Institute of Economics

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Author: search.filters.author.Verica Janeska

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    Challenges of the demographic ageing in the Republic of North Macedonia – current situation and prospects
    (Institute of Economics – Skopje, 2022-10)
    Aleksandra Lozanoska
    ;
    Verica Janeska
    ;
    Elizabeta Djambaska
    The aim of this paper is to identify the changes in the period 2002-2021 and current situation related to population ageing and basic functional contingents of the resident population in North Macedonia. Based on the analysis the main challenges in terms of demographic and socio-economic development on mid and long term are determined and areas in which appropriate policies should be developed. The analyses show that resident population has declined for about 12% and the demographic ageing was accelerated. It results with decrease of the number of children for 27%, young population (32%), working-age population for (12.4%) and female fertile population (21.4%), while the population aged 65+ increased for 47.5%. In circumstances of extremely unfavorable demographic situation, the country is facing three major challenges referring to the necessity to mitigate the decrease of the resident population and of the young working-age population, as well as the rapid growth and aging of the elderly population. Each of them is equally complex and requires great attention and comprehensive activities of the policy makers in the country. Indisputable interrelation of the policies in all these areas requires creation and of a comprehensive strategy for family that should include all relevant aspects related to promoting its position and sustainability.
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    Productivity as a source of economic growth - current situation and prospect in the Republic of North Macedonia
    (Institute of Economics - Skopje, 2022-10)
    Elizabeta Djambaska
    ;
    ;
    Verica Janeska
    Productivity is an indicator of the use (exploitation) of the potential of inputs for creating new value added in the economy. In the long term, productivity growth is dependent upon innovation, investment in physical capital, and investment in human capital. These immediate factors are shaped by the environment in which enterprises operate: market structures, infrastructure, the institutional framework and the quality of governance. The main objective of this paper is to study productivity growth in the Republic of North Macedonia and to analyses and propose measures that can be taken to stimulate productivity. The analysis include: labor productivity, total factor productivity (TFP) and the level of enterprise productivity. Labour productivity in North Macedonia is low, and in the past five years even negative. The calculations of the total factor productivity using the Solow’s growth model and Cobb-Douglas production function for the past twenty years, shows that GDP average growth is 4,97% and the TFP contribute by 1,69%.The level of enterprise productivity is also low.Therefore, the expectations for the increase of the GDP and reaching economic growth that can be sustainable is possible with increasing total factor productivity in the North Macedonia.
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    Emigration and remittances during Covid-19: evidence from North Macedonia and Serbia
    (Institute of Economics - Skopje, 2022-12)
    Verica Janeska
    ;
    ;
    Jelena Predojević-Despić
    ;
    Vesna Lukić
    This paper provides assessment of the changes in the scope and transfer of the remittances in North Macedonia and Serbia, in light of changes in the emigration abroad during the COVID-19 pandemic. The analysis is based on the foreign data sources about emigration abroad, as well as annual and monthly remittance data from national banks of both countries. Emigration abroad from North Macedonia and Serbia in 2020 continued but with decreased intensity than in previous years. In 2020 compared to 2019, the transfer of remittances through official channels is almost 50% higher in North Macedonia and about 17% lower in Serbia, while in 2021 compared to 2020 it increased in both countries. It implicates significant shift from informal to formal remittance channels due to travel restrictions. The category of other current transfers related to the foreign exchange operations in 2020 compared to 2019, noticed considerable decrease in both countries (for two fifths in North Macedonia and for more than one fourth in Serbia). Their decline is particularly emphasized in July and August due to less migrants’ arrivals. In 2021, the increased number of migrants in both countries results with higher inflow of remittances in cash. Changed transfer of the remittances imply need for: Development of digital financial tools according the migrant’s needs; To stimulate the use of bank cards for remittance recipients; Improvement of communication tools to promote financial literacy and encourage the use of digital services by migrants and their families; etc.