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Banking reform has proved to be one of the most problematic elements of economic transition in central and Eastern Europe. Therefore the paper considers the development of the Estonian banking sector and derives individual banks ́fragility scores during transition. To this end we use...
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, Estonia, as the transition process develops. Using Labour Force Survey data covering the period 1989-1999, we show that after … the initial shock, displacement rates in Estonia have fallen back to levels observed in several western economies, as the … in Estonia. The main cost of displacement is then the income loss due to non-employment, which is severe for a minority …
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