Papers

This paper presents a short and long-run analysis of the economic effects of public debt and budget deficits, whilst connecting unconventional public debt connected issues to the global current economic conditions. Short-term budget deficits are relatively desirable, while the long-term effects of deficit accumulation blend into the effects of public debt accumulation. The long-term economic effects of high public debt levels are crowding out investment, causing unemployment and increased inequality. While some of the mechanisms of dealing with high public debt levels don't have their place in the classical economic literature, they are a part of the anticrisis mechanisms of indebted countries.

The paper was prepared by MSc Martin Stojanovikj and prof. Blagoja Nanevski, PhD, published in the fifth edition of the Journal of Sustainable Development, pg. 20-37.

The paper analyses the process of growth and convergence of the Slovenian economy before and after EMU accession. This small and relatively open economy has long been considered the model economy regarding its’ successful transition management and the accession into the European monetary union. But after the bailout of several peripheral EMU economies, it is the sixth economy that has entered crises and recession. Strict nominal Maastricht criteria have slowed down economic growth and convergence in the process of EMU accession. Euro introduction has worsened Slovenia’s competitive position leading to increased level of debt that brought Slovenia from model EMU economy to one of the peripheral indebted EMU economies that endangers the sustainability of the euro zone itself.

The paper was prepared by Biljana Avramovska, MSc. and published as the fifth edition of the Journal of Sustainable Development.

In this paper, the possibilities and available options for Macedonian small and medium sized enterprises (SMEs) are analyzed. SMEs are a vital part of any economy; therefore their financing is crucial in stimulating economic growth. A research has been made to understand the state of financing alternatives for Macedonian SMEs. In this paper, a detailed explanation is given for any option available. Additionally, recommendations for popular SME-financing sources, not yet available in Macedonia are presented, with the implications of using each of these sources. Research sources in Macedonia on this subject are limited, but this and similar researches will provide foundation for the development of new and more applicable financial solutions for Macedonian SMEs in the future.

The paper was written by Adrijana Bulevska, MSc, and published in the Journal of Sustainable Development, sixth edition.

This paper is analyzing the existing accounting models that incorporate measuring of sustainable development. Encompassing sustainable development in the national profit and loss accounts is a difficult task, but it shows a more efficient and significant measurement of sustainable development, as well as economic development as a part of it. Accounting systems are used in measuring sustainable development lately. The paper stresses the importance of global accounting measurement of sustainable development. Although several systems have already been constructed, such as: of United Nations’ System of National Accounts (SNA), the System of Environmental-Economic Accounting (SEEA) and the National Accounting Matrix with Environmental Accounts (NAMEA), none of them has yet successfully incorporated global sustainability in its account. The paper focuses on the importance of combining these systems, and underlines the problems that may occur in measuring global sustainable development.

The paper was prepared by Adrijana Bulevska, MSc, and published in the Journal of Sustainable Development, fifth edition.

This paper presents a broad analysis of the greening of the Macedonian private sector, with key focus on the industry. The reason for considering mainly the industry is that it has the largest impact on the Macedonian economy, positively or negatively. Green growth is a comprehensive issue with different aspects and only those with most relevance to Macedonia are discussed in this paper.

The paper was prepared by MBA Todor Milchevski and published as the fourth edition of the Journal of Sustainable Development.

This paper was commissioned to provide an analysis of the labour market based on evidence of the structure of employment/unemployment rates, age, education, type of business and activity rates for the population capable of working. Employment policies and labour market institutions are analyzed regarding active and passive policies, and implementation of horizontal principles.

The paper was prepared by MBA Todor Milchevski in collaboration with prof. Vesna Stojanova, PhD and published in the Regional Overview Book by Friedrich Ebert Foundation, entitled “Employment Policies in South-East Europe - Common Challenges and Different Scenarios”, pg. 137-156.

The “Think and Link-Regional Policy Programme 2011/2012” part of the Envisioning Europe Programme Area, supported by the European Fund for the Balkans has awarded a project grant to New Business Education (NBE) Foundation for the implementation of a research project.

The final result of this project was the policy paper entitled “Improving the Regional Development Policies – Sharing the German and Slovenian Experience”. This paper was commissioned to provide an analysis and evaluation of the current institutional setup for regional development in R. Macedonia, by drawing comparisons from the institutional frameworks for regional development in Slovenia and Germany.

The two prominent NBE members, Todor Milchevski, MBA and Ivana Nikiforovska, M.Sc took part in the project “Assessment of the Capacity Building Needs of Relevant Stakeholders Involved in the Regional and Rural Development in Macedonia“ and as a final outcome of the project the following study was published.

The purpose of the project was to assess the gap between knowledge, skills and attitudes that people in the surveyed bodies/organizations currently possess and the knowledge and skills they need to obtain in order to achieve their organization’s objectives. It aimed to set out priorities and propose most appropriate response to those priority needs.

Todor Milchevski, MBA and Martin Stojanovik MSc, won the first place among 150 essays on an essay competition organized by the World Bank and its partners the Green Growth Program. The essay competition has the goal of raising the awareness and spurring the discussion on green issues among the younger generation.

The essay entitled "Financing Municipal Energy Efficiency in Macedonia" depicts the main identified obstacles for financing energy efficiency in municipalities and offers relevant recommendations for overcoming those obstacles.