THE ROLE OF TRADE IN THE INTEGRATION OF THE REPUBLIC OF NORTH MACEDONIA IN THE EMU

Dehari, Gazmend (2021) THE ROLE OF TRADE IN THE INTEGRATION OF THE REPUBLIC OF NORTH MACEDONIA IN THE EMU. International Scientific Journal in Economics, Finance, Business, Marketing, Management and Tourism, 8 (15-16). pp. 99-107. ISSN 2545-4544

Text Economic Vision, Vol.8, No.15_16 FINAL-99-107.pdf Download (814kB)

Abstract

The Economic and Monetary Union is an integration area, the membership to which it can be possible only for countries that have already met the convergence criteria and are already members of the European Union. The analysis of this paper will be focused to determine the impact of the European Monetary Union (EMU) on trade between the euro area and North Macedonia. One objective of this study is to investigate how the EMU countries will help the development of the North Macedonian economy. This paper addresses several economic issues in further examining the quantitative impact of EMU on trade between EMU countries and North Macedonia. Trade effects are examined more closely for the period from 1995 to 2015 using a simple OLS regression with panel data at the individual country level. The gravity model that is used in this paper is based on several explanatory variables that will give a clear picture of the factors that will impact trade, between EMU and North Macedonia, the most. The model has based on the hypothesis that trade has a positive relationship with the gross domestic product and a negative one with the distance between the countries that trade. In total 533 observations are made between North Macedonia and its partners. The data that is applied to the model was collected from the State Statistical Office of the Republic of North Macedonia and the World Bank. The model shows that North Macedonia's trade with the countries that are members of the euro area, for the period from 1995 to 2015, although it is not significant at any level, it is negatively correlated.

Item Type:	Article
Subjects:	Q Science > Q Science (General)
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Unnamed user with email zshi@unite.edu.mk
Date Deposited:	05 Oct 2021 16:58
Last Modified:	05 Oct 2021 16:58
URI:	http://eprints.unite.edu.mk/id/eprint/861

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