Knowledge intensity and socio-economic inclusion for promoting sustained development
Group head: Aaro Hazak
Members: Kadri Männasoo, Marit Rebane, Kirsti Rumma, Ako Sauga, Heili Hein, Helery Tasane, Raul Ruubel, Marko Virkebau
This research group seeks to investigate various micro and macro level forces and incentives, which could speed up the convergence of emerging economies with frontier knowledge based economies and lead to sustained socio-economic development (JEL: O). We address the obstacles in developing knowledge absorptive capacities and overcoming the prevailing regional disparities (JEL: P2). The expected results shall cast light to the possibly latent or underestimated reasons for slowing down productivity and prosperity growth and for inefficiencies in human capital use in European (emerging) economies. In particular, human capital endowment, stimuli for capital allocation into intellectual investments, R&D activities (JEL: I2) and work regulation/practices are in focus of empirical measurement and inference.
Finance and the digital economy: financial behaviour, markets, and competitiveness
Group head: Laivi Laidroo
Members: Karin Jõeveer, Mari Avarmaa, Enn Listra, Kristjan Liivamägi, Kalle Ahi, Pavlo Illiashenko, Kaido Kepp, Triinu Tapver, Tarvo Vaarmets, Mari-Liis Kukk, Indrek Kaldoja, Shaun Deanesh
This research group seeks to contribute to the international academic literature that deals with contemporary topics in financial economics (JEL: G). Special attention is paid to the emerging topics related to the digitalisation in finance (e.g., crowdfunding, ICOs, cryptocurrencies, digital wallets, robo-advisory) as well as to the business models and ecosystems of FinTechs. The research is also linked to the fields of industrial organisation (JEL: L) and economic development, innovation, technological change and growth (JEL: O).
Traditional and behavioural finance theories are utilised to investigate topics related to corporate finance, household finance, financial markets, and banking with the aim of enhancing the understanding of the financial behaviour of individuals, firms and financial intermediaries, and the linkages between them (mainly in European context). Interdisciplinary approach is used to address questions related to business, legal and technological aspects of digitalisation in finance and its economic impact for determining the factors needed for improving the competitiveness and performance of the national economies through the employment of suitable regulative measures.
In cooperation with FinanceEstonia, the research group has published “FinTech Report Estonia 2019”, which is the first report to provide a complete overview of the Estonian FinTech landscape. It captures the sector’s current situation, as well as the most important future trends and biggest challenges facing the companies.
From left Pavlo Illiashenko, Kaido Kepp, Laivi Laidroo, Enn Listra, Shaun Deanesh, Mari-Liis Kukk, Mari Avarmaa, Triinu Tapver
Companies’ productivity, investments and export competitiveness
Group head: Kadri Männasoo
Members: Aaro Hazak, Juan Carlos Cuestas, Hakan Berber, Heili Hein, Kaido Kepp, Jelena Matina, Kirsti Rumma, Raul Ruubel, Artjom Saia, Helery Tasane, Katriin Ranniku
The line of research pursues a micro-level comparative empirical research on companies’ (JEL: D) productivity, innovative investments and competitiveness for explaining the long-term growth (JEL: O) outlook in small, open and export-oriented economies. The aim is to investigate the drivers and obstacles of companies’ productivity enhancing investments into adoption of new technologies and production processes, training of employees, R&D and innovation (JEL: I). The research aims at new evidence on digital innovation and digital empowerment and on their effect on productivity growth and economic welfare. The research contributes to policy making while providing evidence based quantitative estimations (JEL: C) on the impact of macro- and business-environmental factors and companies’ decisions and incentives on productivity, innovation and export competitiveness.
JEL: C54; O30; O47; I25
From left Artjom Saia, Heili Hein, Jelena Matina, Simona Ferraro, Katriin Ranniku, Kadri Männasoo, Hakan Berber, Helery Tasane, Juan Carlos Cuestas
Economic performance: integration, governance and policy
Group head: Karsten Staehr
Members: Juan Carlos Cuestas, Tairi Rõõm, Merike Kukk, Simona Ferraro, Kersti Harkmann (on parental leave), Krista Kollo (on parental leave), Natalia Levenko, Nicolas Reigl, Orsolya Soosaar, Signe Rosenberg
The research group studies contemporary and policy-relevant issues within macroeconomics, international finance, public economics and household economics. The topics include economic change, business cycle fluctuations and linkages between the real economy and financial markets. The research provides a deeper understanding of factors that are important for the behaviour of households and firms and for the performance of the overall economy. The research may inform national and European policy-making that seeks to attain sustainable and stable economic development.
The research areas include contemporary issues in empirical macroeconomics, chiefly consumption behaviour, sectoral linkages, convergence processes and fiscal policy (JEL: E). . The research group also studies issues in public economics, in particular tax systems and the informal economy (JEL: H). Regional and European integration are the focus of studies on trade, structural change and business development (JEL: F1).