IDEAS home Printed from https://ideas.repec.org/a/rej/journl/v20y2017i66p43-62.html
   My bibliography  Save this article

Liberalism - Key to Entrepreneurial and Innovation Success: Estonian Case Study

Author

Listed:
  • Augustin Ignatov

Abstract

Since its independence in 1991 Estonia has successfully overpassed the challenges of the transition period being in the present of one the most technologically developed nations of Europe. The present research is intended to evaluate the relationship between Estonian pro-market regulation, entrepreneurship and innovation. In order to reach relevant conclusions in this regard there have been used both qualitative and quantitative methods of analysis. In such a way, it could be comprehensively reviewed the process of Estonian economic development from a relatively underdeveloped USSR republic to an advanced innovation driven economy. The results show that pro-market governmental regulation has favourably influenced Estonian entrepreneurship, while it fostered country’s innovation capacities. It has been concluded that the economic “miracle†of Estonia has been at a great extent determined by proper government regulation oriented towards economic liberalisation.

Suggested Citation

  • Augustin Ignatov, 2017. "Liberalism - Key to Entrepreneurial and Innovation Success: Estonian Case Study," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(66), pages 43-62, December.
    • Handle: RePEc:rej:journl:v:20:y:2017:i:66:p:43-62
    as

    Download full text from publisher

    File URL: http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2017-12-27/3490/3-ignatov.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Joze P. Damijan & Mark Knell & Boris Majcen & Matija Rojec, 2003. "Technology Transfer through FDI in Top-10 Transition Countries: How Important are Direct Effects, Horizontal and Vertical Spillovers?," William Davidson Institute Working Papers Series 549, William Davidson Institute at the University of Michigan.
    2. Jaan Masso & Priit Vahter, 2008. "Technological innovation and productivity in late-transition Estonia: econometric evidence from innovation surveys," The European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 240-261.
    3. Rodica Crudu & Augustin Ignatov, 2017. "Innovative Entrepreneurship Policy- the European Union Case," Fostering Knowledge Triange in Moldova: 2017 Conference Proceedings,, Academy of Economic Studies of Moldova, Centre for Studies in European Integration.
    4. Tõnu Roolaht, 2012. "The Characteristics of Small Country National Innovation Systems," Innovation, Technology, and Knowledge Management, in: Elias G. Carayannis & Urmas Varblane & Tõnu Roolaht (ed.), Innovation Systems in Small Catching-Up Economies, chapter 0, pages 21-37, Springer.
    5. Elzbieta Janton-Drozdowska & Maria Majewska, 2016. "Investment Attractiveness Of Central And Eastern European Countries In The Light Of New Locational Advantages Development," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 11(1), pages 97-119, March.
    6. Tarmo Kalvet, 2004. "The Estonian ICT Manufacturing and Software Industry: Current State and Future Outlook," Development and Comp Systems 0406006, University Library of Munich, Germany.
    7. Sinani, Evis & Meyer, Klaus E., 2004. "Spillovers of technology transfer from FDI: the case of Estonia," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 445-466, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ignatov Augustin, 2019. "Institutional Efficiency, Entrepreneurship, and the Premises of Economic Development in the Eastern European Countries," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 64(2), pages 12-32, August.
    2. Ignatov Augustin, 2018. "Towards a Confident Europe: Fostering European Foreign Policy as a Premise to Enhanced European Economic Security & Competitiveness," Global Economy Journal, De Gruyter, vol. 18(3), pages 1-13, September.
    3. Ignatov Augustin, 2018. "Regional Development Discrepancies in the Eastern European Union Analysed through the Prism of Growth Determinants," Global Economy Journal, De Gruyter, vol. 18(4), pages 1-18, December.
    4. Ignatov Augustin, 2018. "Entrepreneurial Innovation: the European Union perspective," Review of Economic Perspectives, Sciendo, vol. 18(2), pages 137-154, June.
    5. SIRBU Olesea & CRUDU Rodica & IGNATOV Augustin, 2018. "European initiatives for a competitive economy in a globalised world- Entrepreneurial innovation as a pivotal stake," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 4(1), pages 47-66, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nuno Crespo & Maria Paula Fontoura & Isabel Proença, 2009. "FDI spillovers at regional level: Evidence from Portugal," Papers in Regional Science, Wiley Blackwell, vol. 88(3), pages 591-607, August.
    2. Miklos Szanyi & Ichiro Iwasaki & Peter Csizmadia & Miklos Illessy & Csaba Mako, 2009. "The concentric-circle model of FDI spilklover effects estimation using Hungarian panel data," IWE Working Papers 191, Institute for World Economics - Centre for Economic and Regional Studies.
    3. Hanousek, Jan & Kocenda, Evzen & Maurel, Mathilde, 2011. "Direct and indirect effects of FDI in emerging European markets: A survey and meta-analysis," Economic Systems, Elsevier, vol. 35(3), pages 301-322, September.
    4. Nuno CRESPO & Isabel PROENÇA & Maria Paula FONTOURA, 2012. "The Spatial Dimension in FDI Spillovers: Evidence at the Regional Level from Portugal," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 12(1), pages 115-130.
    5. Ichiro Iwasaki & P�ter Csizmadia & Miklós Ill�ssy & Csaba Makó & Miklós Szanyi, 2012. "The Nested Variable Model of FDI Spillover Effects: Estimation Using Hungarian Panel Data," International Economic Journal, Taylor & Francis Journals, vol. 26(4), pages 673-709, October.
    6. Crespo, Nuno & Fontoura, Maria Paula, 2007. "Determinant Factors of FDI Spillovers - What Do We Really Know?," World Development, Elsevier, vol. 35(3), pages 410-425, March.
    7. Adam Gersl & Ieva Rubene & Tina Zumer, 2007. "Foreign Direct Investment and Productivity Spillovers: Updated Evidence from Central and Eastern Europe," Working Papers 2007/8, Czech National Bank.
    8. Teimuraz Gogokhia & George Berulava, 2021. "Business environment reforms, innovation and firm productivity in transition economies," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(2), pages 221-245, June.
    9. Rõigas, Kärt, 2011. "Linkage between productivity and innovation in different service sectors," Discourses in Social Market Economy 2011-02, OrdnungsPolitisches Portal (OPO).
    10. Li, Linjie & Liu, Xiaming & Yuan, Dong & Yu, Miaojie, 2017. "Does outward FDI generate higher productivity for emerging economy MNEs? – Micro-level evidence from Chinese manufacturing firms," International Business Review, Elsevier, vol. 26(5), pages 839-854.
    11. Richard Harris & John Moffat, 2011. "R&D, Innovation and Exporting," SERC Discussion Papers 0073, Centre for Economic Performance, LSE.
    12. Cristina Chaminade & Monica Plechero, 2015. "Do Regions Make a Difference? Regional Innovation Systems and Global Innovation Networks in the ICT Industry," European Planning Studies, Taylor & Francis Journals, vol. 23(2), pages 215-237, February.
    13. Victoria Kravtsova, 2008. "Foreign presence and efficiency in transition economies," Journal of Productivity Analysis, Springer, vol. 29(2), pages 91-102, April.
    14. Ichiro IWASAKI & Satoshi MIZOBATA, 2018. "Post-Privatization Ownership And Firm Performance: A Large Meta-Analysis Of The Transition Literature," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(2), pages 263-322, June.
    15. Saul Estrin, 2017. "Foreign direct investment and employment in transition economies," IZA World of Labor, Institute of Labor Economics (IZA), pages 330-330, January.
    16. Masron, tajul & Mohd Nor, Abu Hassan Shaari, 2016. "Foreign Investment in Real Estate and Housing Affordability," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 50(1), pages 15-28.
    17. Frank Crowley & Jane Bourke, 2017. "The Influence Of Human Resource Management Systems On Innovation: Evidence From Irish Manufacturing And Service Firms," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-28, January.
    18. H. T. Tran & E. Santarelli, 2013. "Determinants and Effects of Innovative Activities in Vietnam. A Firm-level Analysis," Working Papers wp909, Dipartimento Scienze Economiche, Universita' di Bologna.
    19. Jaan Masso & Amaresh K Tiwari, 2021. "Productivity Implications Of R&D, Innovation And Capital Accumulation For Incumbents And Entrants: The Case Of Estonia," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 130, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    20. Pham Dinh Long & Ho Thi Mai Anh, 2017. "Innovation and Productivity of Vietnamese Small and Medium Enterprises: Firm Level Panel Data Evidence," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 226-232.

    More about this item

    Keywords

    Economic transition; reforms; Estonian innovation; entrepreneurship; economic liberalism;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rej:journl:v:20:y:2017:i:66:p:43-62. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Radu Lupu (email available below). General contact details of provider: https://edirc.repec.org/data/frasero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.