Faculty of Economics
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Item type:Publication, Plastic Waste Management in North Macedonia: A Comparative Analysis With Western Balkans And Selected EU Countries(2024-12) - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Trade Intensity in Digitally Delivered Services and Economic Complexity(2024-12); ; - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Analyzing the relationship between trade openess and economic growth in North Macedonia: a SVAR approach(Faculty of Economics of East Sarajevo, 2024); ; The relationship between trade openness and economic growth is complex. We employ a structural vector auto-regression (SVAR) model using quarterly data for the period from 2005 to 2022 to estimate the impact of trade openness on the economic growth in North Macedonia. The study's findings indicate a negative and significant relationship between trade openness and economic development in the short and long run. The complexity of this relationship highlights an adverse impact on countries specialising in low-quality production or those with low levels of human capital accumulation, such as North Macedonia. The dynamic effects of shocks to trade openness on interest rates, consumer price index, interest rates, labour force, and exchange rate are investigated using impulse response functions. The paper suggests that North Macedonia's trade strategy requires reorientation towards trade diversification, attracting export-oriented FDIs, and fostering regional trade integration to achieve sustainable economic growth and development. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Зошто е важно ЕУ постепено да ги отвори кохезионите фондови на Западен Балкан во период на процесот на интеграција?(Центарот за стратегиски истражувања „Ксенте Богоев“ при МАНУ во соработка со Министерството за финансии на Република Северна Македонија и Секретаријатот за европски прашања на Владата на Република Северна Македонија., 2023); ; ; Within the European Union (EU) framework, income convergence is re- garded as a fundamental economic mechanism and an explicit objective. The Cohesion funds, integral to the EU‘s Cohesion Policy, has been used in con- junction with other EU Structural Funds to assist post-transitional EU member countries in achieving significant income convergence with the EU average. A similar path is envisaged for the Western Balkan countries, although at present their integration appears to be on a much slower trajectory. It‘s optimistically projected that they may become EU members in the forthcoming decade. Con- currently, EU member countries from this region, including Croatia, Bulgaria, and Romania, are currently receiving and will continue to receive substantial financing from the European Structural and Investment Funds (ESIF) in the next decade. As an illustration, they are slated to receive billions of euros in grants solely for the purpose of economic decarbonization. In contrast, the Western Balkan countries engaged in the EU integration process cannot access the EU Cohesion funds and are limited to using only the IPA funds. However, the rel- ative size of the IPA funds the Western Balkans receive is much smaller when compared to the ESIF. A central thesis of this paper, therefore, is that this dis- parity will bolster the competitiveness of the EU member economies from this region against the Western Balkan economies. Consequently, this may result in divergence, rather than convergence, of the Western Balkan economies with the economies of the region that are EU members. This paper primarily recommends that the EU should gradually start to make Cohesion Funds available to the Western Balkan countries during the integration process. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Applying trade facilitation measures for increasing regional trade in Southeastern Europe(University of National and World Economy - UNWE, Sofia, Bulgaria, 2023); ; ; Tonovska JasnaIn this paper we analyze the exchange of goods between the countries in Southeast Europe (SEE). By application of the gravity model of international trade, we determine the drivers of trade among 10 SEE countries: Albania, Bosnia and Hercegovina, Bulgaria, Croatia, Montenegro, Moldova, North Macedonia, Romania, Serbia and Slovenia. The focus of the research is to evaluate the influence of Trade Facilitation Indicators (TFIs) developed by OECD on intraregional trade. These indicators cover a wide range of existing border procedures determined as trade facilitation measures. The individual estimations show that, after controlling for the usual gravity model variables, seven out of the total eleven TFIs show a positive and significant impact on trade in SEE. These results point to the existence of a potential for a further boost of the intraregional trade by improving the activities related to information availability, formalities-documents, fees and charges, formalities-automation, formalities-procedures, appeal procedures and governance. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Exploring the Drivers and Constraints in Intra-EU Trade(Association of Economists and Managers of the Balkans, Belgrade, Serbia., 2023-10-30); ; ; The objective of this paper is to explore the factors that stimulate trade among EU countries and pinpoint areas that require improvement to foster a further increase in trade intensity within the region. The focus is on the effect of aggregate trade restrictions, which are based on the nov el indicator Measure of Aggregate Trade Restrictions (MATR), developed by the IMF. The empirical analysis consists of the estimation of a gravity panel model for the 28 EU member countries (including Great Britain) for the peri od from 1999-2020, by implementing both Ordinary least squares (OLS) and Poisson Pseudo Maximum Likelihood (PPML) estimators. The results show that the Eurozone membership has positive effects on increasing intra-EU trade, whereas the MATR indicator has significant negative effects, suggest ing that the elimination of the remaining trade restrictions could lead to a further boost of intra-EU trade. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, A Pooled Overview of the European National Innovation Systems Through the Lenses of the Community Innovation Survey(Springer, 2023-03-23); ; ; ; Jolakoski PetarIn this paper, we perform a detailed pooled cross-sectional analysis on the innovation performance in nine European countries by using data stemming from the Community Innovation Survey. The temporal dimension of our dataset includes three waves of CIS surveys from 2008 until 2014. As such, it allows us to evaluate the changes in the innovation processes within the countries in a more profound way. Our findings suggest that there are no significant differences among the countries regarding the firms’ determinants to enter the innovation process. However, the effect of innovation output over labor productivity varies among economies: there is a positive relationship in the more developed economies compared to a negative or neutral relationship in the less developed. We use these results to speculate that the national innovation system in developing economies becomes more vulnerable in periods of the financial crisis. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, EMPIRICAL DETERMINANTS OF INNOVATION IN EUROPEAN COUNTRIES: TESTING THE PORTER`S HYPOTHESIS(Faculty of Economics & Business Zagreb University of Zagreb, 2023); ; ; ; This paper is continuous research on the relationship between innovation and productivity (Tevdovski et al. 2017, Toshevska-Trpchevska et al. 2019; Disoska et al. 2020; Toshevska- Trpchevska et al. 2020, Disoska, 2023). However, this paper tries to go further and capture the impact of environmental regulation (among other determinants), on the innovation firms’ behaviour in Europe. The main goal of this paper is to test the Porter hypothesis, which suggests that well-designed environmental regulation can trigger firms` technological innovation that helps gain commercial competitiveness (Porter and van der Linde, 1995). Many papers (Jaffe and Palmer, 1997 and Jaffe and al.,1995) support the hypothesis explaining that innovation in pollution-saving technology induces savings in energy, and therefore cost that can offset the cost of complying with them. Nonetheless, the effect varies depending on the sector affected and can be negative in some cases (Kozluk and Zipperer, 2013). In this paper, we try to compare the impact of environmental regulation on innovation and productivity, in different group settings. We use the analytical framework of the CDM model (the acronym of the three authors’ names, Crépon, Duguet and Mairesse, 1998). The model consists of two general stages, and each of them can be divided into two sub-stages. In the first general stage, we estimate the factors that drive firms’ decisions to innovate, as well as innovation investment, using a Heckman correction model. In the second stage, we perform the three-stage least squares (3SLS) methodology to simultaneously estimate the innovation output and the productivity of the firm. This four stages model has led us to gradually observe the determinants of the 14 innovation process and their influence over increasing labor productivity in different institutional settings. The data for the econometric model on firm-level data was taken from the Community Innovation Survey (CIS). The CISs represent harmonized surveys aimed at collecting microdata on innovation activities conducted in 2 years from firms belonging to countries that are part of the Eurostat network. In this analysis, we utilize one wave of the CIS survey, namely CIS18 (conducted between 2016 and 2018). We are exploring the impact of innovation on productivity in the observed EU member countries. Furthermore, we would like to see whether there is a positive influence of environmental regulation on the decision to innovate, innovation output, and productivity. The countries are divided into two groups of EU countries – South Europe and Central Eastern Europe and we compare their performances with Germany. The countries representing South Europe are: Greece, Spain and Portugal and countries from Central Eastern Europe included in the analysis are Bulgaria, Czech Republic, Estonia, Croatia, Hungary, Lithuania, Latvia, Romania and Slovakia. The research questions are: 1. How environmental regulation affects the decision to innovate, innovation output, and productivity in different group settings? Is there a significant difference between South and Central Eastern European counties compared to Germany? 2. Does a lower level of innovation in South Europe and Central and Eastern Europe associated with lower environmental awareness among the population or a higher energy intensity in the economy (compared to Germany)? 3. Is Porter’s hypothesis valid in Central and Eastern Europe countries and in South Europe? From the theoretical point of view, we link theory regarding the validity of Porter’s hypothesis and firms’ environmental awareness in two institutional settings. From the practical perspective, we provide practical policy implications. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, How to Increase Trade in Southeast Europe by Applying Trade Facilitation Measures?(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2023-12-15); ; In this paper, we apply the 2021 edition of OECD Trade Facilitation Indicators (TFIs) in the gravity model to measure the importance of applying trade facilitation measures to increase intraregional trade among the 10 SEE countries: Albania, Bosnia & Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Romania, Serbia, and Slovenia. The purpose of the paper is to indicate area(s) where countries could undertake measures to facilitate trade and enhance the process of trade integration in the region of Southeast Europe. Although most of these countries trade among themselves on a preferential basis, many studies pointed out that there are still areas and barriers that hinder their mutual trade. The results of our study show that decreasing fees and charges, harmonization and decreasing the number of documents, automatizing the process of trading, and improving governance and impartiality of the Customs administration could positively influence trade among these countries. These results are additional confirmation of our previous studies in this area which firmly acknowledge the area where trade policy creators should pay due attention. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Importance of Intellectual Property Law in the Prevention of Selling Counterfeit Products Online(Emerald Publishing, 2022-09); ; ; Trade in counterfeit products has been expanding continuously. The emergence of the internet, the process of globalisation as well as the increase of digitalisation have enabled counterfeit products to infiltrate legitimate supply chains, causing harm not only to national economies but also to holders of intellectual property rights (IPR). In this chapter, we analyse the possible solutions that holders of IP rights and their legal representatives have in their fight against the online sale of counterfeit products. To elaborate on this issue, first, we explain the legislation on an international level for IPR protection and its specific characteristics. We explain the conventions on the protection of IPR that are governed by the World Intellectual Protection Organisation (WIPO) and the provisions of the TRIPS (Trade-Related Intellectual Property Rights) Agreement governed by the World Trade Organisation (WTO). We also analyse the national legislative procedure of protecting and enforcing IPR in North Macedonia to explain a possible solution to fight online counterfeit trade. As a case study of this chapter, we explain the work of the Online Enforcement Programme of REACT as a not-for-profit organisation with over 30 years of experience in the fight against counterfeit trade and the challenges that they have in fighting against the online sale of counterfeit products. Since IP law is territorial in its nature as a conclusion, we suggest that a more centralised approach is needed in the fight against the online sale of counterfeit products.