Diana Eerma

Competition Policy in Infrastructure Specific Sectors in the Estonian Case: Entwining of Natural Monopoly and Universal Service

There is a growing consensus that the successful development of infrastructure specific sectors depends a lot on the adaption of appropriate public policies and the effective implementation of these policies. The way how regulation is implemented plays an important role in infrastructure development and use. In the article the means of regulating economic policy in Estonia are systematized and evaluated looking at practices regarding both natural monopoly and universal service.

Welfare-oriented Social Accounting

This article highlights the methodological basis of the welfare-oriented social accounting developed by the authors. It comprises an ex-post analysis and a bookkeeping approach to determine the welfare contribution of an economic unit by using the willingness to pay approach to evaluate flows and stocks. This social accounting is demonstrated for the Faculty of Economics and Business Administration of the University of Tartu in Estonia for the year 2006. The authors show how the current social net benefit and the social capital for that year are determined. Extensions of the welfare-oriented accounting to the whole university, to a type of social benefits and social costs accounting, an assessment center accounting, a type of product unit oriented social accounting, and a shareholder oriented social accounting are discussed. Management applications for faculty are mentioned. The authors discuss the possibilities and limits of welfare-oriented social accounting as well.