
dc.subjectNEW PRODUCTS
dc.subjectOPEN ECONOMY
dc.subjectOUTPUT
dc.subjectOUTPUT LOSSES
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPENETRATION RATE
dc.subjectPENSION
dc.subjectPENSIONERS
dc.subjectPENSIONS
dc.subjectPER CAPITA INCOME
dc.subjectPLANNED ECONOMIES
dc.subjectPLANNED ECONOMY
dc.subjectPOLITICAL STABILITY
dc.subjectPOLITICAL SYSTEM
dc.subjectPOSITIVE EFFECTS
dc.subjectPOTENTIAL INVESTMENTS
dc.subjectPRICE INCREASES
dc.subjectPRICE STABILITY
dc.subjectPRIVATIZATION
dc.subjectPRODUCTION COSTS
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC TRANSPORTATION
dc.subjectPURCHASING POWER
dc.subjectRAIL
dc.subjectRAIL SERVICE
dc.subjectRAILWAY
dc.subjectRAPID GROWTH
dc.subjectREAL ESTATE
dc.subjectREAL GDP
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY REGIMES
dc.subjectRETURN
dc.subjectROAD
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSINGLE MARKET
dc.subjectSMALL ECONOMY
dc.subjectSOCIAL COSTS
dc.subjectSOCIAL INSURANCE SYSTEM
dc.subjectSTOCKS
dc.subjectTAKEOVER
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTECHNOLOGICAL CHANGES
dc.subjectTECHNOLOGY TRANSFER
dc.subjectTELECOMMUNICATIONS
dc.subjectTRADE ASSOCIATION
dc.subjectTRADE BALANCE
dc.subjectTRADE BARRIERS
dc.subjectTRADE DEFICIT
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADE PROTECTION
dc.subjectTRADE REFORMS
dc.subjectTRADE REGIME
dc.subjectTRADE REGIMES
dc.subjectTRADE SECTORS
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSIT
dc.subjectTRANSIT SERVICES
dc.subjectTRANSIT TRADE
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSITION ECONOMY
dc.subjectTRANSPORT
dc.subjectTRANSPORT EQUIPMENT
dc.subjectTRANSPORTATION
dc.subjectTURNOVER
dc.subjectUNDERVALUATION
dc.subjectUNEMPLOYMENT
dc.subjectURUGUAY ROUND
dc.subjectVALUE ADDED
dc.subjectVEHICLES
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleEstonia's Economic Development
dc.titleTrends, Practices, and Sources
dc.typeWorking Paper
dc.typeDocument de travail
dc.typeDocumento de trabajo

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