Petrevski, Goran
Preferred name
Petrevski, Goran
Official Name
Petrevski, Goran
Main Affiliation
Email
goran@eccf.ukim.edu.mk
16 results
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Item type:Publication, Decentralisation and fiscal performance in Central and Eastern Europe(Taylor & Francis Ltd, 2021); This paper provides empirical evidence on the association between decentralisation and budget deficits of the general government for a panel of 11 former transition countries during 1991–2018, controlling for the effects of various demographic, institutional, and macroeconomic variables. We provide evidence that decentralising government activities in Central and Eastern Europe (CEE) has favourable effects on the fiscal position of general government. Also, we show that the greater reliance on intergovernmental grants as a source of finance of local governments does not have detrimental effects on the overall fiscal discipline. Therefore, we cannot support the so-called ‘common pool’ hypothesis, which predicts that intergovernmental transfers lead to higher public expenditure, thus exacerbating the fiscal imbalances of the general government. On the other hand, we show that the effects of revenue decentralisation depend critically on the specific measure of local government revenue. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, МАКРОЕКОНОМСКИТЕ ЕФЕКТИ НА ФИСКАЛНАТА ПОЛИТИКА ВО РЕПУБЛИКА МАКЕДОНИЈА(Македонска Академија на Науките и Уметностите, 2017); ; ; ; - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The transmission of foreign shocks to South Eastern European economies: A Bayesian VAR approach(Elsevier BV, 2015-12); ; Bogoev, JaneThe paper analyses the macroeconomic effects of foreign shocks in three South-East European (SEE) economies: Croatia, Macedonia and Bulgaria. In this regard, we investigate the transmission of several eurozone shocks (output gap, money market rates and inflation) on various macroeconomic variables in the aforementioned countries (output, inflation, money market rates and budget deficits). We trace the effects of foreign shocks on the basis of impulse response functions obtained from the Bayesian Vector Auto Regressions (VARs) separately for each country. The main findings from our study are: first, economic expansion in the eurozone has strong output and inflation effects on SEE economies, implying some degree of synchronization of business cycles; second, eurozone inflation is instantly and to a great extent transmitted to domestic inflation, suggesting that inflation in the SEE economies is mostly driven by foreign inflation; third, domestic money market rates are not closely linked with eurozone money markets; fourth, monetary policy in the SEE countries does not seem to be responsive to eurozone inflation shocks; and fifth, the fiscal authorities attempt to offset the spillover effects from both economic expansion and monetary tightening in the eurozone. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The transmission of foreign shocks to South Eastern European economies(Springer Science and Business Media LLC, 2014-11-05); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Real Convergence in Central and Eastern Europe: An Empirical Analysis(Ss Cyril and Methodius University in Skopje, Faculty of Economics - Skopje, 2019); ; ; The process of integration of the former transition economies in the European Union (EU) is associated with numerous problems and challenges. The readiness and suitability of the country for integration within the EU is directly dependent on the achieved nominal and real convergence. Without this convergence, the integration process would face in the future risks of asymmetric shocks, which would generate poor economic performance in the absence of alternative adjustment mechanisms. This paper deals with the process of convergence of the Central and Eastern European (CEE) countries towards the EU and attempts to identify the main driving factors behind this process. In these regards, we first provide an overview of the real convergence through an analysis of several economic variables – rate of approximation of real GDP per capita and price levels, trade integration, harmonization of the economic structure and achievements in the labor market. In addition, we offer a formal econometric evidence on the main determinants of the convergence process, based on a panel data for 10 CEE countries during 2000-2015 period, estimated with fixed effects. The results of our study imply that higher savings and investment ratio, higher labour productivity, more efficient labour markets (lower unemployment) and macroeconomic stability (lower inflation and lower budget deficits) are conducive to real convergence. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Decentralisation and Income Inequality in Central and Eastern European Countries(Taylor & Francis, 2019); This paper provides empirical evidence for the association between fiscal decentralisation and income distribution for a panel of 11 economies from Central and Eastern Europe (CEE) during 1992–2016. We focus on three research topics: the effect of decentralisation on income inequality; the effects of the structure of subnational government finance on income inequality; and the validity of the Kuznets hypothesis. The main findings from the empirical exercise are as follows: first, we provide firm evidence on the presumed favourable effects of fiscal decentralisation on income distribution in the CEE countries; second, our empirical model suggests that the effects of fiscal decentralisation on income inequality are dependent on the source of finance of subnational governments, i.e. intergovernmental transfers may have a role in income equalisation; third, we cannot confirm the validity of the Kuznets hypothesis in CEE countries. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Real Convergence in Central and Eastern Europe: An Empirical Analysis(Faculty of Economics, Skopje, 2016); ; ; The process of integration of the former transition economies in the European Union (EU) is associated with numerous problems and challenges. The readiness and suitability of the country for integration within the EU is directly dependent on the achieved nominal and real convergence. Without this convergence, the integration process would face in the future risks of asymmetric shocks, which would generate poor economic performance in the absence of alternative adjustment mechanisms. This paper deals with the process of convergence of the Central and Eastern European (CEE) countries towards the EU and attempts to identify the main driving factors behind this process. In these regards, we first provide an overview of the real convergence through an analysis of several economic variables – rate of approximation of real GDP per capita and price levels, trade integration, harmonization of the economic structure and achievements in the labor market. In addition, we offer a formal econometric evidence on the main determinants of the convergence process, based on a panel data for 10 CEE countries during 2000-2015 period, estimated with fixed effects. The results of our study imply that higher savings and investment ratio, higher labour productivity, more efficient labour markets (lower unemployment) and macroeconomic stability (lower inflation and lower budget deficits) are conducive to real convergence. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The effectiveness of fiscal and monetary policies in a small open economy – the case of Macedonia(Taylor & Francis Online, 2019-05); ; In this article, we use a recursive VAR model to study the macroeconomic effects of fiscal and monetary policies in Macedonia as well as their interactions during 2000–2014. The main findings from our empirical investigation are as follows: first, an increase in public expenditure results in lower economic activity, higher public debt and a loss of foreign exchange reserves; second, an increase in the public revenue has positive output effects accompanied by rising prices, higher foreign exchange reserves and a modest reduction in the public debt; third, a rise in the central bank’s interest rate produces conventional adverse effects on economic activity followed by a decline in the price level; fourth, monetary and fiscal policies act as strategic substitutes; and fifth, our estimates of the fiscal multipliers imply non-Keynesian effects of fiscal policy. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Fiscal and monetary policy effects in three South Eastern European economies(Springer Science and Business Media LLC, 2016-03); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Економско-финансиски ефекти на локалните финансии: компаративна анализа на Р. Македонија и земјите од Југоисточна Европа(Универзитет „Св. Кирил и Методиј“ во Скопје, Економски факултет - Скопје, 2019); ; ; ;