Trenovski, Borche
Preferred name
Trenovski, Borche
Official Name
Trenovski, Borche
Alternative Name
Trenovski, Borce
Треновски, Борче
Main Affiliation
Email
borce@eccf.ukim.edu.mk
137 results
Now showing 1 - 10 of 137
- Some of the metrics are blocked by yourconsent settings
Item type:Publication, Policy on Balanced Regional Development in Macedonia-Goals, Challenges, Trends(University Library of Munich, Germany, 2016) - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Testing Fiscal Sustainability in the Republic of Macedonia - A VAR Approach(Varazdin Development and Entrepreneurship Agency, Varazdin, Croatia; Faculty of Management University of Warsaw, Warsaw, Poland; University North, Koprivnica, Croatia, 2017); The recent global financial and economic crisis caused great concerns in many developed countries (especially in the European Union) due to rising debt levels and deterioration of their fiscal space. The adverse effects of high indebtedness highlighted the importance of maintaining sustainable public finances. This problem was not limited to rich and highly developed economies. The Republic of Macedonia also experienced such developments in the fiscal area and the public debt ratio doubled in the last decade. The aim of this paper is to investigate the fiscal sustainability of Macedonia using quarterly data for the period 2005 – 2016. We use a VAR model to determine whether the primary balance responds positively to increases in government indebtedness, thus ensuring fiscal sustainability, or is set exogenously and independently from changes in government liabilities. The empirical analysis shows that the primary balance lacks the necessary and sufficient positive response to an increase in the government debt level that helps prevent a further debt accumulation. These results, together with the drastically increased public debt since 2008, imply a need for a faster adjustment of the primary balance after a government debt shock in order to prevent reaching even higher debt levels and losing a valuable fiscal space - Some of the metrics are blocked by yourconsent settings
Item type:Publication, - Some of the metrics are blocked by yourconsent settings
Item type:Publication, - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Do Wages Reflect Growth Productivity – Comparing the European East and West?(Taylor & Francis Online, 2023-01-19); - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Economic theory, economic policy and economic practice –(case of R. Macedonia)(Faculty of Economics - Skopje, 2009)In order to analyze the between the economic theory, economic policy and economic practice (economic life), we should “dig” deep, to reach the nature of the economic science and to give answers to the following questions: what is the significance of the economic theory, what is the role of the economic policy, why there are changes in the economic paradigms, what type of links exist between economic theory, economic policy and economic practice, is economic practice a slave of the economic theory etc. The research in this paper is focused on development of the relations between economic theory, economic policy and economic practice in the Republic of Macedonia – during two periods: the period when Macedonia was centrally-planned economy and the transition period. At the end we analyze the lacks and malfunctions in the relations between economic theory and economic policy in R. Macedonia, nowadays. Ke y words: economic theory, economic policy, economic practice, economic paradigms, financial crisis, transition, centrally-planned economy. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The role of macroprudential measures in terms of global economic crises – the case of the Republic of Macedonia(CEA, Skopje, 2013); The global financial and economic crisis has revealed the lack of an analytical framework that can help in predicting and dealing with growing global financial imbalances, which can cause serious macroeconomic consequences. If we make a general retrospective of the global crisis, we will determine the fundamental shortcomings in understanding the systematic risk - in fact it is a failure to assess how the aggressive risk taking by var-ious types of financial institutions was the reason for the huge growth in the balance in the entire financial sys-tem. Excessive confidence in the ability of self-adjustment of the financial system led to an underestimation ofthe rising values of debt and leverage, as a result of the credit boom and the increase in the prices of assets.In addition there was an insufficient appreciation of the role of financial innovation and the financial regulation in increasing financial imbalances and the consequences of the real economy.The global crisis was the reason for the revision of the broad policy instruments and measures. In this respect, today's crisis pointed the need to overcome the purely micro-founded approach to financial regulation and supervision and to attract particular attention to the defining of the development of macroeconomic policy elements for financial stability. Policy makers came to a consensus that the purpose of the macroprudential policy is a reduction of the systematic risk, strengthening the ability of the financial system to cope with shocks and a strong support for stable financial system functioning, without the enormous support during the crisis.This paper will be focused on several key issues concerning macroprudential policy: defining the goals of macroprudential policies after the global financial shock; overview of the use of macruprudential measures during the crisis; analysis of the implementation and efficiency of macruprudential measures during the crisis; reasons for cooperation with monetary policy; analysis of the above mentioned issues on the case of the Republic of Macedonia, having in mind the country specific characteristics – small and open economy extremely vulnerable to global imbalances, fixed exchange rate regime. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Socio-economic Determinants of Social Spending in the EU(Center for Economic Analyses, 2019-06); ; The rise in social spending during the last century brought about a significant increase in the total government expenditures and according to many studies, also contributed to the rising public debt. The intent of social spending is reducing and alleviating inequality and poverty and enhancing social cohesion. Empirical evidence shows that countries that make greater efforts in social spending manage to reduce income inequality. However, it should not be on the account of endangering sustainability In this paper we examine whether certain socioeconomic variables influence the level of social expenditure in the EU countries in the last two decades. More specifically, we try to tackle the following questions: Do governments reduce social spending when debt rises, in order to avoid fiscal unsustainability? Do countries spend more on welfare in times of an economic downturn, i.e. is social expenditure counter-cyclical? Do countries with larger income inequality also have higher social expenditures aimed at reducing the larger gap? - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Market economies in crisis – mayor shift in the dominant macroeconomic paradigms(Konrad Adenauer Foundation and the Institute for "Democracy Societas Civilis, 2009)The contemporary global economic crisis has "stirred the waters" and made many people wonder what it represents, where it came from and where it leads us. In this paper we are going deeper, analyzing the shift in the dominant economic paradigms as the cause for a global economic crisis that began in developed market economies. The global economic crisis has changed the balance between the two dominant macroeconomic conceptions - Keynesian and neo-liberal, and created a need for the reconstruction of the core of the contemporary economic science, policy and practice. In the fi rst part of the paper we analyze the relationship between economic theory, economic policy and economic practices in order to better understand the process of the changing balance between the dominant macroeconomic paradigms and the changes that are taking place in the economies affected by the crisis. The second part will explore the relation between the 1930s, 1970s and the contemporary economic crisis on the one hand, and the economic paradigms shift on the other. The third part of the paper will be focused on the neo-liberal economic paradigm which in the last two or three decades has dominated in economic theory, policy and practice and is one of the main causes for today's global economic crisis (starting from the concept and origins of neo-liberalism, its fundamentals, the Washington Consensus as a neo-liberal manifesto and the role of the neo-liberal conception in the fi nancial crisis that has shaken the world). At the end, appropriate attention will be devoted to shaping the relationship between the dominant economic paradigms under the impact of the contemporary economic crisis, its implications on the economic policy and practice, the future of the standard economic science and similar issues. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Determinants Of The Citizens’ Usage Of Electronic Public Services In The Republic Of Macedonia(Scopus (Elsevier), 2019)