Kiril Jovanovski

Ss. Cyril and Methodius University in Skopje · Faculty of Economics -Skopje

This book (written in Macedonian) reviews the theoretical and empirical literature on fiscal decentralization, it analyses the process of fiscal decentralization in Macedonia, and provides some empirical evidence on the macroeconomic effects of fiscal decentralization in Central and Eastern Europe.

This paper examines the link between determinants of non-performing loans (NPLs)and their macroeconomic impact in the Czech Republic, using two complementary approaches. First, we explore macroeconomic and bank-specific determinants of NPLs for a panel of 22 banks from the Czech Republic, using annual data for the period 2005-2016.For our analysis,...

Entrepreneurship is an important factor of potential growth and development that will determine the development dynamics of transition countries in the future. Starting from the theory of planned behaviour and the social cognition theory, the paper argues that bonding and bridging cognitive social capital may positively influence entrepreneurial in...

The subject of this paper is the way in which the banking sector in Macedonia contributes to the economic growth by performing five basic functions: savings mobilization, risk diversification, resource allocation, corporate control and easing exchange. The basic purpose of this paper is, through assessment of the relative importance of each of the...

This paper has the goal to evaluate the existence of asymmetry of macroeconomic shocks between the SEE countries. It focuses on the Optimum Currency Area (OCA) theory to determine the readiness of any country to participate in a monetary union. The main goal of the study is to evaluate the OCA criteria for Albania, Bosnia and Herzegovina, Bulgaria,...

The existence of a stable long-run demand for money is important for conducting monetary policy for two main reasons: first, from a more general point of view, stable money demand represents a prerequisite for supplying an adequate quantity of money in accordance with the needs of economic agents (businesses and households); second, more specifical...

The main goal of the paper is to assess the impact of the global financial and economic crisis on Macedonia. Specifically, the paper addresses several mutually related issues: first, the condition of the banking sector; second, the situation in the real economy; third, the current account imbalances and; fourth, the reaction of the policy makers. T...