Estonian Discussions on Economic Policy Eesti majanduspoliitilised väitlused: Majanduspoliitika teooria ja praktika. <br />Estnische Gespräche über Wirtschaftspolitik: Theorie und Praxis der Wirtschaftspolitik.<br/> In English bis 2015: Discussions on Estonian economic policy: Theory and practice of economic policy. MATTIMAR OÜ en-US Estonian Discussions on Economic Policy 1736-5597 The publication Estonian Discussions on Economic Policy uses the Creative Commons Attribution 4.0 License. With the delivery of a paper, the author grants to the Board also the right to publish the paper in the journal. The journal has set no obstacles or prohibitions to the authors for the future, and according to the current practice, authors subsequently use their paper as they consider it appropriate. Authors are personally responsible for the content, correct spelling and formatting of their publications. Ettevõtluse arengut mõjutavad tegurid Eestis (Põhja-Sakala valla näitel) The article covers the study conducted for a graduation paper of the University of Tartu in Estonia, in the academic year 2018/2019, on factors influencing business development based on the case of the North Sakala Rural Municipality located in Central Estonia. Based on extensive sources of literature, the essence and objectives of regional policy, and the impact of regional development policy and the administrative reform on rural business activities are brought out. Also an overview of the impact of the administrative reform on local government as the developer of business environment and on business development is provided. Rural business activities and the factors influencing them are treated separately, based on the case of the North Sakala Rural Municipality. The survey conducted among heads of businesses of the North Sakala Rural Municipality, and the analysis of its results made it possible to draw a lot of conclusions and make suggestions. Proceeding from the results of the quantitative survey conducted among heads of businesses, the respective proposals have also been submitted to the North Sakala Rural Municipality Government. Tõnu Aavasalu Matti Raudjärv Copyright (c) 2019-12-16 2019-12-16 27 3-4 55 72 10.15157/tpep.v27i3-4.16226 Debt relief for the EMU Countries: a Chance to Restore Europe’s Power and to Stabilize the Euro Government spending on bailing out banks and financing a variety of stimulus packages following the US real estate and financial crisis led to a sharp increase in the already very high level of public debt also of the member countries of the European Monetary Union (EMU). Countries such as Greece, Italy, Belgium, France and even Germany in particular depend on very low or at least low interest rates to stabilize their financial situation. Thus, the central reason for the European Central Bank's low interest rate policy, which has been in place for almost 10 years, is to provide the highly indebted countries of the EMU with a significant reduction in the interest burden in favor of a solution to the debt problem: giving time for a lot of necessary reforms to increase economic development. But none of this has succeeded in the last 10 years. Instead, the budgetary situation in the euro countries is getting worse, the disparities in economic development are increasing rather than diminishing, thereby endangering the stability of the euro and thus the future of the single currency. There is an urgent need for sustained higher net investments in nearly all sectors of all countries from Greece to Germany: instead, net investment in the countries of the EMU is clearly decreasing and Europe is in danger of being left behind not only by the two economic powers USA and China. This outlines a problem that is as pressing as it is topical: the question of how to restore Europes’ economic power. The key lies in the question of how can we be able to solve the crippling debt problem of European countries quickly and sustainably. The answer given by the discussion paper is a kind of debt relief, implemented as a conversion of a relevant amount of the government bonds held by the ECB. Conversion means extending the repayment to 80-100 years and the interest rate to be set very low. Of course a binding agreement is inevitable that net new debt can only be taken up to the maximum value of the GDP growth of a certain period. Only countries can participate in the debt conversion which commit themselves to making higher net investments to be specified more precisely, to carry out reforms especially concerning the efficiency of taxation, respectively set lower and upper limits for some taxes of the central government, and harmonize them within narrow ranges. Also it is necessary to reasonably reduce and largely deregulate bureaucracy and put an end to shadow economy and corruption. By regaining financial strength as a result of a debt conversion, which is only possible within a strong supranational framework, the advantages of membership in the European Monetary Union will once again become evident, and the European Union can again become a shining example of freedom and prosperity, the way that Robert Schuman did formulate as a vision in the declaration of May 9, 1950. Wolfgang Eibner Copyright (c) 2019-12-16 2019-12-16 27 3-4 73 98 10.15157/tpep.v27i3-4.16227 EU-Erweiterung in Krisenzeiten? Zur Beitrittsreife Der Beitrittskandidaten vom Westbalkan The topicality of the paper’s subject “EU accession of the Western Balkan Countries” results from the fact that despite the unresolved crises in the EU, in autumn 2019 the EU member states will decide whether to open accession negotiations with the Western Balkan states of North Macedonia and Albania. Due to doubts concerning the readiness of accession of these countries, the discussion on an alternative option for EU integration between full membership and non-membership for countries that are only partially ready for accession is reviving. The focus here is particularly on economic integration. The corresponding objective of the paper is to clarify whether from an economic point of view doubts about the accession readiness of northern Macedonia and Albania, as well as of the other Western Balkan accession candidates Montenegro and Serbia, are justified. The research tasks in this contribution are reflected in the following modules: drawing conclusions from evaluations by the EU, a statistical analysis of the economic development in the candidate countries, the simulation of convergence processes for each Western Balkan state, the evaluation of international country rankings and finally the execution of a cost analysis of the EU accession of the Western Balkan states. Klaus Schrader Claus-Friedrich Laaser Copyright (c) 2019-12-16 2019-12-16 27 3-4 99 127 10.15157/tpep.v27i3-4.16228 Haldusreformi mõju avalike teenuste osutamisel Eesti väikeasulates (Jõgeva Maakonna väikeasulate näitel) The article covers the study conducted for a graduation paper of the University of Tartu in Estonia, in the academic year 2018/2019, on the impact of the administrative reform on the provision of public services in Estonia based on the case of the small settlements of the Jõgeva County located in East Estonia. Based on extensive sources of literature, the essence of the local government and public services and the need for their provision in Estonia in connection with the administrative reform are brought out. Organisation of the provision of public services by local governments in Estonian small settlements is described. A survey is conducted in municipalities in the course of the study. The conclusions drawn on the basis of the results of the survey make it possible to make proposals to local governments for increasing the number of public services, extending the provision of services and raising their quality Karita Lepiste Matti Raudjärv Copyright (c) 2019-12-16 2019-12-16 27 3-4 128 156 10.15157/tpep.v27i3-4.16229 Employee Development Through Group Coaching and Its Applications in Organisations The aim of the paper is to analyse one particular group coaching method and its implementation; to generalize the results of the authors’ research on the use of group coaching in order to evaluate its impact on employee characteristics, performance and development. We analyse the method and implementation of group coaching to help develop an evidence-based approach to this method. Economic point developing of organizations and teams has led us to pay main attention to intra-organizational cooperation and problem solving. That is crucial to achieving economic results of private and public organizationst. In 2017–2019, trainings and studies were carried out in group coaching with 445 leaders and specialists from the private and public sector in Estonia. The authors conducted interviews and questionnaires after group coaching sessions and used the results of the group coaching participants’ reports. An analysis of the data indicates that group coaching enables many benefits including problem solving, self-awareness, self-confidence and other person skills. It has also shown to strengthen employee self-reflection and develop cooperation skills and a better understanding of the aims and nature of their organization. Kulno Türk Kaupo Saue Copyright (c) 2019-12-16 2019-12-16 27 3-4 157 173 10.15157/tpep.v27i3-4.16230 SCOPUS’e oluline tunnustus meie teadusajakirjale. Eine Bedeutende Anerkennung an unsere Wissenschaftszeitschrift durch SCOPUS Important recognition from SCOPUS to our scientific Journal. Matti Raudjärv Copyright (c) 2019-12-16 2019-12-16 27 3-4 7 10