Macroeconomic Outlook for the Western Balkans in the Context of the Global Economic Crisis With a Focus on the Republic of Macedonia

The global economic crisis in the past five years has underlined the need for all countries to fundamentally review and strengthen their economic governance. Perhaps no other region in Europe is experiencing greater economic shocks than the Western Balkans, which continues to battle a decline in economic output and an increase in unemployment. In this article, we assess the macroeconomic outlook for the Western Balkan region, including Croatia, Serbia, Albania, Kosovo, Bosnia-Herzegovina, Macedonia, and Montenegro in the years 2012-2013. We use macroeconomic variables that compose economic macro-stabilization hexagon – the real growth rate of gross domestic product, the rate of inflation, the rate of unemployment, the public conventional deficit over GDP, the public debt over GDP, the current account deficit over GDP. Secondary analysis of previous quantitative data and published studies, combined with our own qualitative study in the field, has provided a reliable and convincing basis for analysis. Reducing the negative influence of the crisis on the economies and improving the economic situation of the populations in the respective countries is vital to popular support for, and the advance of, their European perspective. At the same time, despite the severe economic impact of the crisis on these countries, on their economies and the living standards of their populations, this study clearly shows and confirms the pro-European orientation of the Western Balkan countries.The paper considers different studies in view of economic development of the Western Balkan countries during the global economic crisis using statistical macroeconomic analysis. It is also based on the data for economic development of these countries provided by statistics from the IMF’s World Economic Outlook in April 2013 and in particular on recent reports of the European Commission for EU Candidate and Pre-Accession Countries presented in October 2012 and April 2013

The effects of the global economic crisis on Macedonian economy: Some macroeconomic indicators and future policy recommendations

The recent economic and financial crisis caused a severe blow to the fragile Macedonian economy, halting the positive development trends in the last decade. This, has in turn, intensified the future challenges. The paper intends to analyze the impact of global economic crisis on the Macedonian economy focuses mainly on the macroeconomic level, identifying and analyzing fluctuations of major macroeconomic indicators that reflect the development and macroeconomic balances of the economy, such as GDP, the level of employment, inflation, budget deficit, public debt, etc. Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field, has provided a reliable and convincing basis for analysis. The experiences and lessons taken from the global economic crisis should serve as a basis for changing the current economic model with a new one in order the economy of the country to catch a connection with the intense changes that are expected to occur in the coming period. It is expected that creating new economic model in Republic of Macedonia will result in multiple positive effects that primarily manifested in the increasing number of newly small and medium enterprises, domestic investments, industrial production, GDP, number of new employees and total exports as well as in reduction of the trade deficit in maintaining macroeconomic stability of the country

ANALYSES OF THE GENDER INEQUALITY IN THE MACEDONIAN LABOUR MARKET AND RECOMMENDATIONS FOR WOMEN ENTREPRENEURSHIP DEVELOPMENT

The aim of the paper is to provide critical analysis of the current position of women in the Macedonian labor market and to point out the opportunities and barriers for Macedonian women entrepreneurs. The paper methodology is largely based on the classical methods of desk-based research of the available literature and data retrieved from comparable international databases such as Eurostat, GEM Special Report of Women’s Entrepreneurship, Female Entrepreneurship Index, and data from national sources. Women in North Macedonia still have lower participation in the labor force, suffer from higher rates of unemployment and women's entrepreneurship is underdeveloped and there is a lack of governmental support into concrete policies. Finances, lack of information, and knowledge of how to run and manage a business as well as the challenge to balance the work and family engagements are the main problems facing women entrepreneurs in the Republic of North Macedonia. Other constraints include socio-cultural barriers; barriers relating to networks of information and assistance, and access to finance and investment funds

The Impacts of Digital Transformation

Science is like a wall that rises above the bricks below. For this reason, I would like to thank the authors of the resources used in this book and all the contributors to the development of the science. The development of technology and its use in all areas of human life cause transformation. This transformation is effective in many areas such as human life, business processes, ways of doing business, distribution channels, social and cultural values, government processes and etc. This transformation brings both advantages and disadvantages so these affect so many areas. The main purpose in the publication of this book is to draw attention to the effects of the irresistible changes of Digital Transformation. In this book, there are 9 chapters that cover the different aspects of Digital Transformation written by authors from different countries. I think the chapters will contribute to science and humanity. With this book, which we have created as a result of a detailed and meticulous study, academics, employees, students and anyone who is interested in digital transformation in the international arena will learn useful information about the changes and the impacts facing the world

EXAMINING RURAL REGIONS IN HUNGARY AFTER EU ACCESSION: PUBLIC MANAGEMENT OF SOME KEY PERFORMANCES (2004-2014)

With almost half of the total population (46.85%) of the population living in rural isolated places, Hungary is one of the top rural EU- member countries. The main goal of this research in the paper is the analysis of the ten-year period starting from 2004 until the beginning of the most recently adopted the Hungarian Rural Development Programme (2014-2020). In order to achieve this goal, the paper presents the main functional EU and Hungarian efforts or decisions that pertain to the process of rural development in the country. The accent is put on testing the relationships by performing correlation analysis of the ten socio-economic variables in these regions. They are rural GDP, population density, medical doctors, hospital beds, students, roads, unemployment, mortality, infant mortality and migrations. The research results of the performed correlation analysis points to different conlusions

THE COMPETITION POLICY IN WESTERN BALKAN COUNTRIES: HOW FAR THEY HAVE COME ON THE EU ACCESSION “ROAD?”

Competition policy in the Western Balkan countries has recently gained in significance, in parallel with the acceleration of their EU accession process. Competition policy played a central role in the development of the EU, its institutions and in particular the EU internal market. Competition legislation aims to prevent distortions of competition that harm the economy and, at the same time, to assure freedom of choice of economic agents. A competition policy adopted by the government should include both: economic policies that enhance competition in local and national markets, and competition law designed to stop anti-competitive business practices. The goal of this paper is to analyse the recent developments in the area of competition policies in Western Balkan countries i.e. Albania, North Macedonia, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo. In the Western Balkan countries, the progress in this policy area has been generally slower than in other areas of government. This can be explained partly by the complex environment in which competition policies and regulators are set up in any country. However, there could be also some other features at play, which are characteristic of the transition countries. In addition, in the last 20 years there were great efforts by the national governments to fully adhere with the EU competition policy principles and regulations

INNOVATION STRATEGIES FOR YOUTH TOURISM AS A CONTIBUTION TO THE ECONOMIC DEVELOPMENT OF THE WESTERN BALKAN COUNTRIES

Tourism is the fastest growing industry that contributes for the production of new jobs, generate huge revenue for the country and become important part of the economic foundation of many countries. Tourism is an industry, with large growth rates and important influence on economic development, but in the past year as the consequences of the global corona virus pandemic suffered major damage. There are different types of tourism, in recent years innovative types of tourism have become current, such as eco, rural, youth, etc. Youth tourism is a new, fast growing sector in the tourism industry. Young travellers can influence the development of the tourism industry and intercultural communications. Youth tourism occurs in different forms and has its own characteristics. This paper focuses on identifying the challenges of tourism in the Western Balkans, with a special focus on the concept of youth tourism, in order to identify the key strategies and motivational factors for youth tourism, experiences and challenges of young people in this sector. For the purposes of this paper, desk and field research was conducted, i.e. the use of electronic questionnaires to identify the characteristics of youth tourism in the Western Balkans. Keywords: Tourism, Tourism strategy, Western Balkan development, Young people, Innovatio