turupõhisele

turupõhisele is an Estonian term that translates to "market-based" or "market-oriented" in English. It refers to an approach or system that relies on market mechanisms and principles to function or be organized. This concept is often applied in economic contexts, particularly when discussing economic reforms or policy shifts.

When an economy is described as turupõhisele, it signifies a move away from centrally planned or state-controlled systems towards one where supply and demand, competition, and private enterprise play a significant role. This can involve privatization of state-owned assets, deregulation, and the encouragement of free trade. The goal of such a transition is typically to improve efficiency, foster innovation, and stimulate economic growth through market forces.

In a broader sense, turupõhisele can also describe specific sectors or industries that operate according to market principles. For example, a turupõhisele healthcare system would imply that services are largely provided by private entities and patients have some choice, influenced by factors like price and quality, rather than being solely determined by government allocation. The term emphasizes the importance of market signals and incentives in guiding decision-making and resource allocation.