Nedanovski, Pece
Preferred name
Nedanovski, Pece
Official Name
Nedanovski, Pece
Main Affiliation
Email
pecen@eccf.ukim.edu.mk
4 results
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Item type:Publication, THE RULE OF LAW AND ECONOMIC GROWTH: EVIDENCE FROM SOUTHEAST EUROPE(Faculty of Economics and Business, University of Belgrade, 2023); The rule of law is a principle that promotes the limitation of arbitrary power. Although there is no universal definition in the literature, this notion encompasses several important topics, including property rights security, government checks, and corruption control, among others. There has recently been a rising body of research showing the importance of the rule of law in supporting economic development, fostering justice, and enhancing democratic abilities in nations around the world. The paper focuses on understanding the importance of the rule of law for economic prosperity in the countries that geographically belong to the region of Southeast Europe. Consequently, the following countries are included in the analysis: Albania, Bosnia and Hercegovina, Bulgaria, Croatia, Greece, Kosovo, Montenegro, North Macedonia, Romania, Serbia, and Slovenia. First, we look at the relationship between the various rule of law indicators in the countries we selected. Three key indicators of the rule of law are examined: the World Bank’s rule of law index, the Heritage Foundation’s rule of law index, and the Freedom House’s rule of law index. Even though the philosophy and method behind these competing measures of rule of law differ, the analysis revealed a high correlation between the various indicators. In the second half of the paper, we evaluate the influence of the rule of law on economic prosperity in Southeast Europe from 1996 to 2020. Our hypothesis is that stronger adherence to rule of law principle stimulates economic growth in this region. This hypothesis is supported by the regression model results. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, ENVIRONMENTAL AND SOCIAL IMPACTS OF THE PROGRAMME “INTEGRAL DEVELOPMENT OF THE VARDAR VALLEY”(2000-11); The programme for “Integral development of the Vardar Valley” is a complex and long prepared investment activity, aimed at a more intensive economic utilization of the area alongside the river Vardar and its tributaries. The programme consists of a number of projects which are located in the Vardar Valley and its basin, covering an area of about 80% of the country’s territory. The basic component of the programme is a construction of 16 hydroelectric power plants, whereas it involves many other activities, such as environmental protection of the water resources in the country, provision of drinking and sewerage water, flood protection, development of the tourism and the recreational amenities, river traffic development, land traffic improvement, etc. The paper deals with the most important environmental and social impacts expected to be brought about by the implementation of the programme. Namely, considering the significant interaction with the ecosystems, the implementation of the programme and its further operation will inevitably cause certain negative consequences upon the near environment. In the case of the social impacts, it is necessary to determine the consequences of the people’s resettlement, the destruction of some cultural amenities, etc. caused by the inundation of the land. Disregard for these impacts, and especially the activities necessary to reduce their consequences, might create a serious obstacle to the completion of the individual projects and the programme as a whole within the scheduled time and the planned resources. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Digital Financial Inclusion and the Level of Financial Development(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2025-12); ; Naumoski, AleksandarThe paper explores the issue of digital financial inclusion as a means to overcome the traditional hurdles in access to financial services and its impact on the level of financial development. Using a broad sample of 102 countries worldwide and a time series of data ranging from 2011 to 2021, a Principal Component Analysis is applied to derive a single measure of digital financial inclusion (DFI). The ranking shows that the developed countries and the European nations in general dominate the list, while the bottom is mostly populated by African countries. Using a modified digital financial inclusion index to meet the availability of data, a regression analysis using OLS and GMM techniques was applied to determine the impact of DFI on the level of financial development. The results show that digital financial inclusion has a positive impact on financial development, so the authorities should closely monitor and support the use of digital technologies in the financial sector, as well as enhance the access of the population to these opportunities and their ability to use modern communication technologies. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, RULE OF LAW AND ECONOMIC GROWTH: EVIDENCES FROM SOUTH EAST EUROPE(University of Belgrade, Faculty of Economics and Business - Publishing Centre, 2023); The rule of law is a principle that promotes the limitation of arbitrary power. Although there is no universal definition in the literature, this notion encompasses several important topics, including personal security, property rights security, government checks, and corruption control, among others. There has recently been a rising body of research demonstrating the importance of the rule of law in maintaining economic development, fostering justice, and enhancing democratic capacities in nations around the world. Our paper focuses on understanding the importance of rule of law for economic prosperity in the countries that geographically belong to the region of South East Europe. In our analysis, we include the following countries: Albania, Bosnia and Hercegovina, Bulgaria, Croatia, Greece, Montenegro, North Macedonia, Romania, Serbia and Slovenia. First, we investigate five different rule of law indicators present in the institutional economics literature. Next, we evaluate the influence of rule of law on economic prosperity in South East Europe from 1996 to 2020 in the second half of the article. Our hypothesis that stronger adherence to rule of law principles stimulates economic growth in this region is supported by the regression model results.