The Macedonian economy gets out relatively little hurt by the global economic crisis not facing with financial crisis, the recession was short-lived, and social crisis emerged in modest sizes. However, the global cris...The Macedonian economy gets out relatively little hurt by the global economic crisis not facing with financial crisis, the recession was short-lived, and social crisis emerged in modest sizes. However, the global crisis revealed the major weaknesses of the economic model which was implemented. It turned out that the Macedonian economy is very dependent on the performance of only a few sectors and movements on the prices of its most important export and import products, and that the scope of supply and demand for domestic goods and services is small. These lectures from the economic crisis posed by the need to create a new model for country economic development in the future. The application of historical, statistical, analytical and comparative method shows that Macedonia should exercise other holistic approach in the remodeling of their economy. This means that, besides keeping macroeconomic and financial policy in the future the Macedonian government should act more vigorously in the direction of creating new jobs and provide greater social security. The economic model that we propose in this paper recommends it be done by encouraging small and medium enterprises, diversification of production, encouraging domestic investments, developing human capital, improving infrastructure, encouraging exports and harmonization the macroeconomic instruments. The application of this model will result in increasing investments, industrial production and exports, increasing the competitiveness of domestic products, reducing the trade deficit and maintaining the macroeconomic stability. The general conclusion of the paper is that application of the proposed economic model should lead to realization of two most important goals： achieving lasting, sustainable and significantly higher rates of economic growth and reducing the high rate of unemployment in the country.展开更多
Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes ...Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes done in the past while creating and running macroeconomic policy and teach them how they should overcome these crises in the upcoming period. The economic growth model of the selected South Eastern European （SEE） economies （Albania, Bosnia, Macedonia, Serbia, Slovenia, Croatia, Bulgaria, and Montenegro） during pre-global economic crisis was based mainly on foreign demand and capital inflows which created big external imbalances in those countries. It was the main reason why those countries were exposed to big vulnerability of external shocks. But, the crisis reshapes the world economic map. Competition on world markets gets new forms and players. The lessons learnt from economic crisis say that there is a need for revising the pre-crisis economic growth model in the selected countries as they are less vulnerable to external shocks. New economic model will enable their long-lasting and more sustainable economic growth in the future. One approach of remodeling their economy is presented in this paper. The main finding of this research is that instead of experiencing external ＂push＂ factors for economic growth by the governments, a promotion of internal resources is needed in order to enable ＂the catching up＂ process of these countries to continue. But, all those countries are members or candidates for becoming European Union （EU） members. That means there is no room for application on entirely new economy growth model, since those countries have to create economic model which has to be convergent to the EU one. There must be different approaches by individual countries in remodeling their economies. The findings of this survey are intended to remind the policy makers of the selected SEE countries of the mistakes they made before and during the economic crisis and the need and directions for remodeling their economies in the post-crises period that will enable their long-lasting and more sustainable economic growth in the future. The position assumed for this research is interpretative using qualitative methods of research. In order to ensure comparability among results, the proposed methodological design will be multiple-case study research on the selected SEE economies.展开更多
文摘The Macedonian economy gets out relatively little hurt by the global economic crisis not facing with financial crisis, the recession was short-lived, and social crisis emerged in modest sizes. However, the global crisis revealed the major weaknesses of the economic model which was implemented. It turned out that the Macedonian economy is very dependent on the performance of only a few sectors and movements on the prices of its most important export and import products, and that the scope of supply and demand for domestic goods and services is small. These lectures from the economic crisis posed by the need to create a new model for country economic development in the future. The application of historical, statistical, analytical and comparative method shows that Macedonia should exercise other holistic approach in the remodeling of their economy. This means that, besides keeping macroeconomic and financial policy in the future the Macedonian government should act more vigorously in the direction of creating new jobs and provide greater social security. The economic model that we propose in this paper recommends it be done by encouraging small and medium enterprises, diversification of production, encouraging domestic investments, developing human capital, improving infrastructure, encouraging exports and harmonization the macroeconomic instruments. The application of this model will result in increasing investments, industrial production and exports, increasing the competitiveness of domestic products, reducing the trade deficit and maintaining the macroeconomic stability. The general conclusion of the paper is that application of the proposed economic model should lead to realization of two most important goals： achieving lasting, sustainable and significantly higher rates of economic growth and reducing the high rate of unemployment in the country.
文摘Every bigger economic crisis, as the current one, to separate national economies as well. However, leaves behind a huge material damage to the world economy and such crises remind national authorities of the mistakes done in the past while creating and running macroeconomic policy and teach them how they should overcome these crises in the upcoming period. The economic growth model of the selected South Eastern European （SEE） economies （Albania, Bosnia, Macedonia, Serbia, Slovenia, Croatia, Bulgaria, and Montenegro） during pre-global economic crisis was based mainly on foreign demand and capital inflows which created big external imbalances in those countries. It was the main reason why those countries were exposed to big vulnerability of external shocks. But, the crisis reshapes the world economic map. Competition on world markets gets new forms and players. The lessons learnt from economic crisis say that there is a need for revising the pre-crisis economic growth model in the selected countries as they are less vulnerable to external shocks. New economic model will enable their long-lasting and more sustainable economic growth in the future. One approach of remodeling their economy is presented in this paper. The main finding of this research is that instead of experiencing external ＂push＂ factors for economic growth by the governments, a promotion of internal resources is needed in order to enable ＂the catching up＂ process of these countries to continue. But, all those countries are members or candidates for becoming European Union （EU） members. That means there is no room for application on entirely new economy growth model, since those countries have to create economic model which has to be convergent to the EU one. There must be different approaches by individual countries in remodeling their economies. The findings of this survey are intended to remind the policy makers of the selected SEE countries of the mistakes they made before and during the economic crisis and the need and directions for remodeling their economies in the post-crises period that will enable their long-lasting and more sustainable economic growth in the future. The position assumed for this research is interpretative using qualitative methods of research. In order to ensure comparability among results, the proposed methodological design will be multiple-case study research on the selected SEE economies.
