Republic of Estonia: Selected Issues

March 9, 2009

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Format: Chicago

Republic of Estonia: Selected Issues, (USA: International Monetary Fund, 2009) accessed December 3, 2024

Summary

This Selected Issues paper focuses on financing constraints and productivity in Estonia. The paper examines two questions: (1) is there evidence of financing constraints among Estonian firms; and (2) have financing constraints reduced firm-level total factor productivity (TFP)? These questions are particularly important in the current environment, in which credit growth in Estonia has slowed down considerably and firms may face increasing financing constraints that could dampen growth. The paper also provides empirical evidence on the existence of financing constraints among Estonian firms.

Subject: Balance of payments, Current account, Current account balance, Current account deficits, Foreign exchange, Production, Productivity, Real exchange rates

Keywords: Asset, Central and Eastern Europe, CR, Current account, Current account balance, Current account deficits, Current account gap, Eastern Europe, Equilibrium current account, Financing constraint, Firm level, Foreign exchange, Global, ISCR, Observation series, Productivity, Real exchange rates

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/085
Stock No:

1ESTEA2009001
ISBN:

9781451812541
ISSN:

1934-7685

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