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Microfoundations of Economic Success: Lessons from Estonia
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Microfoundations of Economic Success: Lessons from Estonia (Hardback)

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This book explores the nature of the flexibility of Estonia's rapid growth, that enables it to swiftly seize opportunities and weather crises without undue cost.

The distinguished cast of contributors draws upon detailed data on individual firms and households to explore the basis for Estonia's record as the most successful of all the EU accession countries over the last decade. They conclude that much of this accomplishment can be attributed to the greater flexibility of the Estonian economy, both in price setting in employment and wages, and in consumption. The book also reveals that Estonia is able to adjust to shocks more rapidly and with less real impact than other countries. Coupled with a favourable macroeconomic policy and a good institutional structure and legal framework, this indicates that Estonia will be an excellent example to other countries despite the recent downturn.

This unique book will be of great interest to researchers and students of the economics of transition, and will prove invaluable to policy-makers and their advisors in both transition countries and the rest of the EU, as well as graduate students studying microeconomics and monetary policy.

BusinessEconomicsMicroeconomics Publisher: Edward Elgar Publishing Ltd Publication Date: 01/04/2009 ISBN-13: 9781847209290  Details: Type: Hardback Format: Books
Availability: To Order. Estimated despatch in 1-3 weeks.  

Edited by the late David G. Mayes, formerly Professor of Banking and Financial Institutions, Director, Europe Institute and Director, NZ Governance Centre, University of Auckland, New Zealand

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