Policy Brief: Economic Survey of Estonia, 2009

Estonia grew faster than most emerging market economies during 2000‑07, but it is now in a severe recession. While the initial reversal of GDP growth was caused by a collapse of domestic demand, at the current juncture Estonia is vulnerable to external shocks as well.

Labour market flexibility in Estonia: what more can be done?

This paper discusses options for removing the remaining barriers that impede worker reallocation across jobs, sectors, and regions into more productive activities.

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• Economic Survey of Estonia 2009

Economic Survey of Estonia 2009

Estonia grew faster than most emerging market economies during 2000-07, but it is now in a severe recession due to a collapse of domestic demand in the wake of the international financial crisis.

Economic Policy Reforms: Going for Growth 2011: Country Notes

Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.

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Economic Survey of Estonia 2009: Enhancing the business environment to foster productivity

Estonia is particularly well regarded in ICT network readiness and well-functioning e-government. However, the share of production in high tech and knowledge intensive sectors is relatively low.

Economic Survey of Estonia 2009: Increasing flexibility and reducing segmentation of the labour market

More flexible labour markets will be a key adjustment mechanism in the current recession as well as in the medium term if Estonia is to become a knowledge-based economy.

Economic Survey of Estonia 2009: Getting back to sustainable growth path is the key policy challenge

Estonia is facing its most challenging economic situation since the early 1990s. Past overexpansion was financed by rapid credit growth. Growth was in general biased towards domestic demand.

Economic Survey of Estonia 2009: Strengthening financial stability while reducing distortions in the housing market

Co-operation is required between regional financial supervisory authorities to mitigate risks to financial stability as well as cyclical volatility in housing and construction. Financial stability could be strengthened by increasing households’ financial literacy.

Economic Survey of Estonia 2009: Removing the pro-cyclical bias of fiscal policy

The key challenge is to develop gradually its counter-cyclical role without jeopardizing sustainability.