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Begin New Search Topic Economic Growth Political Geography North Macedonia

1. CEFTA: Trade and Growth Patterns Fifteen Years since Establishment

Author:
Nina Vujanović
Publication Date:
04-2023
Content Type:
Special Report
Institution:
The Vienna Institute for International Economic Studies (WIIW)
Abstract:
This research report investigates the trade and growth benefits of the CEFTA agreement for its members. Although the countries have not reached their end goal of membership of the European Union, the report shows that CEFTA has supported their economic growth. However, there is trade heterogeneity in terms of the extent to which individual countries use CEFTA value added in their manufacturing exports. Less-developed economies seem to rely more on regional (CEFTA) supply chains, while manufacturing-based economies are increasingly coming to rely on EU supply chains. The countries have not built a strong export advantage abroad, as very little of their value added is used in EU exports.
Topic:
European Union, Economic Growth, Trade, Supply Chains, and CEFTA
Political Geography:
Moldova, Eastern Europe, Kosovo, Serbia, Balkans, Albania, Montenegro, Bosnia and Herzegovina, and North Macedonia

2. PUBLIC EXPENDITURE ON EDUCATION AND ECONOMIC GROWTH: EVIDENCE FROM NORTH MACEDONIA

Author:
Katerina Shapkova Kocevska
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
In this paper, we studied the impact of public education expenditure on GDP per capita in North Macedonia from 1991 to 2020. The main questions we examined were: 1) What is the relationship between public education expenditure and GDP per capita in the country in the short run?; 2) Does a long-term relationship between the aforementioned variables exist?; and 3) What are the policy implications? This research was based on the Auto-Regressive Distributed Lag (ARDL) model, originally developed by Pesaran et al. (2001). The empirical estimations produced interesting findings. In the short run, the relationship between public spending on education and GDP per capita in North Macedonia was negative and statistically significant. The long-term relationship between the variables remained negative but statistically insignificant. These results were robust and consistent with results from earlier empirical studies. The results suggested that government expenditures on education did not contribute to economic growth in North Macedonia in the analyzed period, ceteris paribus. From a public policy standpoint, we concluded that intervention in the education system's financing is necessary to facilitate the transformation of education expenditures into productive human capital and enhance the nation's economic development.
Topic:
Development, Education, Economic Growth, Human Capital, and Public Spending
Political Geography:
Eastern Europe and North Macedonia

3. Analyzing the Variables that Influence Access to Bank Financing for Small and Medium Enterprises in Kosovo and North Macedonia

Author:
Filloreta Kunoviku-Demiri, Qazim Tmava, and Esat A. Durguti
Publication Date:
09-2021
Content Type:
Journal Article
Journal:
Journal of Liberty and International Affairs
Institution:
Institute for Research and European Studies (IRES)
Abstract:
This study aims to analyze variables that influence access to bank loans by SMEs in Kosovo and North Macedonia. Research methodology is compound by primary and secondary data. We hypothesized that the age of the SMEs, business size, written business plan, collateral type, and business experience before starting as an owner, owner education, and owner gender influence access to bank loans for SMEs. Econometric model results revealed that age of the SMEs, business size, and written business plan has a significant influence on bank loans borrowed by SMEs, while, collateral type, business experience before starting as an owner, owner level of education, and owner gender have no significant influence on bank loans borrowed by SMEs in the Republic of Kosovo. Furthermore, from the results obtained we revealed that age of the SMEs, business size, written business plan, and owners’ level of education has a significant influence on bank loan borrowed by SMEs, whereas, collateral type, business experience before starting as owner and owners gender have no significant influence on bank loans borrowed by SMEs in the Republic of North Macedonia. The findings suggest some future lines of research at the end and provide recommendations for the main stakeholders of this field of study.
Topic:
Finance, Economic Growth, Banking, and Loans
Political Geography:
Europe, Kosovo, and North Macedonia