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Title: Vector Error Correction Model on FDI and their Impact in the Republic of Macedonia
Authors: Kikerkova, Irena 
Naumovska, Elena 
Toshevska trpchevska, Katerina 
Makrevska disoska, Elena 
Keywords: foreign direct investment
Technological Industrial Development Zones (TIDZ)
Vector Error Correction Model
Republic of Macedonia
Issue Date: 2018
Publisher: Faculty of Economics and Business, University of Zagreb and De Gruyter Open
Source: Kikerkova, I., Naumovska, E., Toshevska-Trpchevska, K., & Makrevska Disoska, E. (2018). Vector Error Correction Model on FDI and their Impact in the Republic of Macedonia. Zagreb International Review of Economics & Business, 21(2), 19-35.
Journal: Zagreb International Review of Economics & Business
Conference: BEE 2017 CONFERENCE- 2nd Business & Entrepreneurial Economics Conference
Abstract: The subject of this paper is the foreign direct investment (FDI) inflow in Macedonia and its impact upon the economic growth and development of the country. Its basic purpose is to analyse the interconnection of FDI with a number of economic, political and institutional variables in Macedonia. We decided to apply Vector Error Correction Model (VECM) on FDI impact upon the Macedonian economy. The FDI indicator is calculated as a function of certain fundamental economic variables (GDP growth rate, labor productivity rate, openness to trade, current account balance) as well as of Worldwide Governance Indicators (control of corruption, government effectiveness, political stability, regulatory quality and rule of law). Results obtained by the econometric model should provide relevant conclusions on the impact of the up-to-date FDI inflow upon the growth and development of the Macedonian economy.
ISSN: 1331-5609
DOI: 10.2478/zireb-2018-0012
Appears in Collections:Faculty of Economics 03: Journal Articles / Статии во научни списанија

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