Republic of Estonia: Selected Issues

November 11, 2004

Summary

This Selected Issues paper examines developments in Estonia’s expanding net external obligations, as well as in domestic income flows and balance sheets. The paper discusses external current account and net international investment positions. Domestic investment and saving and balance sheet developments for the domestic sectors are covered. The paper makes use of the IMF’s new Global Econometric Model to investigate and quantify the role of market flexibility in Estonia. It also compares the results of simulations made under different assumptions about labor market and goods market flexibility.

Subject: Balance of payments, Disposable income, Foreign direct investment, Labor, Labor market flexibility, Labor markets, National accounts, Production, Productivity

Keywords: Baltics, CR, Disposable income, enterprise, ERM II participation, Estonia, EU inflation, EU level, FDI inflow, Foreign direct investment, Global, goods market, household net saving, ISCR, labor market, Labor market flexibility, Labor markets, product market, product market flexibility, Productivity, productivity catch-up, saving rate

Pages:
44
Volume:
2004
DOI:
https://doi.org/10.5089/9781451812381.002
Issue:
357
Series:
Country Report No. 2004/357
Stock No:
1ESTEA0012004
ISBN:
9781451812381
ISSN:
1934-7685

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