Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)

Ilaz Ameti; Llokman Hebibi; Armend Asllani

doi:doi:10.11648/j.jbed.20220704.12

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Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)

Ilaz Ameti, Llokman Hebibi, Armend Asllani

Published in Journal of Business and Economic Development (Volume 7, Issue 4)

Received: 12 November 2022 Accepted: 5 December 2022 Published: 27 December 2022

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Abstract

Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.

Published in	Journal of Business and Economic Development (Volume 7, Issue 4)
DOI	10.11648/j.jbed.20220704.12
Page(s)	111-116
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Economic Development, Productivity Growth, Competitiveness, World Markets, Quality

References

[1]	Ameti. I, Raimi. N, Vukaj. O (2015) Science and Education Publishing From Scientific Research to Knowledge’’Trading of Agricultural Products between Countries from Balkan Region.
[2]	Ameti I. (2013), SkopjeFaculty for Agricultural Sciences and Food’’,-Skopje’’Organization of the market of agricultural products in the Balkan region.
[3]	Ghirmay, T., Garbowski, R., & Sharma, S. (2001) “Exports, Investment Efficiency and Economic Growth in LDC: an Empirical Investigation”, Applied Economics, 33, 689-700.
[4]	Jonathan E. B. (2014) “Money, Mercantilism and empire in the early English Atlantic (1607-1697)”
[5]	Lee, J. W. (1995) “Capital Goods Import and Long-Run Growth” Development Economics, Vol. 48 (1), pp. 91-110.
[6]	Pettinger, T. “(2017). Importance of exports to the economy.
[7]	Matthias B & Jens K (2012) “Trade and Economic Growth: A Re-examination of the Empirical Evidence”.
[8]	Ameti I., Ahmeti N. International Journal of Science, Technology and Society (2017) DOI:10.11648/J.IJSTS.20170506.12
[9]	Regine A. Ngono F. (2012) “Protectionism and Free Trade: A Country s Glory or Doom?” – International Journal of Trade, Economics and Finance.
[10]	Ram, R. (1987), “Exports and economic growth in developing countries: evidence from timeseries and cross-section data”, Economic Development and Cultural Change, 36, p. 51-72.
[11]	WTO “10 things the WTO can do” - ISBN: 978-92-870-3831-9 or: https://www.wto.org/english/thewto_e/whatis_e/10thi_e/10thi00_
[12]	WTO“Understanding the WTO” – Geneva, Switzerland, Fifth Edition, WTO, 2015.
[13]	Wagner, J. (2007) “Exports and Productivity: A Survey of the Evidence from Firm Level Data”, The World Economy, Vol. 30 (1), pp. 60-82.
[14]	Ameti I. (2022) Analyzed and processed by applying statistical methods for the academic years.
[15]	North Macedonia Real GDP Growth (2001-2022) https://www.ceicdata.com/en/indicator/macedonia/real-gdp-growth

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APA Style

Ilaz Ameti, Llokman Hebibi, Armend Asllani. (2022). Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). Journal of Business and Economic Development, 7(4), 111-116. https://doi.org/10.11648/j.jbed.20220704.12

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ACS Style

Ilaz Ameti; Llokman Hebibi; Armend Asllani. Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). J. Bus. Econ. Dev. 2022, 7(4), 111-116. doi: 10.11648/j.jbed.20220704.12

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AMA Style

Ilaz Ameti, Llokman Hebibi, Armend Asllani. Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). J Bus Econ Dev. 2022;7(4):111-116. doi: 10.11648/j.jbed.20220704.12

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@article{10.11648/j.jbed.20220704.12,
  author = {Ilaz Ameti and Llokman Hebibi and Armend Asllani},
  title = {Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)},
  journal = {Journal of Business and Economic Development},
  volume = {7},
  number = {4},
  pages = {111-116},
  doi = {10.11648/j.jbed.20220704.12},
  url = {https://doi.org/10.11648/j.jbed.20220704.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20220704.12},
  abstract = {Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.},
 year = {2022}
}

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TY  - JOUR
T1  - Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)
AU  - Ilaz Ameti
AU  - Llokman Hebibi
AU  - Armend Asllani
Y1  - 2022/12/27
PY  - 2022
N1  - https://doi.org/10.11648/j.jbed.20220704.12
DO  - 10.11648/j.jbed.20220704.12
T2  - Journal of Business and Economic Development
JF  - Journal of Business and Economic Development
JO  - Journal of Business and Economic Development
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EP  - 116
PB  - Science Publishing Group
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UR  - https://doi.org/10.11648/j.jbed.20220704.12
AB  - Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.
VL  - 7
IS  - 4
ER  -

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Author Information

Ilaz Ameti

Faculty of Business Administration, State University of Tetovo, Kumanova, Republic of North Macedonia
Llokman Hebibi

Faculty of Business Administration, State University of Tetovo, Kumanova, Republic of North Macedonia
Armend Asllani

Faculty of Business Administration, State University of Tetovo, Kumanova, Republic of North Macedonia

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APA Style

Ilaz Ameti, Llokman Hebibi, Armend Asllani. (2022). Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). Journal of Business and Economic Development, 7(4), 111-116. https://doi.org/10.11648/j.jbed.20220704.12

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ACS Style

Ilaz Ameti; Llokman Hebibi; Armend Asllani. Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). J. Bus. Econ. Dev. 2022, 7(4), 111-116. doi: 10.11648/j.jbed.20220704.12

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AMA Style

Ilaz Ameti, Llokman Hebibi, Armend Asllani. Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia). J Bus Econ Dev. 2022;7(4):111-116. doi: 10.11648/j.jbed.20220704.12

Copy | Download

@article{10.11648/j.jbed.20220704.12,
  author = {Ilaz Ameti and Llokman Hebibi and Armend Asllani},
  title = {Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)},
  journal = {Journal of Business and Economic Development},
  volume = {7},
  number = {4},
  pages = {111-116},
  doi = {10.11648/j.jbed.20220704.12},
  url = {https://doi.org/10.11648/j.jbed.20220704.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20220704.12},
  abstract = {Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Some of Macroeconomic Policies as Promoting Factors in Economic Development (Case Study with the Republic of Northern Macedonia)
AU  - Ilaz Ameti
AU  - Llokman Hebibi
AU  - Armend Asllani
Y1  - 2022/12/27
PY  - 2022
N1  - https://doi.org/10.11648/j.jbed.20220704.12
DO  - 10.11648/j.jbed.20220704.12
T2  - Journal of Business and Economic Development
JF  - Journal of Business and Economic Development
JO  - Journal of Business and Economic Development
SP  - 111
EP  - 116
PB  - Science Publishing Group
SN  - 2637-3874
UR  - https://doi.org/10.11648/j.jbed.20220704.12
AB  - Through this study we give a special practical and theoretical contribution to the district in general and especially to the country's institutions, as this study will initially analyze the theoretical aspects and their impact on economic development. In addition, we have tried to analyze the trade aspect for three-year period (2017-2019), identifying the comparative advantages of trade, influencing factors and improving quality as increasing factors of exports and finding a place in world markets. The discrepancies between imports and exports in Northern Macedonia have resulted in a significant negative trade balance due to the weak manufacturing sector, and as a result firms in Northern Macedonia are not yet able to compete internationally with a wide range of products. The determining factor in market entry is the ability to improve and produce according to specific quality requirements, so companies need to improve the quality of their products as soon as possible, which would enable them to compete with the international market and launch new products. Finally, we have given some recommendations on what the Republic of Northern Macedonia should do, most importantly to provide grants, subsidies and other financial assistance to organizations directly to increase their productivity and competitiveness, thus directly affecting trade flows. Republic of Northern Macedonia, ie the policy-making institutions should define the products with development potentials and finance those products in various forms in order to be competitive in the foreign market.
VL  - 7
IS  - 4
ER  -

Copy | Download