Faculty of Economics
Permanent URI for this communityhttps://repository.ukim.mk/handle/20.500.12188/9
Browse
43 results
Search Results
- Some of the metrics are blocked by yourconsent settings
Item type:Publication, What drives successful sustainable technology transfer in emerging open innovation ecosystems(Faculty of Economics, University of Split, 2025-08); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, FOREIGN DIRECT INVESTMENT, DOMESTIC INVESTMENT, AND THE ROLE OF INSTITUTIONS IN CENTRAL, EASTERN, AND SOUTH-EASTERN EUROPE(Faculty of Economics, University of Belgrade, Serbia, 2024-09-29); The paper examines the relationship between foreign direct investment (FDI) and domestic investment in Central, Eastern, and South-Eastern European (CESEE) countries from 1995 to 2021. The primary hypothesis posits that FDI exerts a positive influence on domestic investment, with variations observed across diverse institutional contexts. The research utilises fixed effects and a one-step difference generalised method of moments (GMM) to determine whether FDI leads to an increase or decrease in domestic investment in CESEE countries. The findings indicate that FDI has a favourable and statistically significant influence on domestic investment. However, the coefficients for FDI are less than one, indicating that while FDI stimulates overall investment, it does not create a crowding-in effect where the rise in total investment surpasses the FDI inflows. When the data is split on the basis of institutional quality, it is evident that FDI continues to positively impact domestic investment in high and low-institutional- quality settings. The coefficients for FDI in both subgroups are less than one, implying that institutional quality does not substantially change the correlation between FDI and domestic investment. These results indicate the positive and significant impact of FDI on domestic investment, without crowding-in effects for the entire sample of CESEE economies and both subgroups that differ in institutional quality. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, EVALUATION OF MIXED FREQUENCY APPROACHES FOR TRACKING NEAR-TERM ECONOMIC DEVELOPMENTS IN NORTH MACEDONIA(School of Economics and Business, University of Sarajevo, 2021-07) - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Remittances, FDI and economic growth: the case of South-East European countries(Taylor & Francis, 2023-01); South-East European countries rely heavily on remittances and FDI as external sources of financing. Hence, an investigation of the behaviour of remittances and FDI during the business cycle and their impact on economic growth is of crucial importance. To achieve this objective, we first analyse the cyclical nature of remittances and FDI flows in Albania, Bosnia and Herzegovina, Croatia, Montenegro, the Republic of North Macedonia, and Serbia (SEE6) during their business cycles in the 2008q1-2021q2 period. Second, we investigate the causal link among these variables, and find out that although at the aggregate level remittances and FDI move synchronously and in the same direction as the business cycle, there are considerable variations across countries. Following Dumitrescu-Hurlin Panel Granger causality test, we find that for most SEE6 there is a bidirectional causal relationship between remittances and economic growth, i.e. economic growth is caused by remittances, and GDP growth also stimulates remittances. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Impact of Remittances on Economic Growth: Empirical Evidence from South-East European Countries(School of Economics and Business University of Sarajevo, Trg oslobodjenja, 171000 Sarajevo, Bosnia and Herzegovina, 2022)South-East European (SEE) countries are experiencing high emigration, resulting in a significant increase in remittance inflows, exceeding FDI flows. Today the most important challenge facing SEE countries is how to grow at a higher speed to achieve faster economic convergence with the EU. The objective of the paper is to empirically examine the relevance of remittances as a factor of economic growth, using a quarterly balanced panel data set of six SEE countries: Albania, Bosnia and Herzegovina, Croatia, Montenegro, the Republic of North Macedonia, and Serbia (SEE6) over 2008q1-2020q2. Panel regression with the fixed-effects model is employed to account for potential cross-section heterogeneity. This study provides original econometric evidence that remittances significantly impact economic growth in our panel of SEE6. Those results will be useful both to scholars and policymakers in creating policies that will direct remittances into investments in the economy. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Моделирање на сегментите на пазарот на труд низ перспективите на дипломираните економисти на Економски факултет - Скопје(Економски факултет - Скопје, Универзитет „Св. Кирил и Методиј“ во Скопје, 2022); ; ; ; Употребата на квантитативните модели за утврдувањето на детерминантите врз сегментите на пазарот на труд во Република Северна Македонија, се наметнува како потреба при креирањето и имплементацијата на новите политики. Успешната интеграција на пазарот на труд е клучна за младите дипломци, а високообразовните институции се директно инволвирани во создавање компетентна понуда на работна сила. Предмет на интерес во оваа монографија се двата сегмента на пазарот на труд односно вработувањето и самовработувањето. Целта е да се моделираат двата сегменти низ перспективите на дипломираните економисти на водечката институција во областа на економијата и бизнисот во Северна Македонија, Економскиот факултет – Скопје при УКИМ во Скопје. Анализата утврдува колку од дипломираните економисти се вработиле непосредно по дипломирањето (и тоа во областа за која се стручни или во друга област); колку од нив чекале да бидат вработени во соодветната област и кои фактори влијаеле на должината на чекање и колку од дипломираните економисти започнале сопствен бизнис. Истражувањето е базирано на примарни податоци собрани преку електронски дистрибуирани анкетни прашалници до дипломирани економисти запишани во периодот од 2014 до 2018 година. Врз основа на добиените одговори од пополнетите прашалници студијата конструира квантитативни модели (математички, на машинско учење и економетриски), а со нивно решавање се утврдува значењето на индикаторите на должината на барање работа во соодветната област како и на факторите за започнување сопствен бизнис. Покрај тоа, анкетирани беа и студентите од четврта студиска година на Економскиот факултет – Скопје во академската 2021/2022 година за да се утврди колку од нив имаат дефинирано цели за својата иднина; аспирации за продолжување на постдипломски студии во државата и на која студиска програма (непосредно по дипломирањето); колку ќе бараат работа во државата; колку планираат да започнат сопствен бизнис, во која индустрија и што влијае на нивната одлука. Со помош на техники на машинско учење (анг. machine learning – ML), визуализација преку вештачка интелигенција и логистичка регресија студијата врши моделирање на детерминантите во двата пазарни сегменти во случајот на дипломираните економисти. Резултатите укажуваат дека департманот на студии, должината на студирање, стекнатото неформално образование, местото на раѓање и доходот на семејството се клучните фактори на влијание врз двата пазарни сегменти. Спроведената логистичка регресија за вработливоста на студентите од чеврта студиска година укажува на статистички значајно влијание на независни варијабли како реализирани форми на вработување во текот на студиите, успехот во текот на студиите и доходот на семејството. Спроведеното истражување сумирано во рамките на оваа монографија има големо научно, но и практично значење за мала економија во развој. Студијата е прва емпириска анализа во која се моделираат двата сегменти на пазарот на труд низ перспективите на дипломираните економисти во македонската економија при што добиените резултати и дадените препораки се од особено значење за креаторите на економската политика во нашата држава. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Foreign Direct Investment and Domestic Investment in Central, Eastern and South-Eastern Europe: A Multivariate Time Series Analysis(SCF Society and Bandirma Onyedi Eylol University, 2022-12-14); Merdzan, GunterThe paper uses the autoregressive distributed lag (ARDL) approach to examine whether foreign direct investment (FDI) crowds in or crowds out domestic investment in the economies of Central, Eastern and South-eastern Europe from 1995-2021. The selected group of countries includes countries with different levels of economic development, countries from the former socialist system, countries that are in a transition process and countries that have successfully overcome that process. The breadth and diversity of the sample allow for obtaining statistically valid results. The results of the empirical research show that foreign direct investments have a shortterm crowding-out effect on domestic investments, followed by long-term crowding-in effects. Of course, this depends on the choice of control variables in the different models. However, it takes some time for such investments to affect the domestic economy fully. Furthermore, we found out that in some countries, institutions moderate the crowding-out effects of FDI. That is, institutional quality is found to be important in determining the relationship between domestic investment and FDI. JEL Classification: E22, F21, F41 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Impact of Company-Specific Determinants on Corporate Cash Holdings: Evidence from South-East European Countries(University of Pardubice, Faculty of Economics and Administration, 2022-11-01); This paper investigates the impact of intercompany determinants on corporate cash holdings in South East Europe. We researched a large sample of companies listed on the stock exchanges. We found that SEE companies’ cash holdings on average is 6.94% of the total assets, which is lower than in developed countries. Intercompany determinants have a significant impact on the company’s cash holdings. Our results suggest that cash holdings are positively affected by the size of the firms, cash flow, cash flow uncertainty, debt maturity, and growth opportunities. Cash holdings are negatively affected by the net working capital, financial leverage, and capital expenditures. SEE companies operate in underdeveloped financial markets with limited access to finances, and their cash holding decisions are mostly determined by the transaction motive. Our findings indicate that companies in SEE do not pursue a cash optimization policy. They largely follow the pecking order pattern and the cash holding of the firm is mostly determined by means of the relationship between the capital investments and internally generated funds. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, ANALYSIS OF THE DETERMINANTS OF GRADUATES EMPLOYABILITY(University of Belgrade – Faculty of Organizational Sciences, 2022-06); ; Having a university degree does not guarantee employment, hence finding and then keeping a job, especially for young people is a major issue in most economies. In the segment of Higher education institutions (HEI) everywhere around the globe pressure is growing to produce employable graduates (Grotkowska et al, 2015; Mok et al., 2016). Obtaining a complete and integrated picture of the conditions and tendencies in the labor market should inevitably be accompanied by an analysis of employability of the young, highly educated workforce. Considering that, analyse of the characteristics of graduates (young students who are in their final year of studies), as well as the factors that affect their integration in the labor market, are gaining importance as a result of increased mobility and competitiveness in the labor market. They have raised great research interest and therefore have been included in this research paper. Employability is about being capable of getting and keeping fulfilling work (Hillage & Pollard, 1998). In this context higher education institutions (HEI) worldwide have been under pressure to produce employable graduates (Grotkowska et al, 2015; Mok et al., 2016). Higher education institutions (HEI) contribute to external benefits by providing young workers with an opportunity to invest in human capital rather than being unemployed, stimulate the local economy and drive productivity spillovers (Hermannsson, Rosario, & Marcello, 2021). The objective of this paper is to determine the basic factors that affect the employability of students before graduation. Research is based upon the sample consisted of the students of Faculty of Economics – Skopje, who are in their final year of studies. The questionnaire distributed includes well designed and structured questions, so that it provided solid foundation for information to be obtained related to their demographic, economic characteristics, as well as their average grade, and their opinion about their future goals. Most of the information is based on the student’s own perception, so student self-perceived employability is considered. In this light employability of graduates has taken more importance in recent years due to the grim economic situation, growth, and an increasingly competitive global labor market. The self-perception is a critical component of employability; to comprehend the term employability, an assessment of this vital component and its elements is required. Apart from examining and understanding the students’ perceptions of their prospect of success in the graduate labour market the objective of this paper is to examine the main influence of various factors related to this field of study considering the Macedonian economy. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Analysis of the Determinants of Graduates Employability(Springer Nature Switzerland AG, 2022-11); ; Having a university degree does not guarantee employment, hence finding and then keeping a job, especially for young people is a major issue in most economies. In the segment of Higher education institutions (HEI) everywhere around the globe pressure is growing to produce employable graduates. The objective of this paper is to determine the basic factors that affect the employability of students before graduation. Research is based upon the sample consisted of the students of Faculty of Economics – Skopje, who are in their final year of studies. The questionnaire distributed includes well designed and structured questions, so that it provided solid foundation for information to be obtained related to their demographic, economic characteristics, as well as their average grade, and their opinion about their future goals. Most of the information is based on the stu dent’s own perception, so student self-perceived employability is considered. The basic research findings indicate the fact that there is a significant positive relationship between employability after graduation and the realization of some form of employment during the study. The results confirms the basic hypothesis that those students who during their studies have achieved integration in the labor market, are significantly more likely to be employed immediately after graduation. The level of income in the student's family also has a statistically significant positive correlation on their likelihood of employment after graduation.