MACROECONOMIC STABILITY AND GROWTH DETERMINANTS OF THE REPUBLIC OF NORTH MACEDONIA

IF 1.7 4区经济学 Q3 DEVELOPMENT STUDIES

Economic Development Quarterly Pub Date : 2022-01-01 DOI:10.55302/ed22255052m

Silvana Mojsovska

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Abstract

: This article addresses macroeconomic challenges and growth determinants of the Republic of North Macedonia. The overview of the Macedonian macroeconomic indicators in the period 2016-2021 serves as a basis for identifying the macroeconomics trends, as well as outlining the areas of poli-cy-making where outstanding risk-management would be necessary in the mid/ long term. The research indicate that major macroeconomic policy challenges relate to public debt management, budget deficit and inflation. The external shocks such as COVID-19, rising energy and food prices (as implication of the Russian invasion in Ukraine) have contributed the most to the imbalances. The GDP growth has been largely affected by the global development. In purpose of acceleration of the GDP growth, several issues must be addressed - low productivity; low rate of innovations and technological development; unfavorable structure of the economy: mismatch among the labour market demand and supply, as well as education which does not reflect the needs of the economy. The paper provides recommendations about policy outlook and actions necessary for improvement of the state of affairs in the mentioned areas.

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北马其顿共和国的宏观经济稳定和增长决定因素

本文讨论了北马其顿共和国的宏观经济挑战和增长决定因素。2016-2021年马其顿宏观经济指标概述是确定宏观经济趋势的基础，并概述了中期/长期需要出色风险管理的政策制定领域。研究表明，主要的宏观经济政策挑战涉及公共债务管理、预算赤字和通货膨胀。COVID-19等外部冲击、能源和食品价格上涨(俄罗斯入侵乌克兰的影响)是造成失衡的主要原因。国内生产总值的增长在很大程度上受到全球发展的影响。为了加快国内生产总值的增长，必须解决以下几个问题:生产率低下;创新和技术发展速度低;经济结构不利:劳动力市场供求不匹配，教育不符合经济需求。本文提出了改善上述地区现状的政策展望和必要行动建议。

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来源期刊

Economic Development Quarterly Multiple-

CiteScore

2.20

自引率

13.30%

发文量

期刊介绍： Economic development—jobs, income, and community prosperity—is a continuing challenge to modern society. To meet this challenge, economic developers must use imagination and common sense, coupled with the tools of public and private finance, politics, planning, micro- and macroeconomics, engineering, and real estate. In short, the art of economic development must be supported by the science of research. And only one journal—Economic Development Quarterly: The Journal of American Economic Revitalization (EDQ)—effectively bridges the gap between academics, policy makers, and practitioners and links the various economic development communities.