This study investigates the effects of the global financial and economic crisis on Macedonia, with a particular focus on the period between 2008 and 2010. The counterfactual approach is used, according to which various hypothetical scenarios are created in order to simulate the movements of the...

The study explores the corporate sector debt in the Macedonian economy. It starts by a narrative scrutiny of its evolution using micro and macro data, and proceeds with a further analysis of its main components. The simple data inspection provides no evidence that corporate sector in Macedonia...

The 2008-2009 global recession, which originated in developed economies, has rapidly spilled over worldwide, hitting different economies with various intensity. The Macedonian economy was not an exception - the export sector suffered heavily, expectations deteriorated and household consumption...

The aim of this study is to examine the impact of financial crises on the short-term interaction between stock market returns of the Macedonian, Serbian and Croatian equity markets. Daily data sample spans from January 4th 2006 to March 31st 2017and based on detected Zivot-Andrews structural...

Macedonia's economy was not left behind by the global economic crisis as the country's macroeconomic policymakers had hoped! Certainly, an economy open at all and with a high degree of direct dependence on European and global economies in general should not be saved by the crisis in financial...