164 research outputs found
How to accelerate export-led growth in contemporary world?
Globalization brings the threat of a weakened SME sector, since its role in (direct)
exporting is less than proportional to its size; this reflects the economies of scale
characterizing big markets. But globalization can also increase the importance of a strong
SME sector, either where direct SME exports are feasible or where SME subcontractors help
keep the country's large exporters competitive. Many markets are too small to have enough
large firms to curtail the use of monopoly/monophony and oligopoly/oligopoly power, so
price-competition and quality-based competition tends to come from SMEs.
Prices of domestic products on international markets are often underestimated because
of the poor reputation or ranking the products with a low degree of processing. Namely, it is
necessary small and medium enterprises to make efforts in this domain to contribute in a way
that they will make the promotion of domestic products, have organized a joint presentation
on external markets, will exhibit initiatives for creation of distribution centers. In this regard,
the entry of FDI in manufacturing is expected to contribute to the production of high quality
products, and distinctive products, which would lead to higher absolute prices, higher
productivity and lower unit labor costs of products.
So the recommendations are on building relationships with financial institutions,
especially with banks, to facilitate funding to SMEs. In this context, it is useful to identify
where SMEs are dealing in foreign currency and seek opportunities to provide value-adding
advice in areas such as managing foreign exchange risks and forecasting currency needs.
In this context, the key factors for realization of these aims are innovation and
knowledge that would help for increasing competitiveness as the role of FDIs for productivity
and efficiency growth, with support of real exchange rate by stimulating the growth of export,
too. The domestic industry by using knowledge, innovation development and upgrading the
capacity of the small and medium enterprises can take the necessary changes for its output
and increase export performance. All of this can contribute to sustainability of the economic
growth and economic integration especially of small economies on which mainly this paper is
focused with special emphasis on the Macedonian economy
Почеток на ново геополитичко и трговско рекомпонирање на светот?
По прашањето како CBDC влијае на БДП и благосостојбата на една земја, резултатите укажуваат на различни придобивки потенцирајќи ја ограничената способност на економските модели да ги проценат исходите поради сложеноста на условите. Прогнозите укажуваат на идни форми на CBDC кои ќе ги олеснуваат алтернативните или билатерални меѓународни платежни системи кои работат надвор од актуелните доминантни системи. На пример, државна валута со blockchain основа може да функционира надвор од системот за плаќање SWIFT, што ги олеснува глобалните плаќања. Ова ни дава за право да резимираме потенцијална поголема диверзификација во меѓународните платежни процеси и монетарни системи далеку од американскиот долар и други големи валути и далеку од лимитираниот пакет на институции. Како резултат, голема е веројатноста државните и финансиските актери да стекнат поголема независност и автономија над плаќањата кои ги спроведуваат во меѓународната сфера. Но дали на повидок е можно геополитичко рекомпонирање во светот, што и не треба да го сфаќаме како далекусежна импликација. Напротив, државите може потенцијално да користат дигитални валути на DLT-основа за геополитички добивки и јакнење на својата позиција
Globalization and International Trade
Globalization as a term refers to the growth of interdependence between
countries, resulting in increased integration of trade, finance, people and ideas in a
common global market. International trade and cross-border investment inflows are
main elements of this integration. As a process, globalization began after World War
II and has accelerated significantly since the mid-1980s. It is considered to be
governed by two main factors.
The first one, includes technological advantages that have reduced transportation,
communication, and deployment costs. These advantages are usually economically
feasible for companies that locate different stages of production in multiple
countries. The other factor relates to the increasing liberalization of trade and the
capital market. Namely, a growing number of governments are refusing to protect
their economies from foreign competition or from the effects of import tariffs and
non-tariff barriers such as import quotas, export restrictions and legal bans.
Numerous international institutions established during World War II,
including the World Bank, International Monetary Fund, and GATT, succeeded in
1995 through the WTO (World Trade Organization), all playing an important role in
promoting protectionism to be replaced by free trade. Empirical evidence suggests
that globalization has significantly boosted economic development in economies of
East Asian such as Hong Kong (China), the Republic of Korea, and Singapore. But
not all developing countries equally participate in globalization or are in a position to
benefit from it. In fact, except for most countries in East Asia and some in Latin
America, developing countries are rather passive in their integration into the world
economy. For example, Sub-Saharan Africa's share of world trade has declined
steadily since the 1960s, as the share of major oil exporters plummeted as oil prices
fell in the early 1980s.
Overall, countries that actively participate in the process of globalization, the benefits
come with new risks and challenges
SMEs Empowerment Through International Aspirations
Challenges for SMEs development are multi-dimensional. As trade barriers, transport and
communication costs fall, SMEs are required to add more value to their products to stay ahead and compete
with lower cost rivals. Consumer demand is changing rapidly as incomes rise and choices increase when
imported products become easily available in domestic markets. Competition within the developing world for
export markets, foreign investment and resources is also intensifying.
This was motivation to focus in this paper on SMEs, its export competitiveness, business strategies, access for
financing and so on. Enhancing SME competitiveness requires creation of enabling legal, regulatory and
administrative environments and capable institutional structures, and most importantly human capital and a
sustainable environment. Removing supply-side constraint to trade and investment, require firms to build up
their competitive advantages. Public and private sectors in transition and developing countries must work
together to improve the functioning of markets at home, while intensifying efforts to integrate into the world
economy
Financial Flows, Financial Stability and Managing The Capital Structure in Emerging Country
: New financial flows and the development of fin-tech are making up different rules of managing the
structural of company’s capital. The globalization brings new views and acting of managers for using financial
sources and rise of the company. So, capital structure is linked with financial market development, market
conditions, availability of debt, type of industry sector as the control of managers. Capital structure is linked with
company’s success. Measuring the profitability of the company is not enough due to the fact that there are cases
where profitable company does bankrupt. That is the reason in this paper to analyze the financing performance and
successful managing of the financial (capital) structure in Macedonia. The companies (the sample in the survey) are
divided on companies which have opened bankruptcy proceeding in 2021 and companies which haven't opened
bankruptcy proceeding in 2021. The analysis of the survey is done by Chi-square test, T-test and Levene's test for
equality of variances
Financial Crisis and Balkan Perspectives on the EU
In this paper we put emphasis on the financial crisis and prospects of the euro and the Western
Balkans. Here are highlight the problems with the size of the status quo related to the euro-zone financial
and political crisis, which will make a frame and describe the current crisis and its management in order
to assess its consequences. They will be reviewed and the consequences for the Balkans, which includes
problems with the Balkan EU perspective. It will also sketched what should be done in institutional terms
in order to prevent future crises.
Part of the paper is devoted to assessing proposals for a European Monetary Fund, which would
define a plan in the context of labor. It will eventually make a different perspective on issues that are still
open and critical and which are important for crisis management in the euro zone, and will refer to the
resolution of sovereign debt
Strategic thinking and management elements for strategu execution positively affect on business performance
Business leaders are under pressure from stakeholders to comply with their demands while
maintaining the organization’s competitiveness in increasingly complex markets. So, leaders are
striving to continuously formulate strategies with management elements that will help them deliver
more value to their customers and stakeholders.
Strategic thinking is important to guide for examining all markets which are relevant to the core
business of interest. Also, its necessary for analyse the relevant forces creating new markets as
identifying business strategy requirements.
Therefor, are used management elements, management models as guides for managerial activity in
the business world for increasing a firm’s competitive advantage.
Business management tools positively affects business performance and a strategic management
orientation for formulating and implementing objectives, policies and performance.
Companies confirms that integrated management model will result in dramatic benefits. In this way,
strategy thinking enable company to determines its objectives, purposes, or goals, produces the
principal policies and plans for achieving those goals, as defines the range of business the company
is pursue and positively affects business performance
Testing the Possible Occurance of a Currency Crisis in the Second Decade of the 21st Century
Typically, currency crisis is linked with situation as ruined credibility of domestic economic policies.
Monetary authorities must be careful in maintaining stable exchange rate regime. This means falls in real incomes,
losses in output, decreases in employment, shocks which are reasons for outflow of investment and capital. In order
to provide adequate explanations of disorders that occur in a financial system and collapse of the currency regime,
the aim of this rеsеаrch is to analyze (theoretical and empirical) the possibility of currency crisis occurrence in
Serbia in pre-pandemic period, from 2010 to 2019. Through empirical analyzes are used some indicators which are a
sort of toolbox that may contribute for eаrly revelation of а currеncy crisis.
Kеywоrds: currеncy crisis, еxchаngе mаrkеt pressure index, misery index, Serbia
Estimating Potential Currency Crisis: Evidence from Small and Open Economy
Тhe mаin rеаsоn for the еxchаnge rate sеnsitivity is the dоubts in its crеdibility rеlаtеd to the trаde, wеаknesses in the finаnciаl sеctоr, еxternаl shоcks, pоlitical errоrs, cоuntry risk, еtc. Тhis paper discuss about potential currency crisis in the Republic of N. Macedonia for the period before pandemic and give the answer to what kind of lessons should we take into account regarding past period which is measured in the research. The paper presents the results of a possible crisis scenario in N. Macedonia and give statistical analysis of the relationship of the indicators of a currency crisis, examining two questions - are disorders in Macedonia that can cause a currency crisis and which generation currency crises would be the closest for Macedonia
Developing Banking Industry through Human Capital Needs
The paper determines that human resource management (HRM) in banking sector must embrace strategic human
resource planning programs with all banks strategy. This underlines the essential meaning of designing an effective
recruitment policy with these strategies as formulation and implementation of active reward policy. Also, banks
should include more active training and development for employees. Banking sector also is human capital intensive
and plays a critical role for the banks in meeting their goals and offering services to its clients. Today, the fast
progress of technology, globalization and “knowledge economy” progress principles are ruling.
This paper shows the impact of the development of employees' human capital on career success, viewed through
different hierarchical positions in a particular sector in this case - banking industry
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