Estonia has already experienced many benefits of increasing international integration, most obviously in significant convergence.
The ongoing financial crisis has put euro adoption at the top of Estonia's policy agenda. However, shocks affecting Estonia are only weakly synchronized with those of the euro area, and the structure of its economy also notably differs from the euro zone.
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Data and supplementary tables from Economics Department working paper on Estonia and euro adoption: Small country challenges of joining EMU.
Estonia is now in a severe recession. To restore high and sustainable growth, the country will need to rebalance its resources from non-tradables towards exports.
This paper discusses options for removing the remaining barriers that impede worker reallocation across jobs, sectors, and regions into more productive activities.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.