Iustinianus Primus Faculty of Law

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Author: search.filters.author.Aleksandra MaksimovskaLanguage: search.filters.language.English

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    Legal Perspectives of Public Debt Management in South Eastern Europe
    (Institut für Ostrecht, Munich, Germany, 2015-12)
    Aleksandar Stojkov
    ;
    Aleksandra Maksimovska
    This study examines the legal and institutional underpinning of public debt management in six South Eastern European transition countries and highlights the short- and medium-term challenges for law- and policymakers. The more specific research goals of the study are: (1) to contrast and compare the structure of legal frameworks for public debt management in the SEE countries, (2) to assess the important factors for developing a sound institutional structure for an effective debt management, and (3) to offer policy relevant conclusions for the observed countries. The study contributes to the existing body of relevant literature in several ways. To the best of our knowledge, this is the first attempt to provide a comprehensive analysis of the institutional arrangements influencing the prudent public debt management in the region of South East Europe. The second intended contribution of the paper is to highlight the main challenges for efficient, transparent and accountable debt management policies in these countries. Due to the low political culture in many SEE countries, the legal provisions relating to the fiscal transparency in the debt management law must be much more detailed and explicitly stated. Several areas of fiscal transparency call for urgent action. The deficiencies can be detected in many areas starting from the definitional point of view (e.g., the coverage of the officially published general government and public debt) to legal ambiguities to the extraordinary (ad hoc) issuance of government securities to problematic quality and timeliness of the debt reports to the lack of audit of the public debt.
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    Fiscal Decentralization and Ethnic Politics in Macedonia
    (Lex localis - Journal of Local Self-Government, 2015-10-10)
    Aleksandra Maksimovska
    ;
    Aleksandar Stojkov
    ;
    Patrick Schmidt
    Competing ethno-centered strategies over the local fiscal resources can seriously undermine political and economic stability of ethnically diverse societies. This study investigates the causal link between ethnic diversity and local government finances by focusing on the case of Macedonia. In particular: whether fiscal decentralization is used as a part of broader strategy for prevention and mitigation of inter-ethnic conflicts. The main argument is that low level of political culture and inter-ethnic tensions are frustrating the development of the government policy along a course of decentralization. The study confronts two emerging scenarios regarding decentralization and inter-ethnic relations. The first scenario puts the economic development at the forefront for country’s stability and treats decentralisation as a driving force to achieve this goal. Ethnic problems are expected to be solved along this path as rising economic stability reduces the inter-ethnic tensions. In the second scenario, the inter-ethnic stability is the main pillar of the country’s stability, which is expected to be accomplished through decentralisation. The paper analyses and synthesizes pros and cons of two scenarios from administrative, legal, political and economic perspectives.
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    Social Responsiveness and Service Performance of Local Government: The Case of Macedonia
    (Faculty of Law in Zagreb, 2016-01-12)
    Aleksandra Maksimovska
    ;
    Aleksandar Stojkov
    Bringing services closer to the citizens is one of the primary goals of local government. Various social groups seek different social treatment and action. This paper examines whether local authorities are responsive and equally open to all those groups, or if they simply spend budget resources in order to carry out their responsibilities as required by the law. The paper brings into light the new concept of social responsiveness of local governments. Being socially responsive requires being more than just open; it implies addressing needs in order to keep citizens satisfied regarding a wide spectrum of public services. The main result of the paper is an assessment of the nexus between local government social responsiveness and local service performance in basic areas (communal services, education, culture, and other competences; economic development; and fiscal assignments) in the case of Macedonia.