Management consulting started to evolve in Estonia around 40 years ago. The development was affected by the consulting practice and literature mostly from the United States and neighbouring Finland. The most important factors in the development of the consulting sector in Estonia were direct...

It is now more than ten years since the dismantling of the USSR began, not only in terms of the reasserted independence of the member states, but also in terms of the end of the centralised Soviet command economy. The experiences of a myriad of investors, public and private, who have lost funds...

This book discusses paradigmatic changes in the field of entrepreneurship education in response to economic, political and social needs, and the consequential need to reassess, redevelop and renew curricula and methods used in teaching entrepreneurship.

We analyze how intellectual abilities and education affect investors’ risk-adjusted returns in the stock market. To investigate such effects, we use educational performance measured by standardized exams and the type and specialty of a university degree obtained.  The data used covers one...

In our recent work (Liivamägi, Vaarmets, & Talpsepp, 2014), we study how education and mental abilities affect investors’ risk adjusted performance on the stock market. We use a dataset from Tallinn stock exchange, covering stock market transactions from a full business cycle along with...

This paper investigates determinants of lending growth and cyclicality in banks of 15 Central and Eastern European countries during the period of 2004-2010. The results support, as expected, cyclicality in lending growth, but contrary to expectations, the association between GDP growth and...

Within the first 20 years of the market economy in Estonia, the public school market has been decentralized in Tallinn. Firstly, we describe how students are allocated to primary schools in a narrative, and secondly, in a formal mechanism design language. We indicate the closest equivalent...

In our recent work (Vaarmets, Liivamägi and Talpsepp (2014)), we offer strong evidences that people with higher mental abilities are more likely to participate in the stock market. We dig deeper into the behaviour of individual investors and can give a more precise picture how education and...

Countries in the Asia and Pacific region have shown many macroeconomic similarities such as current account surpluses, exchange rate appreciation, export-oriented economies, growth success, etc. This paper argues that there may be one more macroeconomic feature to add to the list: strong tax...

Estonia introduced a new corporate income tax system in 2000, under which corporate profit is taxed only when it is paid out as dividends to shareholders. The switch to distributed profit or dividend taxation was billed as a means to attract investment, support enterprises and increase...