Urmas Varblane

Urmas Varblane (born 20 July 1961) is an Estonian economist and academic. He is Professor of International Business and Innovation at the University of Tartu and a member of the Estonian Academy of Sciences (elected 2009). In 2023, he became chair of the supervisory board of the Bank of Estonia (Eesti Pank), appointed by the Riigikogu.

Early life and education Urmas Varblane was born in Mõisaküla in Viljandi County and studied at the University of Tartu; he received a Cand.Sc. (PhD-equivalent) in economics in 1989 and became a professor in 2001.

Academic career Varblane is listed by the University of Tartu as academician and Professor of International Business, affiliated with the School of Economics and Business Administration and the Chair of International Business and Innovation. The university profile lists his research interests as centred on foreign direct investment and the internationalisation of firms. In 2003, the Estonian government decision on national research awards lists Varblane as the recipient in social sciences for a research cycle on the effects of foreign direct investment on the competitiveness of transition economies.

Public service Varblane has held roles at the interface of academia and public policy. The International Centre for Defence and Security notes that he served on the Economic Committee of the President of Estonia (2002–2006) and later held positions connected with Eesti Pank and other policy institutions.

He has been involved with Estonia's Fiscal Council (Eesti eelarvenõukogu), which was established in 2014; the council's background page lists Varblane among the first composition appointed in May 2014 and confirmed again in 2019. ERR has also described Varblane as a member of the Fiscal Council in its reporting on council leadership changes. Varblane has written in that capacity on the council's website.

In 2023, the Riigikogu appointed him chair of the supervisory board of the Bank of Estonia, with reporting in both the Riigikogu's English-language sitting review and ERR's English service. 2022 – Edgar Kant Medal in social sciences (Estonian Academy of Sciences). 2024 – University of Tartu Grand Medal (the university's highest award for members), with the senate citation emphasising his bridge-building role between universities and entrepreneurship and his contribution to developing the University of Tartu Asia Centre.