Estonian Way to Liberal Economic System

Jaroslaw Bauc

No 38, CASE Network Studies and Analyses from CASE-Center for Social and Economic Research

Abstract: Estonia has adopted the one of the most radical programs of stabilization and transformation amongst not only the former Soviet Union countries but among previously centrally planned economies as well. The commodity and service markets were balanced mainly through the price liberalization and introduction of the internally convertible national currency. This was supplimented with the austerity in public consumption and surpluss in the state budget. The changes were also associated with a radical shift in the foreign trade rearientation. The economy that previously was oriented to almost costless recources from the former Soviet Union and work mostly for the Soviet "markets" seems to be very well adjusted to western markets and broad participation in the world economy.

Keywords: Estonia; liberal economy; transition economy (search for similar items in EconPapers)
Pages: 34 Pages
Date: 1995
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Citations: View citations in EconPapers (2)

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