By Carlos Brandão Cavalcanti, World Bank. Europe and Central Asia Region. Poverty Reduction and Economic Management Unit
"Economic integration that ends up in the convergence of earning and dwelling criteria is on the center of the ecu accession strategy. the idea is that alternate integration mixed with institutional harmonization will result in sustainable capital flows from eu Union member international locations to acceding nations ...'" Estonia's case for accession is outfitted, to a wide quantity, on a list of sound financial administration. certainly, in view that regaining independence in 1991, Estonia has effectively applied a huge time table of stabilization and structural reform regulations. This dedication to sound fiscal administration has yielded optimistic effects. although, at the present, Estonia is experiencing a pointy financial slowdown due to significant exterior shocks, the Asia and Russia crises. This nation learn emphasizes parts the place there's maximum overlap among the accession schedule and measures to bolster financial administration. those parts of overlap comprise upgrading monetary quarter supervision and strengthening price range administration. it is usually reforms in components the place there's complementarity among reforms designed to facilitate accession and structural reforms that may help long term development and fiscal integration. those are the modernization of public management, the adherence to european caliber criteria, the continual development of the operations of the customs board, and the crowning glory of land reform. ultimately, the final chapters of the learn research components the place enforcing the accession schedule entail both a primary switch in Estonia's alternate coverage regime, or have excessive compliance bills. those are the adoption of the EUs universal Agricultural coverage (CAP), because it evolves, and complying with ecu environmental criteria.
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Extra resources for Estonia: implementing the EU accession agenda
5 percent in 1998. Economic recovery swiftly followed stabilization, with real GDP growth averaging just under 6 percent during the 1995-98 period. Also, the stable currency and progress in structural reforms helped Estonia successfully reintegrated into Western Europe. Exports to Western Europe account today for over two-thirds of total exports, compared to less than 5 percent in 1991. , textile, clothing, and machinery products). At present, however, Estonia is experiencing a sharp economic slowdown as a result of two major external shocks- the Asia crisis and the Russia crisis, which has been reinforced by the recent growth deceleration in the EU.
Given the speed at which it can be implemented, the authorities should proceed with the plan to adopt the ASYCUDA system by Estonian Customs October 1999. This should help to resolve or reduce these types of delay. As trade continues to expand, experience may show that the ASYCUDA system will be strained. Then eventually Estonia may want to model it customs computerization after one of the member countries of the EU. Finally, Estonia can expect considerable economic benefits from meeting EU quality standards.
Bridging the Regulatory and Institutional Gaps with the EU 24 C. A Pre-Accession Strategy to Strengthen Regulations and Supervision 28 Chapter 3: Managing Public Expenditure 33 A. Introduction 33 B. Enforcing Aggregate Fiscal Discipline 35 C. Strengthening Strategic Prioritization 39 D. Achieving Technical Efficiency 41 Chapter 4: Strengthening Public Administration 44 A. Introduction 44 B. Building an Information System on Public Sector Employment and Pay 46 C. Improving Public Sector Performance 52 D.