Estonian Economy and Monetary Policy 2/1998
Monetary Developments & Policy Survey. Second Half of 1998
CONTENTS
- I. SURVEY OF THE ESTONIAN ECONOMY
- The Key Indicators of Economy
- External Environment and Capital Flows
- Money and Credit Market
- Financial Sector
- Real Economy
- Government Sector
- External Sector
- II. ESTONIA'S ECONOMIC DEVELOPMENT IN THE SECOND HALF OF 1998
- External Environment
- Industrial Countries
- Emerging Countries
- Estonia's Domestic Demand
- Private Consumption
- Wages
- Investments
- Public Sector
- Domestic Supply
- Economic Growth
- Economic Environment and Crisis in Russia
- Sales of Industrial Production
- Corporate Financial Indicators
- External Sector
- Exports
- External Financing
- BACKROUND INFORMATION - Fiscal Policy and Stabilisation Reserve Fund
- III. INFLATION AND PRICE FLEXIBILITY
- Consumer Price Index
- Competitiveness
- Price Level Linkage with Commodity and Labour Markets
- BACKGROUND INFORMATION - Estonia's Price Level Compared to the Other European Countries
- IV. MONEY AND CREDIT MARKET
- Capital Flows and Monetary Aggregates
- Capital Flows by Sectors
- Growth Rate of Monetary Aggregates
- Structure of Monetary Aggregates
- Liquidity and Money Market, Money Market Interest Rates
- Liquidity
- Money Market
- Money Market Interest Rates
- Forward Market
- Credit Market
- Long-term Interest Rates
- BACKGROUND INFORMATION - Introduction of the Euro
- Real Interest Rates
- V. FINANCIAL SECTOR
- Banking System
- Banks' Assets and Their Quality
- Liabilities and Own Funds
- Return on Equity
- Institutional Development
- Securities Market
- Bond Market
- Stock Market
- Other Financial Intermediaries
- Leasing Companies
- Insurance
- Investment Funds
- BACKGROUND INFORMATION - The Institutional Reform in the Financial Sector Supervision in Estonia
- Payment System