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Bank Of Estonia
The Bank of Estonia () is the national central bank for Estonia within the Eurosystem. It was the Estonian central bank from 1919 to 2010 (albeit with a long suspension between 1940 and 1989), issuing the kroon. Name Like other central banks, the Bank of Estonia refers to itself in its native language even in English-speaking contexts. History Interwar period The bank was established on 24 February 1919 by the provisional government of Estonia following the independence of Estonia. In 1921, Eesti Pank was made the national bank and given the duty of printing the Estonian mark. The Bank of Estonia was restructured under the conditions of the stabilization loan coordinated by the Economic and Financial Organization of the League of Nations. A new version of the Statutes was approved in 1927, according to which Eesti Pank became an independent note-issuing central bank with limited functions. The main tasks of the bank remained to guarantee the value of the money throug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tallinn
Tallinn is the capital city, capital and List of cities in Estonia, most populous city of Estonia. Situated on a Tallinn Bay, bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, it has a population of (as of 2025) and administratively lies in the Harju County, Harju ''Counties of Estonia, maakond'' (county). Tallinn is the main governmental, financial, industrial, and cultural centre of Estonia. It is located northwest of the country's second largest city, Tartu, however, only south of Helsinki, Finland; it is also west of Saint Petersburg, Russia, north of Riga, Latvia, and east of Stockholm, Sweden. From the 13th century until the first half of the 20th century, Tallinn was known in most of the world by variants of its other historical Names of Tallinn in different languages, name Reval. “Reval” received Lübeck law, Lübeck city rights in 1248; however, the earliest evidence of human settlement in the area dates back nearly 5,000 years. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint-stock Company
A joint-stock company (JSC) is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern-day corporate law, the existence of a joint-stock company is often synonymous with incorporation (possession of legal personality separate from shareholders) and limited liability (shareholders are liable for the company's debts only to the value of the money they have invested in the company). Therefore, joint-stock companies are commonly known as corporations or limited companies. Some jurisdictions still provide the possibility of registering joint-stock companies without limited liability. In the United Kingdom and in other countries that have adopted its model of company law, they are known as unlimited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeffrey Sachs
Jeffrey David Sachs ( ; born November 5, 1954) is an American economist and public policy analyst who is a professor at Columbia University, where he was formerly director of The Earth Institute. He worked on the topics of sustainable development and economic development. Sachs is director of the Center for Sustainable Development at Columbia University and president of the UN Sustainable Development Solutions Network. He is an SDG Advocate for United Nations (UN) Secretary-General António Guterres on the Sustainable Development Goals (SDGs), a set of 17 global goals adopted at a UN summit meeting in September 2015. From 2001 to 2018, Sachs was special advisor to the UN Secretary General, and held the same position under the previous UN Secretary-General Ban Ki-moon and prior to 2016 a similar advisory position related to the earlier Millennium Development Goals (MDGs), [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Economy
A market economy is an economic system in which the decisions regarding investment, production, and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production. Market economies range from minimally regulated free market and '' laissez-faire'' systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vnesheconombank (USSR)
The Foreign Trade Bank of the USSR (, abbreviated Внешторгбанк, Latinized Vneshtorgbank) was the monopoly state credit institution for trade finance in the Soviet Union. It was initially established in 1922 as the Russian Commercial Bank (Рускомбанк / Roskombank) and reorganized as Vneshtorgbank in 1924. In 1988, it was reorganized as the Bank for Foreign Economic Affairs of the USSR () or Vnesheconombank. With the dissolution of the Soviet Union, Vnesheconombank's operations in the post-Soviet states became new institutions such as in Belarus, the Bank of Estonia, Alem Bank in Kazakhstan, or Ukreximbank in Ukraine. The Russian Vnesheconombank defaulted in 1992 and, after multiple restructurings, eventually became VEB.RF. Roskombank The Russian Commercial Bank was the first foreign-trade bank established in the Russian Soviet Republic and was allowed to carry out all common banking transactions, including transactions in foreign currencies and precious ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank Of The USSR
The State Bank of the USSR (), known as the State Bank of the RSFSR from 1921 to 1923, and commonly referred to as Gosbank (), was the central bank and main component of the single-tier banking system of the Soviet Union. It replaced the State Bank of the Russian Empire, and following the dissolution of the Soviet Union, it was absorbed by the Central Bank of Russia in 1992. Gosbank was one of the three main Soviet economic authorities, the other two being Gosplan (the State Planning Committee) and Gossnab (the State Committee for Material Technical Supply). It closely collaborated with the Ministry of Finance (Soviet Union), Soviet Ministry of Finance to prepare the national state budget. History The foundation of the bank was part of the implementation of the New Economic Policy (NEP), following the monetary dislocation and barter economy during the Russian Civil War. On , the All-Russian Central Executive Committee passed a resolution for the founding of the State Bank of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. It is generally only mandatory to recognize the payment of legal tender in the discharge of a monetary debt from a debtor to a creditor. Sellers offering to enter into contractual relationship, such as a contract for the sale of goods, do not need to accept legal tender and may instead contractually require payment using electronic methods, foreign currencies or any other legally recognized object of value. Coins and banknotes are usually defined as legal tender in many countries, but personal cheque, checks, credit c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soviet Ruble
The ruble or rouble (; rus, рубль, r=rubl', p=rublʲ) was the currency of the Soviet Union. It was introduced in 1922 and replaced the Russian ruble#Imperial ruble (1704-1922), Imperial Russian ruble. One ruble was divided into 100 kopecks ( – ''kopeyka'', ''kopeyki''). Soviet banknotes and coins were produced by the Federal State Unitary Enterprise (or Goznak) in Moscow and Leningrad. In addition to regular cash rubles, other types of rubles were also issued, such as several forms of ''convertible ruble'', transferable ruble, clearing ruble, Vneshtorgbank cheque, etc.; also, several forms of virtual rubles (called "cashless ruble", ) were used for inter-enterprise accounting and international settlement in the Comecon zone. In 1991, after the dissolution of the Soviet Union, the Soviet ruble was replaced by the first Russian ruble by 1993, and continued to be used in eleven post-Soviet states, forming a "ruble zone" until 1993. Etymology The word ''ruble'' is derived ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank Of The Soviet Union
The State Bank of the USSR (), known as the State Bank of the RSFSR from 1921 to 1923, and commonly referred to as Gosbank (), was the central bank and main component of the single-tier banking system of the Soviet Union. It replaced the State Bank of the Russian Empire, and following the dissolution of the Soviet Union, it was absorbed by the Central Bank of Russia in 1992. Gosbank was one of the three main Soviet economic authorities, the other two being Gosplan (the State Planning Committee) and Gossnab (the State Committee for Material Technical Supply). It closely collaborated with the Soviet Ministry of Finance to prepare the national state budget. History The foundation of the bank was part of the implementation of the New Economic Policy (NEP), following the monetary dislocation and barter economy during the Russian Civil War. On , the All-Russian Central Executive Committee passed a resolution for the founding of the State Bank of the Russian Soviet Federative Socialis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Occupation Of The Baltic States
The occupation of the Baltic states was a period of annexation of Estonia, Latvia and Lithuania by the Soviet Union from 1940 until its Dissolution of the Soviet Union, dissolution in 1991. For a period of several years during World War II, Nazi Germany occupied the Baltic states after it invaded the Soviet Union in 1941. The initial Soviet occupation of the Baltic states (1940), Soviet invasion and occupation of the Baltic states began in June 1940 under the Molotov–Ribbentrop Pact, made between the Soviet Union and Nazi Germany in August 1939 before the outbreak of World War II. The three independent Baltic states, Baltic countries were annexed as constituent Republics of the Soviet Union in August 1940. Most Western countries did not recognise this annexation, and considered it illegal. In July 1941, the German occupation of the Baltic states during World War II, occupation of the Baltic states by Nazi Germany took place, just weeks after its Operation Barbarossa, invasion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illiquid
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price. Liquidity involves the trade-off between the price at which an asset can be sold, and how quickly it can be sold. In a liquid market, the trade-off is mild: one can sell quickly without having to accept a significantly lower price. In a relatively illiquid market, an asset must be discounted in order to sell quickly. A liquid asset is an asset which can be converted into cash within a relatively short period of time, or cash itself, which can be considered the most liquid asset because it can be exchanged for goods and services instantly at face value. Overview A liquid asset has some or all of the following features: it can be sold rapidly, with minimal loss of value, anytime within market hours. The essential characteristic of a liquid market is that there are always ready and wil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Capital
In accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product. In economics, fixed capital is a type of capital good that as a real, physical asset is used as a means of production which is durable or isn't fully consumed in a single time period.Varri P. (1987) Fixed Capital. In: Durlauf S., Blume L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. "fixed capital", '' The New Palgrave: A Dictionary of Economics'', 1st Editio/ref> It contrasts with circulating capital such as raw materials, operating expenses etc. The concept was first theoretically analyzed in some depth by the economist Adam Smith in The Wealth of Nations (1776) and by David Ricardo in On the Principles of Political Economy and Taxation (1821). Ricardo studied the use of machines in place of labor and concluded that workers' fear of technology replacing them might be justified. Thus fixed capital is that portion of the total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
