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Estonian Way to Liberal Economic System

Author

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  • Jaroslaw Bauc

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.

Suggested Citation

  • Jaroslaw Bauc, 1995. "Estonian Way to Liberal Economic System," CASE Network Studies and Analyses 0038, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0038
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    Cited by:

    1. Rafal Antczak & Marek Dabrowski, 1995. "Economic Transition in Russia, the Ukraine and Belarus in Comparative Perspective," CASE Network Studies and Analyses 0050, CASE-Center for Social and Economic Research.
    2. Bernadeta Baran, 2014. "Budgetary Discipline And Internal Devaluation – Estonian Method To Overcome The Crisis," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 9(2), pages 9-23, June.

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