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Former Yugoslav Republic of Macedonia: Selected Issues Paper

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  • International Monetary Fund

Abstract

The Macedonian labor market exhibits a high unemployment rate, yet does not demonstrate obvious and large enough constraints on the demand or supply side. Considerable achievements can be made by maintaining macroeconomic stability, attracting FDI, and closing the educational gaps. The second paper assesses ways in which the Macedonian financial sector could better contribute to growth and real convergence, taking stock of where the sector stands and its recent developments. Streamlining bankruptcy procedures, improving collateral and systematic collection and publication of real estate sales data, and revisiting the interest rate cap may serve to moderately boost credit supply.

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  • International Monetary Fund, 2013. "Former Yugoslav Republic of Macedonia: Selected Issues Paper," IMF Staff Country Reports 2013/179, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/179
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    References listed on IDEAS

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    1. Cottarelli, Carlo & Dell'Ariccia, Giovanni & Vladkova-Hollar, Ivanna, 2005. "Early birds, late risers, and sleeping beauties: Bank credit growth to the private sector in Central and Eastern Europe and in the Balkans," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 83-104, January.
    2. Peter Backé & Balázs Égert, 2006. "Credit Growth in Central and Eastern Europe: New (Over)Shooting Stars?," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 112-139.
    3. Mr. Bas B. Bakker & Mr. Giovanni Dell'Ariccia & Mr. Luc Laeven & Mr. Jerome Vandenbussche & Ms. Deniz O Igan & Mr. Hui Tong, 2012. "Policies for Macrofinancial Stability: How to Deal with Credit Booms," IMF Staff Discussion Notes 2012/006, International Monetary Fund.
    4. International Monetary Fund, 2011. "Macroprudential Policy: What Instruments and How to Use them? Lessons From Country Experiences," IMF Working Papers 2011/238, International Monetary Fund.
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