Estonia: In and Out of Crisis

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Series Title
Series Details Vol.20, No.1, 2012
Publication Date 2012
ISSN 2228-1878
Content Type

The paper analyses Estonian economic developments during the first decade of 21st century. Estonia provided in that period a clear-cut example of the classical business cycle with an extreme bubble-burst sequence of economic activities. The author analyses the reasons on such a volatile economic growth pattern and explains economic cycle management particularities in Estonia. In the frames of macroeconomic developments will be analyzed monetary and fiscal policies. The author argues, that Estonia’s fiscal policy has been always pro-cyclical, what has deepened country’s macroeconomic volatility. The paper also analyses critically the government activities and policies during the recent crisis

Source Link Link to Main Source http://ojs.utlib.ee/index.php/TPEP/article/view/785/764
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