The Euro 50 Group Roundtable: Challenges of accession:
 Estonia

After regaining its independence, Estonia started the transition from a planned to a market economy in quite an unfavourable position. The enormous structural rigidities of the Soviet economy, compared to the somewhat more liberal regimes of Poland and Hungary, were notable. This necessitated deeper initial restructuring and arguably greater social adjustment, than in many other transition economies. Statistically, this is captured by official growth data of the early 1990s (Figure 1). In additi

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