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The transition of the Baltic States. Why is Estonia the most successful?
133-144Views:221The study addresses the results of the Baltic States in the first phase of the transition, focusing on the process of stabilization, liberalization, privatization and institutional reforms. The paper summarizes the difficulties and the economic policy reactions, which built the basis for later successful development. The three analyzed countries have several similarities (country size, geopolitical situation, resources, Soviet heritage) so the discrepancies in the level of economic development can probably be explained by the different paths of transition. The author attempts to answer the question, how a coherent economic policy contributed to the Estonian transition, which proved the most successful.
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