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    Analysis of the Determinants of Graduates Employability
    (Springer Nature Switzerland AG, 2022-11)
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    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.
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    Tobacco farming and the effects of tobaccosubsidies in North Macedonia
    (E.U. European Publishing, 2022-07-05)
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    Hristovska, Bojana
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    Spasova, Tamara
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    What Determines Informal Economy and Informal Employment - The Case of North Macedonia
    (University of Belgrade, Faculty of Economics and Business - Publishing Centre, 2022)
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    The importance of the informal economy is seen in the fact that more than 60% of world employment operates in some form of informal economy. Additionally, on average, about 35% of GDP in developing countries is generated in the informal sector, while the informal sector in these countries employs about 70% of the workforce. In the case of the Republic of North Macedonia, this proportion ranges from 36% to 24% for the period 2006 - 2021 which confirm the relevance of this research. The aim of the paper is first to estimate the level of informal economy in the country and furthermore to analyze the impact of the main determinants - labor market determinants on the informal production and informal employment in the Republic of North Macedonia. We employ regression analyses for the period 2006-2021 to determine the key factors behind informal economy and informal employment. The following variables are included in the analysis: Labor Freedom, Tax Burden, Business Freedom, Minimum Wage, and Self-Employed workers. The results of the empirical analysis show that the increase in Labor Freedom and Tax Burden has statistically significant impact on informal production growth, while increase in Business Freedom statistically significantly reduces the informal economy. The increase in the proportion of the minimum wage relative to the average wage causes a reduction in informal production. Regarding informal employment, the obtained results show that the growth of Labor Freedom and Business Freedom has statistically significant impact on informal employment. Also, regarding the self-employed, the growth of this category of employment has statistically significant positive impact on the growth of informal employment.
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    Labour Productivity in terms of the Fourth Industrial Revolution
    (Faculty of Economics - Prilep, 2020-06)
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    Recently, many studies and analysis confirmed that the world is at the beginning of a powerful process of transformation that will radically change our lives, ways of working and communicating.The Fourth Industrial Revolution is expected to improve the computerization of manufacturing industry and focuses on equipping the production with high technology. Three main goals of Industry 4.0 could be highlighted as: (1) Reduction of the human factor in manufacturing thus eliminating human errors. (2) Achieving high level of manufacturing flexibility and creating conditions for designing products that meet the specific requirements of the consumer. (3) Intensification of the production process.This paper aims to present the main trends in this field, to explain the benefits of technology and digitization for the global economy as well as to elaborate the importance of preparing different segments of society for effects from the Fourth Industrial Revolution onto the global labour market. This study obtains a panel data of six countries (France, Germany, Italy, Spain, UK and USA) for period between 1985 to 2017. The results have shown that information and communications technology and multifactor productivity are variables who have significant and positive impact on labour productivity while the variable average hours worked per person employed has a negative impact. Additional analysis of the demographic and socio-economic trends shows that the labour market will experience radical changes in the future.
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    The Link between Productivity and Labour Compensation in Selected Central and Southeast European Countries
    (Faculty of Economics in Banja Luka, 2019-10)
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    The link between labor productivity and labor compensation has been of great interest in economic research. The traditional economic theory argues that there is a positive link between productivity and workers’ compensation. According to this theory, increasing labor productivity will cause an increase in the wage level and will boost the average household purchasing and consumption power. However, many research studies addressing this issue indicate a weakening of the link between labor productivity and compensation received by employees, with a rising divergence since the 1980s, when labor productivity started growing faster than real wage. The purpose of this research is to analyze the extent of the decoupling phenomenon in selected CEE countries compared to Western European countries. In this respect, the paper attempts to explore the causal relationship between productivity and real labor compensation and offer empirical evidence for the existence of the so-called Great decoupling between the two variables.
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    Effects of Labour Market Measures and Policies on Improving Labour Market Performance in Central and South Eastern European (CSEE) Countries
    (Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2025-12)
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    Trenovski, Borce
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    The Impact of Education on Youth Employability: The Case of Selected Southeastern European Countries
    (SAGE, 2022-01)
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    Mujcinovic, Alen
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    Gasparovic, Slaven
    This paper focuses on the processes of school-to-work transitions in a selected group of countries from South-eastern Europe (SEE), namely: Bosnia and Herzegovina; Croatia; Montenegro; North Macedonia; Serbia; and, Slovenia. Each of these countries display the same roots of development in their educational systems: however, due to their transition and integration processes within the European Union, they implemented different concepts of reforms within their educational systems. In addition, the challenges of youth employability are a common problem for each of the selected countries, and the effectiveness of the processes of school-to-work-transition varies across the countries. By using panel data and multiple linear regression models, this paper estimates the impact of different educational levels on youth employability and changes in the rates of NEET population (aged 15–24) in the selected group of countries over the period 2009 to 2019. The results suggest that the impact of the attained level of education has an ambiguous effect on the rates of youth employment; moreover, the relationship with changes in NEET rates are statistically significant and negative in most of the selected group of countries.
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    The Impact of Remittances on Economic Growth in Western Balkans - A Panel Approach
    (Ss Cyril and Methodius University in Skopje, Faculty of Economics - Skopje, 2021-11-13)
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    The migration is one of the constitutive features of Western Balkans’ historical specificity, which significantly changed Balkan societies in the last two centuries. One crucial effect of intensive emigration is high remittances. Cross-country analyses and evidence from household surveys suggest that migration and remittances reduce poverty in the origin communities. In addition, remittances lead to increased investment in education, health, and small businesses. The diaspora can be a source of capital, investment, knowledge, and technology transfer. The inflow of remittances can contribute to the economic development of the remittance-receiving country, provided that the country can use these funds to finance investments that will enable it to produce export or investment goods to replace imports. This paper examines the impact of remittances on economic growth in the Western Balkans (North Macedonia, Serbia, Albania, Kosovo, Montenegro, and Bosnia and Herzegovina) last two decades. The relationship between economic growth, remittances, final household consumption, domestic investments, and trade is examined through a panel approach. The paper uses annual data obtained from the World Bank World Development Indicators. The results of the empirical analysis help determine the relationship between remittances and economic growth and provide a solid base for policymakers to direct remittances into productive investments. The general conclusion for the region is the need to implement policies that will strengthen the financial system to enable a more significant positive impact of remittances from migrants on economic growth.
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    Islamic Finance Tools as an Alternative to Prevent Future Global Crises
    (Pazıl Reklam, Danışmanlık, Matbaa ve Organizasyon, 2019-04)
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    The Islamic economy, although with a long tradition and application, finally got its five minutes in terms of the Global Economic Crisis, at a time when the basic postulates of the neoliberal conception fell into a crisis and showed that individual/personal interest, deregulation and financial innovations developed over the years are particularly vulnerable to financial shocks and economic crises. When it comes to Islamic economy it is inevitable to elaborate Islamic finance as one of the fastest growing segments of the global financial industry with global funds expected to exceed $ 3 trillion by 2020. They have become increasingly relevant to financing development, also in non-Muslim countries. In order not to be caught in another crisis that will result in a much larger scale, important changes are needed to eliminate injustice and inequality in financial affairs and to provide discipline to the financial system. In this respect, the financial instruments offered by the Islamic financial system, where ethical rules stand out, appear to be an alternative to what traditional banks offer. One of the main reasons, why in number of research Islamic finance instruments are offered as an alternative to traditional instruments, according our hypothesis is that most of the activities that triggered the 2008 Global Financial Crisis are not in the Islamic financial system implemented under Islamic rules. The paper will elaborate first the financial architecture concerning Global Economic Crisis, as well as financial alternatives to some of the main drivers of the last Global Crisis. As alternatives to conventional financial instruments the following financial instruments representative of Islamic financial system, will be further analyzed: Mudaraba, Murabaha, Musharaka, Ijara, Bay Al-Salam, Sukuk, etc.