erastamiseni

Erastamiseni is a term that refers to the process of privatization in Estonia. It describes the legislative and practical measures taken to transfer state-owned assets into private ownership. This process was a significant part of Estonia's transition from a centrally planned economy to a market economy following the re-establishment of its independence in 1991.

The erastamiseni program aimed to create a class of private owners, stimulate economic activity, and improve the efficiency of enterprises that were previously under state control. The privatization efforts involved a variety of methods, including direct sales, voucher privatization, and public auctions. Key sectors that underwent privatization included telecommunications, energy, industry, and agriculture.

The success of erastamiseni is often debated, with proponents highlighting its role in fostering economic growth and attracting foreign investment. Critics, however, have raised concerns about issues such as asset stripping, the concentration of ownership, and the social impact of job losses in some formerly state-owned enterprises. Nevertheless, the erastamiseni process fundamentally reshaped Estonia's economic landscape and is considered a crucial element of its post-Soviet economic transformation.