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OECD Economic Surveys: Estonia 2009
OECD Publishing , Publication date:  07 May 2009
Pages: 148 , Language: English
Version: Print (Paperback) + PDF
ISBN: 9789264060005 , OECD Code: 102009031P1
Price:   €57 | $75 | £40 | ¥8100 | MXN840 , Standard shipping included!
Availability: Low stock
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Other languages:  French (Available (Print on Demand))
Superseded by: OECD Economic Surveys: Estonia 2012 - (Available)
Other Versions:  E-book - PDF Format
Subscription:  OECD Economic Surveys (Available)

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Frequency: Irregular   Tables: 46  Charts: 54 

Estonia grew faster than most emerging market economies during 2000-07, but it is now in a severe recession. This first edition of OECD's periodic review of Estonia's economy includes chapters covering getting back to a sustainable growth path, fiscal policy, labour market reform, housing policy, and the business environment.

Table of contents:

Executive Summary
Assessment and Recommendations
Chapter 1. Getting Back to a Sustainable Growth Path is the Key Policy Challenge
-The current economic situation is the most challenging since the early 1990s.
-Medium-term prospects remain favourable, but hinge on reforms
--Challenges ahead - bringing Estonia back onto a high sustainable growth path
-Annex 1.A1. A Growth Accounting Exercise for Estonia
-Annex 1.A2. A Shock Synchronisation between Estonia and the Euro Area.
Chapter 2. Removing the Pro-Cyclical Bias of Fiscal Policy
-Trends in fiscal policies and outcomes
-Modifying the current fiscal rule - increasing flexibility without jeopardising sustainability
Chapter 3. Strengthening Financial Stability while Reducing Distortions in the Housing Market
-After a boom, the housing market is experiencing a sharp downturn
-High indebtedness has made households vulnerable to adverse shocks
-Avenues to reduce households' vulnerability to interest rate increases
-Fiscal policies contributing to increased housing demand and house prices
-Housing policies to address social imbalances
-Annex 3.A1. Explaining House Price Developments in Estonia
Chapter 4. Increasing Flexibility and Reducing Segmentation of the Labour Market
-The labour market: outcomes and challenges ahead
-Making labour market institutions more flexible
-Integrating ethnic non-Estonians and foreign workers into the labour market
-Annex 4.A1. Model of Reforming Labour Market Institution: Application to Estonia
-Annex 4.!2. Current Labour Market Institutions in Estonia
Chapter 5. Enhancing the Business Environment to Foster Productivity
-Estonia's framework conditions mostly support a well-functioning business environment
-E-government plays a key role
-Catch-up has been fast, but a gap with the productivity level of advanced OECD countries remains
-The tax system could do more to support investment, innovation, and entrepreneurship
-Product market regulatios facilitate competition, but some aspects call for further reforms
-Effectiveness of policies supporting innovation and entrepreneurship could be enhanced
-Private sector development in poorer regions should be encouraged
-Summing up
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