TECHNOLOGICAL IMPACT, FINANCIAL STABILITY AND POLITICAL STABILITY IN THE ECONOMY OF NORTH MACEDONIA
Keywords:
political stability, financial stability, technological progress, investmentsAbstract
The main purpose of this paper is to analyze the technological impact, financial impact and political stability on the economic development of the Republic of Northern Macedonia. Based on the analysis of the study, for the period from 2008 to 2019 we notice that there are positive and negative impacts which we have analyzed. Where, a clear picture was provided on the impact of macroeconomic determinants on economic development. Political and financial stability also represent statistically significant variables which means that they have an impact on economic development. Economic science constantly deals with models of economic development, as well as with the factors that influence the acceleration or slowdown of economic growth. The purpose of this research is to gather as much information as possible about the factors that affect economic development, to clarify their importance and to present the results obtained as an integral part of the research. For the same purpose, to measure the importance between economic determinants and economic development in the Republic of Northern Macedonia.
Technological progress can be a study that contributes to economic development, political and financial stability. For this reason as a hypothesis to analyze we have taken the relationship between technological progress and economic development as well as political and financial stability.
The literature focuses more on the relationship between financial and political stability within economic development, on the other hand the studies that are done establish the concept of technological progress as the basis of economic growth. In this context, this study acknowledges that technological progress is a significant impact on economic growth and takes into account the factors with which this relationship interacts in the context of stability.
International trade, at the core of the concept of globalization, is essential to ensure competitive advantage in global markets and to support core capital investments in developing countries where capital is scarce.
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