Estonian money market

Abstract

Operating since 1993, Estonia's budding money market today boasts a fairly sophisticated interbank money market.Its non-interbank money market also continues to develop rapidly; in coming years short-term money flows between enterprises will increase as Estonia's enterprise sector grows.Estonia's money market is tiny in comparison to major money markets, and standard instruments such as T-bills are not used at all.Even so, Estonia's money market is, by far, the most developed in the Baltic region.Given the present high growth in Estonian banking and industry, turnover in the Estonian money market can well be expected to grow and further integrate itself with global money markets. Keywords:Money market, Estonia