Estonian Economy and Monetary Policy 9/2000
Monetary Developments & Policy Survey. September 2000
CONTENTS
- I. SURVEY OF THE ECONOMIC POLICY
- Monetary Developments
- Financial Intermediation
- Inflation
- Private Consumption and Investments
- External Balance
- Fiscal Policy
- BACKGROUND INFORMATION
- MAJOR STRUCTURAL REFORMS IN 2000
- II. ECONOMIC DEVELOPMENTS
- EXTERNAL ENVIRONMENT
- The United States of America and Japan
- Emerging Countries
- Development in European Economic Space
- European Union and Euro Area
- Finland
- Sweden
- Central and Eastern Europe
- Development of Financial Markets
- Prices for Raw Materials
- Currencies
- Stocks
- Interest Rates
- Capital Markets in Emerging Countries
- ESTONIAN ECONOMY
- Domestic Demand
- Private Consumption and Investments
- Public Sector
- Domestic Saving
- Domestic Supply
- External Sector
- BACKGROUND INFORMATION
- CHANGES DURING RECESSION PERIOD IN ESTONIA'S ECONOMY
- RUSSIA AFTER THE 1998 FINANCIAL CRISIS
- Retrospective View
- Current Situation and Further Steps
- III. INFLATION
- REER and Competitiveness
- IV. MONETARY POLICY ENVIRONMENT
- Monetary Environment in Estonia and Euro-zone
- Capital Flows and Formation of Base Money
- Monetary Aggregates
- Money and Foreign Exchange Markets
- Money Market Interest Rates
- Forward Market
- Credit Market
- Interest Rates in Real Sector
- BACKGROUND INFORMATION
- LOAN GROWTH FOLLOWING ASIAN/RUSSIAN CRISIS IN 1999-2000: CAN THE 1997 BOOM RECUR?
- Current Situation
- Loan Structure by Sectors
- Conclusions
- V. FINANCIAL SECTOR
- Banking
- Banks' Assets and their Quality
- Liabilities
- Return on Equity
- Securities Market
- Stock Market
- Bond Market
- Other Financial Intermediaries
- Insurance
- Leasing
- Investment Funds
- Payment System