1999 | nr 10 Proceedings of the Ace/Phare Conference on Building Financial Institutions in Transition Economies, Poznań, Poland, 14-15 May, 1999 | 72--79
Recent Developments in the Financing and Investment Policy of Estonian
This paper describes Estonia's investment environment and its development during the last four years, savings and investments which resource-wise create a basis for economic growth. In addition, problems hindering entrepreneurship and economic growth according to entrepreneurs' opinions are discussed. The data used are based on the publications of the Estonian Statistical Office, on the financial reports of different enterprises, and on the interview study by the Estonian research group, conducted from 1993 and to be completed in 1999. The authors are members of the research group and have participated in the interviews, as well as in the analysis and summarizing of the results. Several statistical systems describe economics on the macroeconomical level. The most general of them is the System of National Accounts (SNA). The priority of the SNA is estimating of development of economy in the economic territory of the country. The final result of production activity of resident producers is represented by gross domestic product (GDP). GDP could be compiled through three different methods: production approach, income approach and expenditure approach method. We use expenditure approach in this paper. (original abstract)
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