scholarly journals FOREIGN INVESTMENTS AS DEVELOPMENT FACTOR FOR OVERCOMING ECONOMIC STAGNATION IN THE REPUBLIC OF MACEDONIA

2013 ◽  
Vol 6 (2) ◽  
Author(s):  
Nada Petrusheva ◽  
Aleksandar Nikolovski
Keyword(s):  
Economic Growth ◽  
Foreign Capital ◽  
Added Value ◽  
Living Standard ◽  
Foreign Direct Investments ◽  
Western Balkans ◽  
Republic Of Macedonia ◽  
Economic Stagnation ◽  
The Republic

Amongst economists there is a broad consensus that in order to overcome economic stagnation the economic growth model should be more directed towards increasing investments and export and less reliant on consumption. The stable commitment towards improving the business ambient, the implementation of structural reforms in the field of competitiveness, the export sector as well as investments in infrastructure and education are the fundamental prerequisites to be realized for the opening of perspectives in the overall social development of the countries in the Western Balkans, including the Republic of Macedonia. The dominant driving force of economic growth – investments (foreign and domestic) have not been sufficiently implemented so that structural economic problems such as the low GDP growth rate, unsatisfactory export, unfavourable industrial structure have been present during the entire periodsince the independence of the Republic of Macedonia. Unlike other countries in Middle and Eastern Europe such as Poland, the Czech Republic and Slovakia in which foreign capital was steered towards manufacturing higher added value products, in the Republic of Macedonia investment entered mainly the trade and the banking industry, and quite less in manufacturing.Lacking own significant capacities for considerable increase of the gross-investment rate, assets sources for investments must be found in foreign accumulation, particularly via foreign direct investments so as not to increase the degree indebting the country. The global economic and financial crisis which spread over Europe in the last years has motivated the countries in the Western Balkans, including the Republic of Macedonia, to engage into a more active and more aggressive attraction of foreign capital. Foreign direct investments are considered the highest economic priority for long-term development, whereas the benefits to the national economy are multiple and influence the reduction of unemployment, increase of export, inflow of new technology, knowledge and skills, as well as improvement of the population’s living standard. However, despite the commitment, reforms and activities undertaken to attract FDI, the countries of the Western Balkans are facing remarks from investors for having an insufficiently reformed judicial system, bureaucratic issues, inefficient public administration and corruption. Therefore, it is essential to work continually on improving the macroeconomic environment and implement a long-term strategy to attract FDI through active policies.

scholarly journals EXPORTS, FOREIGN DIRECT INVESTMENTS AND ECONOMIC GROWTH IN THE REPUBLIC OF CROATIA // IZVOZ, INOZEMNA IZRAVNA ULAGANJA I EKONOMSKI RAST U REPUBLICI HRVATSKOJ

2017 ◽  
Vol 14 (2) ◽  
Author(s):  
Sanja Franc
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Growth And Development ◽  
Direct Investment ◽  
Recipient Country ◽  
Free Movement ◽  
Foreign Direct Investments ◽  
The Republic ◽  
Free Movement Of Capital

Economic growth, export and foreign direct investment have been an important research subject for many years. The argument about the role of export as one of the main deterministic factors of economic growth has its roots in classical trade theories. Furthermore, according to the neoclassical theory, long-term economic growth is the consequence of an increase in exogenous factors such as increased labor force or technological progress. The export-led growth strategy of a country aims to provide incentives for the export of goods through various economic policy measures. Its goal is to increase the production of goods and services that can compete in the global market, use advanced technology and provide foreign exchange revenue needed to import capital goods. The emergence of new theoretical models that emphasize the importance of endogenous factors for economic growth has enabled the inclusion of foreign direct investment into analysis as one of growth determinants. Free movement of capital in the past was recorded only in a few countries and several sectors, and usually the capital flows followed the trade flows. Today there is a noticeable global trend of proliferation of free movement of capital. What is more, foreign direct investments have gained importance as desirable source of capital, especially in developing countries among which a strong competition for attracting such investments has developed. Foreign direct investments represent a specific form of capital because they imply a long-term interest as well as a certain share of ownership that ensures voting rights and participation in the management of the company. There is a vast literature dealing with the effects of foreign direct investment on the recipient country. It is generally accepted that these effects positively contribute to economic growth and development due to the inflow of fresh capital and spillover effects that depend on the absorption capacity of the recipient country. In conclusion, it is to be expected that liberalization of international trade and export performance, as well as the liberalization of capital movements and the inflow of foreign direct investment have a positive impact on the economic growth of a country. The aim of this paper is to examine the correlation between export, foreign direct investments and economic growth on the example of the Republic of Croatia. The conclusions of the research are of use in adopting appropriate policies and strategies for the growth and development of small open economies such as the Republic of Croatia.

scholarly journals Do foreign direct investments accelerate economic growth? The case of the Republic of Macedonia

2016 ◽  
Vol 1 (1) ◽  
pp. 71 ◽  
Author(s):  
Selma Kurtishi Kastrati ◽  
Veland Ramadani ◽  
Léo Paul Dana ◽  
Vanessa Ratten
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investments ◽  
Republic Of Macedonia ◽  
The Republic

Analysis of approaches to assessing changes in welfare and real GDP growth during digitalization of the economy

2022 ◽  
pp. 126-146
Author(s):  
S. G. Marichev
Keyword(s):  
Economic Growth ◽  
Economic Effect ◽  
Added Value ◽  
Gdp Growth ◽  
Digital Goods ◽  
Relative Ease ◽  
Real Gdp ◽  
Digital Services ◽  
Republic Of Bashkortostan ◽  
The Republic

The paper attempts to estimate, in monetary terms, the volume of free digital services in GDP while assessing the contribution of digitalization to changes in welfare and economic growth. Approaches to such an estimation are analyzed and criticized. In particular, the calculation of the added value created in the digital sector does not properly reflect the economic effect of digitalization. Alternative auxiliary methods for estimating the contribution of digitalization to GDP growth are considered: the creation of satellite accounts of the digital economy within the SNA; the categorization and calculation of “purely” digital goods. The paper analyzes the methodology of calculating GDP which takes into account consumer surpluses from the use of free digital goods. The advantages of this methodology are outlined, including the consideration of a significant part of the digital sector of the economy in the calculation of GDP, as well as the relative ease of its use. This methodology was tested by drawing on the example of the Republic of Bashkortostan.

scholarly journals FEATURES OF DEVELOPMENT OF TOURISM IN GEORGIA AS AN INDUSTRY CONTRIBUTING TO ECONOMIC GROWTH OF THE COUNTRY

2019 ◽  
Vol 29 (2) ◽  
pp. 279-289
Author(s):  
L.V. Detochenko
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Tourism Industry ◽  
Gdp Per Capita ◽  
Tourist Destinations ◽  
Transport Component ◽  
Tourist Flows ◽  
Per Capita ◽  
The Republic

The role and place of the tourism industry in the economic complex of Georgia are considered; the conclusion is made about the “tourist miracle” taking place in the country, which is a factor of the economic growth of the republic. The differences between the concepts of “foreign visitors” and “foreign tourists” are presented. The increase in the contribution of the tourism industry and related industries involved in the tourism industry in the creation of the gross domestic product of the country, its impact on the growth of the Georgian budget and GDP per capita, the average monthly wage is shown. The conclusion about the need to increase the share of medium and long-term tourists among foreign visitors and tourists in the country is justified. The problems of the return of tourists, the long-term stay in Georgia, the differences of the countries-generators of tourist flows by these indicators have been studied. The changes in work and the prospects of various types of transport for the delivery of tourists to Georgia are analyzed, the measures to improve the tourist transport component are proposed. The correlation between the number of tourist arrivals and the average cost of tourists visiting Georgia from different countries is shown and the economic profitability of attracting Russian tourists, capable of filling all the tourist destinations of the country, contributing to the “tourist miracle” of Georgia is considered.

scholarly journals THE IMPACT AND THE ROLE OF THE SMALL AND MEDIUM ENTERPRISES ON THE EMPLOYMENT IN THE REPUBLIC OF MACEDONIA

2018 ◽  
Vol 28 (1) ◽  
pp. 105-110
Author(s):  
Snezana Bardarova ◽  
Marija Magdincheva-Shopova ◽  
Monika Markovska ◽  
Bozhidar Milenkovski
Keyword(s):  
Economic Growth ◽  
Small And Medium Enterprises ◽  
High Rate ◽  
Small Enterprise ◽  
Small Enterprises ◽  
Republic Of Macedonia ◽  
Area Of Interest ◽  
The Republic ◽  
Medium Enterprises ◽  
The Impact

Current developments in the global and national economics point to a number of problems faced by real entities in the real sector, and as a special area of interest for the scientific public there is a need to provide conditions for the smooth running of the reproduction processes in the enterprise and the realization the positive results of the operation. Enterprises are drivers of inclusive economic growth in the Republic of Macedonia and in creating productive and sustainable jobs.The new conception of the small enterprise as a carrier and engine of economic development is quite persuasive with its economic logic and reaffirms the small enterprise as a significant economic sector. The activities within the small enterprises are aimed at intensifying the results of the work by achieving a balance between objective possibilities and good working principles. The monitoring of the small enterprise, through the prism of its influence on economic growth and development, rejects the traditional view for small enterprises as security guards.The SME sector is a driver of inclusive economic growth in Macedonia and the creation of sustainable jobs increasing productivity. It also does not agree with the notion that small enterprises are economically inefficient organisms.With the third technological revolution in the countries with a developed market economy, the domination of the so-called. small economy, that is, the sector of small and medium enterprises. Today, small enterprises have a growing number of supporters who believe that small enterprises are carriers of innovation and entrepreneurship and are able to react quickly to changes in the environment. For years, the Republic of Macedonia has faced a high rate (29%, June 2013) of general unemployment, which remains a key challenge for stabilizing the economic and social development of the country. The subject of research in this paper is focused on conducting analysis of the active enterprises in the Republic of Macedonia by size, by sector and by number of employees, as well as analysis of the activity of the population and employment by sectors and by type of ownership of the enterprise in the period from 2013-2017.

scholarly journals The Framework Convention for the Protection of National Minorities and Internalization: Lessons from the Western Balkans

2021 ◽  
Vol 46 (1) ◽  
pp. 1-40
Author(s):  
Elizabeth Craig
Keyword(s):  
Comparative Analysis ◽  
Western Balkans ◽  
Divided Societies ◽  
Precise Form ◽  
Community Rights ◽  
National Minorities ◽  
The Republic ◽  
Domestic Law

Abstract The precise form of internalization of the provisions of the Council of Europe’s Framework Convention for the Protection of National Minorities in domestic law is crucial in ensuring its long-term effectiveness. Experiences in the Western Balkans raise important questions about the role of minority (or community) rights legislation in deeply divided societies. This article uses the case-studies of Bosnia and Herzegovina, Kosovo and the Republic of North Macedonia to highlight key themes and limitations that have emerged. Comparative analysis reveals a surprising divergence of approaches to internalization in the region. The article further demonstrates that the ‘nation-cum-state paradigm’ remains prevalent, despite the premise of universality. It argues that such legislation can play an important symbolic and practical role, but that legal internalization needs to be seen as an ongoing process. It concludes that attention needs to be given to ensuring the continued particularization and adaptation of such legislation in light of both the limitations and changing circumstances, providing a key lesson also for other divided societies.

scholarly journals Long-term historical trends in air pollutant emissions in Asia: Regional Emission inventory in ASia (REAS) version 3.1

2019 ◽  
Author(s):  
Junichi Kurokawa ◽  
Toshimasa Ohara
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
Emission Inventory ◽  
Air Pollutant ◽  
Pollutant Emissions ◽  
Anthropogenic Sources ◽  
Gridded Data ◽  
Relative Contribution ◽  
The Republic

Abstract. A long-term historical emission inventory of air and climate pollutants in East, Southeast, and South Asia from 1950–2015 was developed as the Regional Emission inventory in ASia version 3.1 (REASv3.1). REASv3.1 provides details of emissions from major anthropogenic sources for each country and its sub-regions and also provides monthly gridded data with 0.25° × 0.25° resolution. The average total emissions in Asia during 1950–1955 and from 2010–2015 (growth rates in these 60 years) are as follows: SO2: 3.15 Tg, 42.4 Tg (13.5); NOx: 1.83 Tg, 47.6 Tg (26.0); CO: 62.2 Tg, 319 Tg (5.13); non-methane volatile organic compounds: 9.14 Tg, 61.8 Tg (6.77); NH3: 7.99 Tg, 31.3 Tg (3.92); CO2: 1.12 Pg, 18.3 Pg (16.3); PM10: 5.76 Tg, 28.4 Tg (4.92); PM2.5: 4.52 Tg, 20.3 Tg (4.50); black carbon: 0.751 Tg, 3.38 Tg (4.51); and organic carbon: 2.62 Tg, 6.92 Tg (2.64). Clearly, all the air pollutant emissions in Asia increased significantly during these six decades, but situations were different among countries and regions. Due to China's rapid economic growth in recent years, its relative contribution to emissions in Asia has been the largest. However, most pollutant species reached their peaks by 2015 and the growth rates of other species was found to be reduced or almost zero. On the other hand, air pollutant emissions from India showed an almost continuous increasing trend. As a result, the relative ratio of emissions of India to that of Asia have increased recently. The trend observed in Japan was different from the rest of Asia. In Japan, emissions increased rapidly during 1950s–1970s, which reflected the economic situation of the period; however, most emissions decreased from their peak values, which were approximately 40 years ago, due to the introduction of regulations and laws for air pollution. Similar features were found in the Republic of Korea and Taiwan. In the case of other Asian countries, air pollutant emissions generally showed an increase along with economic growth and motorization. Trends and spatial distribution of air pollutants in Asia are becoming complicated. Datasets of REASv3.1, including table of emissions by countries and sub-regions for major sectors and fuel types, and monthly gridded data with 0.25° × 0.25° resolution for major source categories are available through the following URL: http://www.nies.go.jp/REAS/.

scholarly journals Export Earnings, Capital Instability and Economic Growth in South Asia

2003 ◽  
Vol 8 (1) ◽  
pp. 65-89
Author(s):  
Muhammad Aslam Chaudhary ◽  
Amjad Naveed
Keyword(s):  
Economic Growth ◽  
South Asian ◽  
Foreign Capital ◽  
Developed Countries ◽  
Export Diversification ◽  
Asian Countries ◽  
The Impact ◽  
The Relationship

During the last two decades the role of international trade and flow of foreign capital have received considerable attention in the literature. Various studies have examined the impact of export instability and capital instability on economic growth in less developed countries.1 Empirical evidence supports the hypothesis of a deleterious impact of export instability on economic growth. However, some studies also indicated that the relationship was unstable but positive with economic growth.2 Yet there are no systematic empirical investigations into the implied links between export diversification and long-term economic growth, particularly in the case of South Asian countries. The major concern regarding export instability is that it retards economic growth.

scholarly journals INNOVATION CLUSTERS AS AN ASSOCIATION MODEL OF THE SMALL AND MEDIUM-SIZED ENTERPRISES: THE CONTEXT OF REGIONAL DEVELOPMENT

2020 ◽  
Author(s):  
Ivana Kostadinović ◽  
◽  
Sunčica Stanković ◽  
Keyword(s):  
Regional Development ◽  
Small And Medium Enterprises ◽  
Empirical Studies ◽  
Added Value ◽  
Western Balkans ◽  
Services Sector ◽  
High Level ◽  
Medium Enterprises ◽  
Innovation Clusters

Numerous empirical studies have long been indicated the importance of business infrastructure for economic and regional development. Ensuring long-term economic growth, as well as the creation and development of small and medium enterprises (SMEs), as key drivers of the development of modern economies, requires a high level of efficiency and flexibility of business infrastructure. In the Western Balkans, the absence of a coherent business infrastructure network is the biggest obstacle to the rapid growth of their economies. For this reason, the activities of the Western Balkan governments in the future should be aimed at developing a network of business infrastructure in order to increase the share of the knowledge and services sector with high added value in the economic structure. This paper aims to point out the role of innovative clusters as a model of associating SMEs in the context of regional development.

scholarly journals The Effects of FDI on Domestic Investments in Western Balkans

2021 ◽  
Vol 92 ◽  
pp. 07059
Author(s):  
Bilal Sucubasi ◽  
Borce Trenovski ◽  
Berkan Imeri ◽  
Gunter Merdzan
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Cross Sections ◽  
Value Added ◽  
Foreign Direct Investments ◽  
Western Balkans ◽  
Investment Policies ◽  
Technological Level ◽  
Domestic Investments ◽  
Trade And Investment

Research background: In order to contribute to economic growth, inward foreign direct investments (FDI) need to meet certain economic and social criteria. Besides the contribution to the level of education, technological level, financial development, tax system, trade and investment policies, and market size, FDI should also encourage domestic investments (crowding in-effect). Purpose of the article: This paper examines the importance and effects of the inward and outward direct investments, gross savings as well as real growth on domestic investments in the case of Western Balkan countries (North Macedonia, Serbia, Albania, Kosovo, Montenegro, and Bosnia & Herzegovina). Thus, the logic behind this research is to determine whether and in which direction are aimed effects of FDI. Methods: The relation between FDI and domestic investments has been analyzed by employing panel data approach with and without constrains on cross-sections. The study is based on a panel data of six countries for the period between 2007-2018, (i.e., in total, we have 66 observations). Findings & Value added: The general conclusion from this analysis confirm that inward foreign direct investments in the Western Balkans, as well as real economic growth both significantly and positively affect the domestic investments.

Sign in / Sign up

Export Citation Format

Share Document