scholarly journals Macroeconomic effects of the budget deficit in the Republic of Macedonia

2018 ◽  
Vol 4 (2) ◽  
pp. 5-14
Author(s):  
Martin Noveski
Keyword(s):  
Budget Deficit ◽  
Empirical Relationship ◽  
Gdp Per Capita ◽  
Public Expenditures ◽  
Final Consumption ◽  
Republic Of Macedonia ◽  
Per Capita ◽  
The Republic ◽  
The Government ◽  
The Impact

AbstractAlthough a decade has passed since the global financial and economic crisis of 2008, the expansionary fiscal policy in Macedonia can still be felt, primarily through an increased level of public expenditures aimed at stimulation of the economic growth. From 2008 onwards, the Republic of Macedonia has continuously recorded a negative budget balance, which affects the resources allocation and the overall economic situation. The question that arises is whether such interference by the Government in the functioning of the market economy is necessary, especially having in mind the EU regulation in this area. Using a multiple regression model for the period 1996-2015, this paper examines the impact of the budget deficit on Gross Domestic Product (GDP) per capita in Macedonia. Results show that the budget deficit is not a statistically significant determinant of GDP per capita, supporting thus the Ricardian equivalence theory. The analysis is conducted on the basis of statistical data from the World Bank’s database, as well as data from the National Bank of the Republic of Macedonia. Household final consumption expenditure, the unemployment rate and the official exchange rate of the Macedonian Denar against the U.S. Dollar are also taken into consideration as controlling variables. GDP per capita and household final consumption expenditures are in current prices, with natural logarithms applied, whereas the other variables are in nominal terms. The purpose of this paper is to provide an insight into the empirical relationship between the two main variables of interest and to initiate further discussion and analysis.

scholarly journals Non-Price Criteria for the Evaluation of the Tender Offers in Public Procurement of Ukraine

2020 ◽  
Vol 8 (3) ◽  
pp. 44
Author(s):  
Alexander Baranovsky ◽  
Nataliia Tkachenko ◽  
Vladimer Glonti ◽  
Valentyna Levchenko ◽  
Kateryna Bogatyrova ◽  
...  
Keyword(s):  
Public Procurement ◽  
Well Being ◽  
Gdp Per Capita ◽  
Tender Offers ◽  
Product Categories ◽  
Per Capita ◽  
The Government ◽  
The Impact ◽  
Over Time ◽  
The Eu

Traditionally, public procurement has been associated with the measurement of achieving savings. However, recent research shows that the economic impact of public procurement is not limited only to savings, but by measuring the impact of four capitals—natural, human, social, and economic—on sustainable well-being over time. Ukraine is a country with a very low gross domestic product (GDP) per capita, which exacerbates the problem of the impact of public procurement results on the population’s welfare. Ukrainian public procurement legislation allows customers to apply non-price criteria (the share of non-price criteria cannot be more than 70%), which, together, are taken into account in the formula of the quoted price. The studies show that the effect of the use of non-price criteria depends on the relevance of the method of the evaluation of non-price criteria. The most important non-price criteria for Ukrainian customers by product categories and the methods of their evaluation are analyzed according to the Bi.prozorro.org analytics module. Therefore, it is concluded that the quoted price method, which is used in Ukrainian practice, is not relevant in comparison with the method used in the EU. A survey of the government buyers on the practice of applying non-price criteria was conducted, and the areas of their use were identified.

scholarly journals THE CONTRIBUTION OF MIGRATION TO ECONOMIC GROWTH: THE EXAMPLE OF THE CITY OF ZAGREB

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Vinko Miličević ◽  
Danijel Knežević ◽  
Zoran Bubaš
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Activity ◽  
Economic Benefits ◽  
Gdp Per Capita ◽  
The European Union ◽  
Per Capita ◽  
The Republic ◽  
The Impact ◽  
The City

The problems in this paper belong to the field of migration and economy. The connection between migration and the economy has been proven on a global level, and as far as the Republic of Croatia is concerned, it is especially important to observe it through the City of Zagreb, which is the most important migration and economic center in the Republic of Croatia. Also, the accession of the Republic of Croatia to the European Union emphasized the observation and research of this connection because it created the preconditions for freer movement and employment of the population of the Republic of Croatia and the City of Zagreb within the European Union. The aim of this paper is to determine the contribution of migration to the economic growth of the City of Zagreb. The hypothesis presented in the paper is that there is a significant contribution of migration to the economic growth of the City of Zagreb. The disposition of the paper consists of six parts. The introduction explains the relevance of the topic, states the aim of the paper and hypotheses, explains the empirical part, the contribution of the paper and the disposition. The second part of the paper refers to the theoretical framework of the impact of migration on economic growth. The third part of the paper presents the migration processes of the City of Zagreb in the period from 2011 to 2018. The fourth part deals with economic activity in the City of Zagreb in the period from 2011 to 2017. The observed indicators of economic activity in the City of Zagreb are GDP and GDP per capita, and the graph in this part of the paper shows that GDP and GDP per capita in the observed period are higher at the end of the period than at the beginning. The fifth part of the paper refers to the empirical research of the contribution of migration to the economic growth of the City of Zagreb. The empirical part of the paper is based on correlations and regression analyses. This paper proves the hypothesis because the results indicate a significant impact of the variables of total and external migration on the GDP of the City of Zagreb and GDP per capita of the City of Zagreb. Decision-makers in the City of Zagreb can use the results of the research as a basis for maximizing the economic benefits they can get from migration. The conclusion provides an overview of the aim of the work, the results of the research, the limitations, the implications and the recommendations for future research.

Factors affecting the international competitiveness of polish economy system in 2004-2019

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Konrad Rojek
Keyword(s):  
Econometric Model ◽  
Negative Impact ◽  
Economic Effect ◽  
International Competitiveness ◽  
Gdp Per Capita ◽  
Content Type ◽  
Per Capita ◽  
The Government ◽  
Polish Economy ◽  
The Impact

Purpose This study aims to present the issue of the international systemic competitiveness of the Polish economy. The essence of this concept was shown, as well as the measures and methods of analysis used. The aim of the research was to identify the factors that had the greatest impact on the formation of the international systemic competitiveness of the Polish economy. Design/methodology/approach An econometric model was constructed to explain the shaping of the value of the dependent variable (gross domestic product [GDP] per capita) in the years 2004–2019. For this purpose, explanatory variables were used selected from among the measures of the international systemic competitiveness of the Polish economy. The developed econometric model was verified to check its practical usefulness. This process was performed using the Gretl program. The research also used the Pentagon Model of Macroeconomic Stabilization, which was used to examine the general economic development of Poland because of which it is possible to conclude about the international systemic competitiveness of the economy. Findings In the analyzed period (2004–2019), the international systemic competitiveness of the Polish economy was to the greatest extent conditioned by such factors as government integrity, tax burdens and investment freedom. It is significant that the integrity of the government had a negative impact on the value of GDP per capita. Practical implications The results of the conducted research may be particularly useful for the institutional sphere. They indicate systemic factors that had the greatest impact on the prosperity of Polish society in the analyzed period. This enables the weakest elements of the policy to be identified and improved. Proper applications and appropriate corrective actions will have a positive economic effect. Originality/value So far, it has not been possible to develop/indicate a uniform and generally accepted measure and method of analyzing international systemic competitiveness. Therefore, all attempts to assess and measure systemic competitiveness have a high research value. The vast majority of studies on the international competitiveness of the economy focus only on assessing its level (growth, decline and comparison with other countries). When building an econometric model (based on the 2004–2019 time series), the author also checks the impact of its individual components, not only its level. On this basis, it can be deduced, which factors influenced the competitiveness in a given period to a greater extent, positively or negatively.

FCTC Ratification, Smoking Prevalence and GDP per Capita : Lesson Learn for Indonesia

2021 ◽  
Author(s):  
Abdillah Ahsan ◽  
Rifai Afin ◽  
Nadira Amalia ◽  
Martha Hindriyani ◽  
Ardhini Risfa Jacinda
Keyword(s):  
Tobacco Control ◽  
Smoking Prevalence ◽  
Tobacco Industry ◽  
Well Being ◽  
Least Square ◽  
Gdp Per Capita ◽  
Country Level ◽  
Per Capita ◽  
The Government ◽  
The Impact

Abstract Background The stagnated tobacco control progress in Indonesia needs to be accelerated through a more comprehensive implementation of Framework Convention of Tobacco Control (FCTC) measurement. Nevertheless, the tobacco industry argument concerning the negative economic impacts of tobacco control still hinders the government to ratify or even sign the FCTC, which has been ratified by more than 180 countries. This study aims to bring the empirical evidence on the tobacco industry argument concerning FCTC. This study applied two stage least square estimation strategy to unbalanced panel data at country level. On the first stage we estimate the impact FCTC ratification on smoking activity, and on the second step, estimating the influence of smoking activities on macroeconomic performance.Results The result of this study shows that FCTC ratification is negatively related to a country’s smoking prevalence, in which the ratifying party of FCTC has lower smoking prevalence. Moreover, country who ratifies FCTC longer is also associated with lower smoking prevalence. Whereas FCTC ratification is beneficial in reducing smoking prevalence, the declining smoking prevalence is not related to the decline in GDP per capita.Conclusions The result of this study shows the decrease in smoking prevalence has nothing to do with the macroeconomic indicator. Hence, FCTC ratification, which is an important driver for tobacco control actions acceleration, should not be seen as a backfire to the economy. Instead, FCTC ratification could be mutually beneficial for the health and economic aspects as it provides comprehensive guidance and protocols by taking into account the well-being states of both aspects.

scholarly journals An Analysis of the Development of Entrepreneurship in the Republic of Serbia with a Special Focus on Female Entrepreneurship

JWEE ◽  
2019 ◽  
pp. 1-16
Author(s):  
Snežana Radukić ◽  
Jelena Petrović
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Transition Countries ◽  
Gdp Per Capita ◽  
Special Focus ◽  
Female Entrepreneurship ◽  
Entrepreneurship Development ◽  
Per Capita ◽  
The Republic ◽  
The Impact

Entrepreneurship is a significant factor of the economic development of developed and transition countries. In the literature, special attention is paid to the entrepreneurship development and its impact on the economic growth and economic development of the transition countries. However, insufficient attention is paid to economic growth as a factor of the entrepreneurship development in transition countries. The purpose of the paper is to analyze the impact of economic growth on the entrepreneurship development in the Republic of Serbia and its regions. The results indicated that there is a statistically significant negative correlation between the gross domestic product (GDP) and the number of entrepreneurs as well as between GDP per capita and the number of entrepreneurs in the Republic of Serbia. Also, the results indicated that GDP per capita has a significant impact on the development of female entrepreneurship in the Republic of Serbia.

scholarly journals ICT and Economic Growth Nexus: Case of Central Asian Countries

2021 ◽  
Vol 1 ◽  
pp. 155-167
Author(s):  
Tursun Shodiev ◽  
Bakhodir Turayey ◽  
Kamoliddin Shodiyev
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
Digital Economy ◽  
Gdp Per Capita ◽  
Asian Countries ◽  
Central Asian ◽  
Central Asian Countries ◽  
Per Capita ◽  
The Government ◽  
The Impact

The Government of Uzbekistan declared the year of 2020 as “The Year of Science, Education and Development of the Digital Economy” and is implementing the State Program, aiming at to liberalize the economy, improve market related incentives, encourage private enterprises, to reduce the role of the public sector by introducing ICT and Internet, developing digital economy. In order to understand the causal relationship between ICT investment and economic growth researchers have exert many effort in the world. The results are different: in developed countries the impact of ICT on economic growth is more powerful than in developing countries. This paper aims at finding and measuring causality between Economic growth and ICT development in emerging economies of Central Asian Countries by using panel data over  the period of  19 years  from 2000 – 2018. The research findings revealed that inflation, trade openness, final consumption expenditure and unemployment impact significantly on GDP per capita in Central Asian countries.  The econometric analysis showed  that ICT affects to GDP per capita positively and significantly: one percent increase in ICT contributes to GDP per capita 0.1669 percent (fixed broadband subscriptions) and 0.2218 percent (internet usage).Thus we concluded that information and communication technology together with economic indicators are key part of economic development in Central Asian countries. Reduction of inflation and unemployment allow expanding businesses, to create new job places in the digital economy.

Wyzwanie dla tożsamości międzynarodowej Macedonii – grecko macedoński spór o nazwę państwa

2019 ◽  
Vol 17 (1) ◽  
pp. 333-350
Author(s):  
Artur Adamczyk ◽  
Mladen Karadzoski
Keyword(s):  
The European Union ◽  
Small Country ◽  
Main Obstacle ◽  
The Road ◽  
Republic Of Macedonia ◽  
The Republic ◽  
The Government ◽  
On The Road ◽  
International Identity ◽  
Of Greece

The main purpose of the article is to present how the Greek- -Macedonian naming dispute influenced the problem of implementation the international identity of Macedonia. Despite the initial problems of the government in Skopje related to determining their international identity, Macedonians managed to define the principles regarding the identification of a new state on the international stage. As a small country with limited attributes to shape its international position, Macedonia has basically been determined to seek guarantees for its existence and security in stable and predictable European international structures such as NATO and the European Union. The main obstacle for Macedonians on the road to Euro-Atlantic structures was the veto of Greece, a member of these organizations, resulting from Athens’ refusal to accept the name the Republic of Macedonia. The Prespa Agreement of 2018 gave a new impetus to the realization of the international identity of North Macedonia.

scholarly journals The Impact of Oil Price Shocks on National Income: Evidence from Azerbaijan

Energies ◽  
2021 ◽  
Vol 14 (6) ◽  
pp. 1695
Author(s):  
Shahriyar Mukhtarov ◽  
Sugra Humbatova ◽  
Mubariz Mammadli ◽  
Natig Gadim‒Oglu Hajiyev
Keyword(s):  
Exchange Rate ◽  
Oil Price ◽  
Gdp Per Capita ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Total Trade ◽  
Trade Turnover ◽  
Per Capita ◽  
The Exchange Rate ◽  
The Impact

This study investigates the influence of oil price shocks on GDP per capita, exchange rate, and total trade turnover in Azerbaijan using the Structural Vector Autoregressive (SVAR) method to data collected from 1992 to 2019. The estimation results of the SVAR method conclude that oil price shocks (rise in oil prices) affect GDP per capita and total trade turnover positively, whereas its influence on the exchange rate is negative in the case of Azerbaijan. According to results of this study, Azerbaijan and similar oil-exporting countries should reduce the dependence of GDP per capita, the exchange rate, and total trade turnover from oil resources and its prices in the global market. Therefore, these countries should attempt to the diversification of GDP per capita, the exchange rate, and other sources of total trade turnover.

THE IMPACT OF THE DEVELOPMENT OF PROPERTY RELATIONS ON THE INSTITUTIONS OF ENTREPRENEURSHIP IN THE REPUBLIC OF AZERBAIJAN

2017 ◽  
Author(s):  
Vugar Nazarov ◽  
◽  
Jamal Hajiyev ◽  
Vasif Ahadov ◽  
◽  
...  
Keyword(s):  
Social Development ◽  
Large Scale ◽  
Private Property ◽  
Scale Transformation ◽  
Economic Relations ◽  
Property Relations ◽  
Property System ◽  
The Republic ◽  
The Government ◽  
The Impact

Local and foreign scientists are now paying growing attention to various issues of property and the philosophical and ethical, political, economic, institutional, social, psychological, and other aspects of its formation, taking into account the requirements of large-scale transformation, which primarily concern post-industrial areas of social development. In consequence, as modern studies rightfully point out, considering property relations, two general restrictions should be taken into account: this is an attempt to explain the absoluteness of their roles, the presence and content of all aspects of socio-economic relations by property relations; and the denial of the role of property as one of the most important factors determining the direction of social development in the present and future.This situation forces a new look at the economic policy of the state in this area, because any financial and monetary measures taken by the government will be doomed to failure if their implementation will be without interaction with the mechanisms of the private property system. The article defines the entrepreneurial sector of the region, its interaction with the institutions of the market system operating in all sectors and spheres of the region's economy, and also shows the influence of the development of property relations on the institutions of entrepreneurship.

The relationship between energy consumption and economic growth: New evidence from Greece

2021 ◽  
pp. 131-153
Author(s):  
Antonia Gkergki
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Gdp Per Capita ◽  
Short Term ◽  
Vector Error Correction ◽  
Per Capita ◽  
Econometric Tests ◽  
The Government ◽  
New Research ◽  
The Relationship

This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.

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