Developments of Estonia and Perspectives in The European Union

Abstract

Both the causes and consequences of the economic crisis which can be delimited with the period 2008-2010 (with the main emphasis on 2009, however) and the recovery from which started in 2010, probably need to be analysed more thoroughly and in more detail, when the duration of the crisis can be more specifically determined (although the main positions are generally known). On the other hand it is necessary to take measures everywhere already today to ensure rational steps with respect to the choice of measures of economic policy and orientations in exiting the economic crisis and in achieving the development, without leading national economies to setbacks or unsuccessful (wrong) directions very soon. This is topical today also for the sake of the future. The objective of this paper is to give a brief overview of the recent developments of the Estonian economy, its actions related to economic policy in overcoming and exiting the economic crisis, and the further orientation and problems (which have often been the reasons for aggravation of the economic recession) in the development of national economy as a EU Member State. This paper has been written based on different evaluations, experience of other countries as it concerns Estonia as well, several research studies in analysing the economic crisis, author’s own positions which are based on official statistics and materials and long-term personal assessments of the economic situation, also on years of working with many students in seminars of different subjects related to economic policy.