Republic of Estonia: Selected Issues

December 14, 2015

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Format: Chicago

Republic of Estonia: Selected Issues, (USA: International Monetary Fund, 2015) accessed November 21, 2024

Summary

This Selected Issues paper analyzes income convergence and medium-term growth potential for Estonia. Estonia’s potential growth is projected to average some 3 percent over the next five years and 2.75 percent over the next two decades, implying continued income convergence with European Union levels, albeit at only half its historical pace. A number of policy enhancements could lift growth above this central projection. These include a greater operational policy focus on raising productivity growth, scaling up a number of envisaged pro-growth programs, supporting the upgrading of traditional industries as a second leg of innovation policy, and fully restoring Estonia’s high investment.

Subject: Aging, Education, Labor, Labor force participation, Population and demographics, Production, Productivity, Total factor productivity

Keywords: Aging, Capital stock, Central and Eastern Europe, CR, Europe, FDI inflow, Global, Growth record, ISCR, Labor force, Labor force participation, Potential GDP, Productivity, Qualification mismatch, R&D expenditure, Staff team of the International Monetary Fund, Structural unemployment, TFP growth, Total factor productivity, Unemployment rate, Western Europe

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/337
Stock No:

1ESTEA2015002
ISBN:

9781498377553
ISSN:

1934-7685

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