Elizabeta Tosheva

ABSTRACT ABSTRACT The purpose of this paper is to point out of the ways in which the strategic human resource management (SHRM) can create a sustainable competitive advantage if it achieves two essential goals: organizational flexibility (both resource and coordination flexibility) and fit (both external and internal). In order to do so, we present a framework that provides a theoretical foundation for understanding the strategic role of human resources in organizations through both: fitting important aspects of the HR system to the strategic needs of the firm and building these components to enable flexible response to a variety of strategic requirements. First, the paper will examine the concepts of fit and flexibility and their relationship with one another. An important aspect of the strategic HRM is the concept of fit or integration. Strategic HRM is an asset for linking HRM with strategic business content. HR strategy should be linked to the business strategy (vertical integration), mainly because of their mutual replenishment and support in the definition, in order to serve as a basis in the business planning process. Horizontal integration (linking various HR strategies in a unit) aims to achieve a coherent approach in managing people, where different practices are mutually supportive. Researchers in the area of strategic HRM emphasize that in the current complex and dynamic environment, organizations require flexibility to adapt to the diverse and changing requirements. At a first sight, it may seem that the desire for strategic fit and the need for organizational flexibility are in the conflict. Indeed, although the relationship between fit and flexibility in the context of the strategic HRM is not well understood, there is little understanding as to the definition and value of each of them. Based on this work, we propose a model of strategic HRM, which includes both fit and flexibility components. These assumptions about the model suggest difficulty for its achievement, which actually represents the only way in which firms can achieve competitive advantage. Considering that sustainable competitive advantage results from resources and capabilities that are considered valuable, rare, irreplaceable and difficult to imitate, thus achieving fit is difficult due changes in environment. Especially for firms that operating in unstable competitive environments, developing ability for flexibly achieving fit with constantly changing strategic needs represents a huge strategic asset. Strategic HRM should simultaneously promote fit and flexibility and should represent a constant demand of the ways in which the unique firm's resources should be used at the right time to respond to the changing environment. The achievement of these goals at the same time allows the origination of a dynamic fit, able to create a firm that renews itself, and at the same time, it gives to firm fast response ability to environmental requests. Keywords: strategic HRM, organizational flexibility, external fit, internal fit, sustainable competitive advantage

Science is like a wall that rises above the bricks below. For this reason, I would like to thank the authors of the resources used in this book and all the contributors to the development of the science. The development of technology and its use in all areas of human life cause transformation. This transformation is effective in many areas such as human life, business processes, ways of doing business, distribution channels, social and cultural values, government processes and etc. This transformation brings both advantages and disadvantages so these affect so many areas. The main purpose in the publication of this book is to draw attention to the effects of the irresistible changes of Digital Transformation. In this book, there are 9 chapters that cover the different aspects of Digital Transformation written by authors from different countries. I think the chapters will contribute to science and humanity. With this book, which we have created as a result of a detailed and meticulous study, academics, employees, students and anyone who is interested in digital transformation in the international arena will learn useful information about the changes and the impacts facing the world.

Competition policy in the Western Balkan countries has recently gained in significance, in parallel with the acceleration of their EU accession process. Competition policy played a central role in the development of the EU, its institutions and in particular the EU internal market. Competition legislation aims to prevent distortions of competition that harm the economy and, at the same time, to assure freedom of choice of economic agents. A competition policy adopted by the government should include both: economic policies that enhance competition in local and national markets, and competition law designed to stop anti-competitive business practices. The goal of this paper is to analyse the recent developments in the area of competition policies in Western Balkan countries i.e. Albania, North Macedonia, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo. In the Western Balkan countries, the progress in this policy area has been generally slower than in other areas of government. ...

With almost half of the total population (46.85%) of the population living in rural isolated places, Hungary is one of the top rural EU- member countries. The main goal of this research in the paper is the analysis of the ten-year period starting from 2004 until the beginning of the most recently adopted the Hungarian Rural Development Programme (2014-2020). In order to achieve this goal, the paper presents the main functional EU and Hungarian efforts or decisions that pertain to the process of rural development in the country. The accent is put on testing the relationships by performing correlation analysis of the ten socio-economic variables in these regions. They are rural GDP, population density, medical doctors, hospital beds, students, roads, unemployment, mortality, infant mortality and migrations. The research results of the performed correlation analysis points to different conlusions

Science is like a wall that rises above the bricks below. For this reason, I would like to thank the authors of the resources used in this book and all the contributors to the development of the science. The development of technology and its use in all areas of human life cause transformation. This transformation is effective in many areas such as human life, business processes, ways of doing business, distribution channels, social and cultural values, government processes and etc. This transformation brings both advantages and disadvantages so these affect so many areas. The main purpose in the publication of this book is to draw attention to the effects of the irresistible changes of Digital Transformation. In this book, there are 9 chapters that cover the different aspects of Digital Transformation written by authors from different countries. I think the chapters will contribute to science and humanity. With this book, which we have created as a result of a detailed and meticulous study, academics, employees, students and anyone who is interested in digital transformation in the international arena will learn useful information about the changes and the impacts facing the world.

This paper aims to contribute to the current policy discussion on measures for achieving sustainable growth and the steady convergence of Western Balkan economies. A significant fall in demand and a strengthening of competitive pressures characterize the latest trends on the international markets. Western Balkan countries (WBC), whose economic growth models have been challenged in recent years, are faced with the challenge of more active inclusion in the international integration process, and one of the key factors in this path is the improvement in trade patterns and export competitiveness. The changes of export structure towards higher value added products are a precondition of a growth and export competitiveness. In this context, the ability of adjusting to new market circumstances and the development of economic cooperation are especially important for the achievement of continued growth in production and in exports. The paper attempts to identify factors that can contribute to ...

The production of raspberries is of great importance for the development of the agroindustrial complex. Its products are used for direct consumption or as raw materials in the food industry. The demand for fruit on the world market has increased significantly, especially for small (fine) fruits (cherries, raspberries, currants), frozen and canned fruit. Fruit growing participates with about 3% of the agricultural GDP in Republic of North Macedonia. Rich yield, unlimited sales, high purchase prices and European earnings make growing raspberries a profitable agribusiness. The purpose of the research in this paper is to understand the situation on the world market of raspberries and how that situation affects the market in the Republic of North Macedonia. The aim is to analyze the import and export of raspberries in the world and the world's largest exporters and importers of raspberries are analyzed. All this contributes to the perception of the impact of world raspberry trade on ...

Digital technologies provide opportunities for inclusive and sustainable economic growth in all sectors of the economy and society. The EU countries regarded digitalization as the main driver of competitiveness, economic development and employment growth. The main goal of the development of digital infrastructures is to ensure that all citizens (including socially disadvantaged population groups) regardless of their location or place of living can use digital opportunities without any technical, organizational and financial restrictions or difficulties. Digitalization should be carried out through the economic growth by increasing the efficiency, productivity and competitiveness of the use of digital technologies, which implies the digital transformation of economic sectors, areas of activity, as well as the acquisition of new competitive qualities and properties. In our research, we used a deduction method to determine global trends in the digitalization, an institutional analysis ...

The recent economic and financial crisis caused a severe blow to the fragile Macedonian economy, halting the positive development trends in the last decade. This, has in turn, intensified the future challenges. The paper intends to analyze the impact of global economic crisis on the Macedonian economy focuses mainly on the macroeconomic level, identifying and analyzing fluctuations of major macroeconomic indicators that reflect the development and macroeconomic balances of the economy, such as GDP, the level of employment, inflation, budget deficit, public debt, etc. Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field, has provided a reliable and convincing basis for analysis. The experiences and lessons taken from the global economic crisis should serve as a basis for changing the current economic model with a new one in order the economy of the country to catch a connection with the intense changes that are ex...

The production of raspberries is of great importance for the development of the agro-industrial complex. Its products are used for direct consumption or as raw materials in the food industry. The demand for fruit on the world market has increased significantly, especially for small (fine) fruits (cherries, raspberries, currants), frozen and canned fruit. Fruit growing participates with about 3% of the agricultural GDP in Republic of North Macedonia. Rich yield, unlimited sales, high purchase prices and European earnings make growing raspberries a profitable agribusiness. The purpose of the research in this paper is to understand the situation on the world market of raspberries and how that situation affects the market in the Republic of North Macedonia. The aim is to analyze the import and export of raspberries in the world and the world's largest exporters and importers of raspberries are analyzed. All this contributes to the perception of the impact of world raspberry trade on...

This paper aims to contribute to the current policy discussion on measures for achieving sustainable growth and the steady convergence of Western Balkan economies. A significant fall in demand and a strengthening of competitive pressures characterize the latest trends on the international markets. Western Balkan countries (WBC), whose economic growth models have been challenged in recent years, are faced with the challenge of more active inclusion in the international integration process, and one of the key factors in this path is the improvement in trade patterns and export competitiveness. The changes of export structure towards higher value added products are a precondition of a growth and export competitiveness. In this context, the ability of adjusting to new market circumstances and the development of economic cooperation are especially important for the achievement of continued growth in production and in exports. The paper attempts to identify factors that can contribute to ...

Dijital teknolojiler, ekonominin ve toplumun tum sektorlerinde kapsayici ve surdurulebilir ekonomik buyume icin firsatlar sunmaktadir. AB ulkeleri dijitallesmeyi rekabet edebilirligin, ekonomik kalkinmanin ve istihdam artisinin ana itici gucu olarak gordu. Dijital altyapilarin gelistirilmesinin temel amaci, tum vatandaslarin (sosyal olarak dezavantajli nufus gruplari dahil), bulunduklari veya yasadiklara yere bakilmaksizin, dijital firsatlari herhangi bir teknik, orgutsel ve finansal kisitlama veya zorluk olmadan kullanabilmelerini saglamaktir. Dijitallesme, ekonomik sektorlerin, faaliyet alanlarinin dijital donusumunun yani sira yeni rekabet nitelikleri ve ozelliklerinin kazanilmasi anlamina gelen dijital teknolojilerin kullaniminin verimliligini, uretkenligini ve rekabet gucunu artirarak ekonomik buyume yoluyla gerceklestirilmelidir. Arastirmamizda dijitallesmedeki kuresel egilimleri belirlemek icin bir kesinti yontemi, ilgili kurumlardaki somut ornekler ve kanitlar araciligiyla k...

The global economic crisis in the past five years has underlined the need for all countries to fundamentally review and strengthen their economic governance. Perhaps no other region in Europe is experiencing greater economic shocks than the Western Balkans, which continues to battle a decline in economic output and an increase in unemployment. In this article, we assess the macroeconomic outlook for the Western Balkan region, including Croatia, Serbia, Albania, Kosovo, Bosnia-Herzegovina, Macedonia, and Montenegro in the years 20122013. We use macroeconomic variables that compose economic macro-stabilization hexagon – the real growth rate of gross domestic product, the rate of inflation, the rate of unemployment, the public conventional deficit over GDP, the public debt over GDP, the current account deficit over GDP. Secondary analysis of previous quantitative data and published studies, combined with our own qualitative study in the field, has provided a reliable and convincing bas...

In this paper will be elaborated theoretical principles and management implications in creating sustainable competitive advantage and models for connecting human resources management practices with the competitive strategies. We expand the traditional idea that human resource management (HRM) encompasses not only functional and operational approach, but also the vertical link with the strategic management process in the organization, a horizontal link among the various HR functional practices and an external link with the other organizational and environmental factors. Based on a systematic review of literature below we are explaining the four different approaches through which strategic human resources management is reviewed: the universalistic approach, the contingency approach, contextual and configurational approach. Keywords: sustainable competitive advantage, strategy, human resource management, conceptual models

In this paper will be elaborated theoretical principles and management implications in creating sustainable competitive advantage and models for connecting human resources management practices with the competitive strategies. We expand the traditional idea that human resource management (HRM) encompasses not only functional and operational approach, but also the vertical link with the strategic management process in the organization, a horizontal link among the various HR functional practices and an external link with the other organizational and environmental factors. Based on a systematic review of literature below we are explaining the four different approaches through which strategic human resources management is reviewed: the universalistic approach, the contingency approach, contextual and configurational approach. Keywords: sustainable competitive advantage, strategy, human resource management, conceptual models

ABSTRACT The purpose of this paper is to point out of the ways in which the strategic human resource management (SHRM) can create a sustainable competitive advantage if it achieves two essential goals: organizational flexibility (both resource and coordination flexibility) and fit (both external and internal). In order to do so, we present a framework that provides a theoretical foundation for understanding the strategic role of human resources in organizations through both: fitting important aspects of the HR system to the strategic needs of the firm and building these components to enable flexible response to a variety of strategic requirements. First, the paper will examine the concepts of fit and flexibility and their relationship with one another. An important aspect of the strategic HRM is the concept of fit or integration. Strategic HRM is an asset for linking HRM with strategic business content. HR strategy should be linked to the business strategy (vertical integration), ma...

In a globalizing economy, maintaining and enhancing external competitiveness has become of increasing concern to countries around the world. This applies in particular to Western Balkans countries (WBC), whose small economies have to rely mainly on export-led growth and which have reported large current account deficits and widening trade deficits over the past decade. This paper aims to point out of the directions for achieving external competitiveness of WBC. Starting from the assumption that a strong export performance is a sign of a country’s competitiveness in the long run, we have considered a broad list of indicators, such as those related to structural trade indicators, price and cost competitiveness, the sold of the current accounts, productivity, foreign direct investment, as well as institutional factors. Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field has provided a reliable and convincing basis ...

Abstract: The notion of knowledge-based competition has caused significant attention in recent years, with researchers focusing on how firms create, transfer and leverage knowledge for competitive advantage. Although there are many reasons for the success of companies competing on knowledge, human capital is at least in part a foundation for core competencies and underlying source of competitive success. The challenge that multinational companies face is: there are important distinctions between managing traditional work and managing knowledge work. Identifying these differences and understanding how to manage them is crucial for building global competitive capability. Given that people are critical to the successful movement of organizations from domestic business outlooks towards global strategic orientations, one naturally wonders how well human resource executives are prepared to meet this challenge. In this paper, we try to indentify the major challenges the human resource func...

The purpose of this paper is to elaborate that with effective management of the innovative organizations, i.e. those who are able to use innovation to improve their processes or to distinguish their products and/or services, can improve their competitiveness expressed in terms of market share, profitability and growth. Organizational changes are a necessity for any organization because of the need for adjustment to the dynamic external environment. Creative and innovative managers with the resources available in the organization and beyond have the opportunity to develop new products/services and processes, resulting with the development and profitability of the organization. The new environment requires from companies to act differently in order to survive and prosper, so they have been forced to search for new sources of competitive advantage and to enter into new forms of competition. This research concerns the important issues related to the competitiveness of organizations, giv...

TRANSFORMING GLOBAL PRESENCE INTO GLOBAL COMPETITIVE ADVANTAGE ABSTRACT Complexity and challenges arise for global firms that need to operate in different countries and understand their external environmental components, for example, national culture, laws and regulations, competition and political conditions. Therefore, global firms have major implications for their starategic management, both from viewpoint of requiring firms to align management policies and practices with the unique internal requirements of multinational companies (MNC) and from the viewpoint of requiring firms to align their policies and practices with the unique demand of the multiple country environments in which they operate. Multinational companies need to identify five critical issues if they desire to exploit their global presence in order to gain global competitive advantage: adapting to local market differences; exploiting the economies of global scale; exploiting the economies of global scope; tapping o...

ABSTRACT The purpose of this paper is to identify patterns of strategic human resource management (SHRM) practices, that would lead to sustainable competitive advantage by implementing configurational approach and following the existing trends in the field of strategic human resources management. Specifically, coherent and internally connected systems of strategic human resources management practices form powerful connections that create positive synergistic effects on organizational performance, while inconsistent human resources management practices form combinations that create a negative synergistic effects that negatively affect organizational effectiveness. From this point of view, to improve organizational competitive performance on one small economy as Macedonian, it is necessary to define and convey highly focused strategies, politics and practices for human resources management. According to the concept of internal fit, skill development, job enrichment and stimulating com...

Abstract: In global environment of rapid market changes, quick development and dissemination of technology, multiplication of competitors and obsolescence of the products, successful organizations became only those who constantly create new knowledge, disseminate it across the entire organization and quickly incorporate into new products and services. These organizations have realized that learning, i.e. new knowledge, education and development of employees has become crucial for future success of the firm. In this context, the theory of organizational learning examines how individual and team learning can be converted into organizational strategic resource and related to the management of knowledge. The purpose of this paper is to point out development of the resource capability of the organization as result of an organizational learning. This, in turn corresponds with one of the basic principles of strategic management of human resources, which shows the importance of the necessit...

In the 21st century environment, companies must remain competitive in the complex and challenging context that is been transformed under the influence of many factors, from globalization, technological progress and increasingly rapid diffusion of a new technology, to the development and use of knowledge. This new environment requires from companies to act differently in order to survive and prosper. Specifically, they need to seek new sources of competitive advantage and to enter into new forms of competition. That in turn requires a clear understanding of competitiveness and competitive dynamics, approaches to competitive advantage and the role of human resources in creating sustainable competitive advantage. Studies on the contribution of human resources (people) to organizational competitiveness placed a number of questions: What is the effect of human resource management practices in firms human resources development? Which human resources management practices lead to sustainabl...

ABSTRACT The purpose of this paper is to point out of the ways in which the strategic human resource management (SHRM) can create a sustainable competitive advantage if it achieves two essential goals: organizational flexibility (both resource and coordination flexibility) and fit (both external and internal). In order to do so, we present a framework that provides a theoretical foundation for understanding the strategic role of human resources in organizations through both: fitting important aspects of the HR system to the strategic needs of the firm and building these components to enable flexible response to a variety of strategic requirements. First, the paper will examine the concepts of fit and flexibility and their relationship with one another. An important aspect of the strategic HRM is the concept of fit or integration. Strategic HRM is an asset for linking HRM with strategic business content. HR strategy should be linked to the business strategy (vertical integration), ma...

In a globalizing economy, maintaining and enhancing external competitiveness has become of increasing concern to countries around the world. This applies in particular to Western Balkans countries (WBC), whose small economies have to rely mainly on export-led growth and which have reported large current account deficits and widening trade deficits over the past decade. This paper aims to point out of the directions for achieving external competitiveness of WBC. Starting from the assumption that a strong export performance is a sign of a country’s competitiveness in the long run, we have considered a broad list of indicators, such as those related to structural trade indicators, price and cost competitiveness, the sold of the current accounts, productivity, foreign direct investment, as well as institutional factors. Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field has provided a reliable and convincing basis ...

Abstract: The notion of knowledge-based competition has caused significant attention in recent years, with researchers focusing on how firms create, transfer and leverage knowledge for competitive advantage. Although there are many reasons for the success of companies competing on knowledge, human capital is at least in part a foundation for core competencies and underlying source of competitive success. The challenge that multinational companies face is: there are important distinctions between managing traditional work and managing knowledge work. Identifying these differences and understanding how to manage them is crucial for building global competitive capability. Given that people are critical to the successful movement of organizations from domestic business outlooks towards global strategic orientations, one naturally wonders how well human resource executives are prepared to meet this challenge. In this paper, we try to indentify the major challenges the human resource func...

The purpose of this paper is to elaborate that with effective management of the innovative organizations, i.e. those who are able to use innovation to improve their processes or to distinguish their products and/or services, can improve their competitiveness expressed in terms of market share, profitability and growth. Organizational changes are a necessity for any organization because of the need for adjustment to the dynamic external environment. Creative and innovative managers with the resources available in the organization and beyond have the opportunity to develop new products/services and processes, resulting with the development and profitability of the organization. The new environment requires from companies to act differently in order to survive and prosper, so they have been forced to search for new sources of competitive advantage and to enter into new forms of competition. This research concerns the important issues related to the competitiveness of organizations, giv...

TRANSFORMING GLOBAL PRESENCE INTO GLOBAL COMPETITIVE ADVANTAGE ABSTRACT Complexity and challenges arise for global firms that need to operate in different countries and understand their external environmental components, for example, national culture, laws and regulations, competition and political conditions. Therefore, global firms have major implications for their starategic management, both from viewpoint of requiring firms to align management policies and practices with the unique internal requirements of multinational companies (MNC) and from the viewpoint of requiring firms to align their policies and practices with the unique demand of the multiple country environments in which they operate. Multinational companies need to identify five critical issues if they desire to exploit their global presence in order to gain global competitive advantage: adapting to local market differences; exploiting the economies of global scale; exploiting the economies of global scope; tapping o...

ABSTRACT The purpose of this paper is to identify patterns of strategic human resource management (SHRM) practices, that would lead to sustainable competitive advantage by implementing configurational approach and following the existing trends in the field of strategic human resources management. Specifically, coherent and internally connected systems of strategic human resources management practices form powerful connections that create positive synergistic effects on organizational performance, while inconsistent human resources management practices form combinations that create a negative synergistic effects that negatively affect organizational effectiveness. From this point of view, to improve organizational competitive performance on one small economy as Macedonian, it is necessary to define and convey highly focused strategies, politics and practices for human resources management. According to the concept of internal fit, skill development, job enrichment and stimulating com...

Abstract: In global environment of rapid market changes, quick development and dissemination of technology, multiplication of competitors and obsolescence of the products, successful organizations became only those who constantly create new knowledge, disseminate it across the entire organization and quickly incorporate into new products and services. These organizations have realized that learning, i.e. new knowledge, education and development of employees has become crucial for future success of the firm. In this context, the theory of organizational learning examines how individual and team learning can be converted into organizational strategic resource and related to the management of knowledge. The purpose of this paper is to point out development of the resource capability of the organization as result of an organizational learning. This, in turn corresponds with one of the basic principles of strategic management of human resources, which shows the importance of the necessit...

In the 21st century environment, companies must remain competitive in the complex and challenging context that is been transformed under the influence of many factors, from globalization, technological progress and increasingly rapid diffusion of a new technology, to the development and use of knowledge. This new environment requires from companies to act differently in order to survive and prosper. Specifically, they need to seek new sources of competitive advantage and to enter into new forms of competition. That in turn requires a clear understanding of competitiveness and competitive dynamics, approaches to competitive advantage and the role of human resources in creating sustainable competitive advantage. Studies on the contribution of human resources (people) to organizational competitiveness placed a number of questions: What is the effect of human resource management practices in firms human resources development? Which human resources management practices lead to sustainabl...

This research study provides a synthesis analysis of the social economy ecosystem in two regions: the Visegrad region (V4) and the Western Balkan countries (WB6). It includes an assessment of the state of play of the social economy (SE) in the countries, including an assessment of its nature, size, and key sectors, as well as an overview and analysis of the regulatory framework, the institutional support, the financing options and the available support structures and networks.
The main aim of the research is to give a broader insight into the current situation and ecosystem development in V4 region and WB6 region. The study is quite unique connecting the two regions, showing their limits, obstacles and challenges in relation to social economy as well as in the same time referring to potentials of cooperation, development and further effectively of funding options on the European, regional and national level. The research was performed in the times of COVID-19 pandemics, when collecting the data via interviews with stakeholders and young entrepreneurs was limited to online questionnaires form. The questionnaires served to analyze the potentials for economic and social development from the perspective of stakeholders and beneficiaries, as well as to better estimation of human capital development and talent acquisition of youth in the two regions.
Policy recommendations formulated at the end of the paper mostly refer to strengthening the support, developing and implementing initiatives related to social economy development, and measures for sharing knowledge, resources and joint action to develop the social economy in the countries involved in the study. Putting in place an enabling environment for social enterprises is critical if they are to fulfil their potential in contributing not only to creation of jobs, but also to addressing wider social and economic needs, and to promoting more cohesive and inclusive societies.
This policy research is part of the Visegrad Fund Project: Towards Social Economy: Young Social Innovators as Forerunners of Positive Change in V4 and WB6, led by the Association for education Mladiinfo International from North Macedonia in partnership with ten civil society organizations from the Visegrad and the Western Balkans region: Pontis Foundation (Slovakia), Mladiinfo Slovakia (Slovakia), Central Europe Association (Hungary), Czech Youth Association (Czech Republic), Association Institute of New Technologies (Poland),  Ana and Vlade Divac Foundation (Serbia), Social Innovation Incubator MUNJA (Bosnia and Herzegovina), Mladiinfo Montenegro (Montenegro), Beyond Barriers Association (Albania), and Balkan Green Foundation (Kosovo). 
Key words: social economy, Visegrad countries (V4), Western Balkan countries (WB6), social enterprise, entrepreneurship, COVID-19 pandemics, youth, funding, job creation, social inclusion, policy recommendations

The countries of South East Europe (SEE) have made considerable progress in their integration into the European and global economy, as well as in strengthening their mutual regional ties. Since the economic crisis of 2008, the Central European Free Trade Agreement (CEFTA) has become instrumental in securing open and accessible regional markets. While there has been good progress in establishing a web of regional cooperation structures over the last years, more efforts are needed. The purpose of this paper is to propose Integrated Growth Model of these countries aimed to promote regional trade and investment linkages and policies that are non-discriminatory, transparent, predictable and will enhance the flow of goods, investment, services and people within the region. This will contribute to the further integration of the region into the European and global economy through enhanced participation in international supply chains, grounded on improved international competitiveness backed by deepened regional trade and new investments. Coordinated regional effort and consequent national implementation are prerequisites to give the expected boost to intraregional trade while increasing attractiveness for investment in the region.

Competition policy in the Western Balkan countries has recently gained in significance, in parallel with the acceleration of their EU accession process. Competition policy played a central role in the development of the EU, its institutions and in particular the EU internal market. Competition legislation aims to prevent distortions of competition that harm the economy and, at the same time, to assure freedom of choice of economic agents. A competition policy adopted by the government should include both: economic policies that enhance competition in local and national markets, and competition law designed to stop anti-competitive business practices. The goal of this paper is to analyse the recent developments in the area of competition policies in Western Balkan countries i.e. Albania, North Macedonia, Bosnia and Herzegovina, Serbia, Montenegro and Kosovo. In the Western Balkan countries, the progress in this policy area has been generally slower than in other areas of government. This can be explained partly by the complex environment in which competition policies and regulators are set up in any country. However, there could be also some other features at play, which are characteristic of the transition countries. In addition, in the last 20 years there were great efforts by the national governments to fully adhere with the EU competition policy principles and regulations.

Keywords: competition policy, Western Balkan countries, economic policies, competition law

This paper aims to contribute to the current policy discussion on measures for achieving sustainable growth and the steady convergence of Western Balkan economies. A significant fall in demand and a strengthening of competitive pressures characterize the latest trends on the international markets. Western Balkan countries (WBC), whose economic growth models have been challenged in recent years, are faced with the challenge of more active inclusion in the international integration process, and one of the key factors in this path is the improvement in trade patterns and export competitiveness. The changes of export structure towards higher value added products are a precondition of a growth and export competitiveness. In this context, the ability of adjusting to new market circumstances and the development of economic cooperation are especially important for the achievement of continued growth in production and in exports. The paper attempts to identify factors that can contribute to these results, such as export performance, level of opening of the economies of these countries, foreign direct investment, domestic prices and costs and institutional and structural indicators. We conclude by summarizing measures and instruments for achieving export-driven economic development and by formulating policy recommendations such as: intensifying trade, greater focus on exports, focusing on FDI attraction policy, institution building and improvement of the overall business environment.

The recent economic and financial crisis caused a severe blow to the fragile Macedonian economy, halting the positive development trends in the last decade. This, has in turn, intensified the future challenges. The paper intends to analyze the impact of global economic crisis on the Macedonian economy focuses mainly on the macroeconomic level, identifying and analyzing fluctuations of major macroeconomic indicators that reflect the development and macroeconomic balances of the economy, such as GDP, the level of employment, inflation, budget deficit, public debt, etc. Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field, has provided a reliable and convincing basis for analysis. The experiences and lessons taken from the global economic crisis should serve as a basis for changing the current economic model with a new one in order the economy of the country to catch a connection with the intense changes that are expected to occur in the coming period. It is expected that creating new economic model in Republic of Macedonia will result in multiple positive effects that primarily manifested in the increasing number of newly small and medium enterprises, domestic investments, industrial production, GDP, number of new employees and total exports as well as in reduction of the trade deficit in maintaining macroeconomic stability of the country.

The aim of this paper is to provide analysis of the current conditions in women's entrepreneurship development in the Republic of Macedonia in order to explore challenges and opportunities for its development, as well as motivations and obstacles for Macedonian women entrepreneurs. In order to gain a better picture of current motives, problems, and perspectives of Macedonian women in entrepreneurship, a survey was conducted during the period of December 2017-March 2018. Focus group discussion with women entrepreneurs also was used as data gathering instrument. In concluding observations, we offer policy recommendations to the Government and relevant stakeholders to increase women entrepreneurship through various schemes, incentives, and promotional measures. Finances, lack of information, and knowledge of how to run and manage a business as well as the challenge to balance the work and family engagements are the main problems facing women entrepreneurs in the Republic of Macedonia. Other constraints include socio-cultural barriers; barriers relating to networks of information and assistance, and access to finance and investment funds.

With almost half of the total population (46.85%) of the population living in rural isolated places, Hungary is one of the top rural EU-member countries. The main goal of this research in the paper is the analysis of the ten-year period starting from 2004 until the beginning of the most recently adopted the Hungarian Rural Development Programme (2014-2020). In order to achieve this goal, the paper presents the main functional EU and Hungarian efforts or decisions that pertain to the process of rural development in the country. The accent is put on testing the relationships by performing correlation analysis of the ten socioeconomic variables in these regions. They are rural GDP, population density, medical doctors, hospital beds, students, roads, unemployment, mortality, infant mortality and migrations. The research results of the performed correlation analysis points to different conlusions. While some of the relationships in the matrix are statistically significant (either positively or negatively related with different strength), others are not statistically significant. The results point to many important conclusions about the Hungarian rural development from 2004 until 2014. Besides the great efforts implemented by the EU official authorities and Hungarian rural development networks, the negative trends are still present in rural communities across Hungary. Consequently, the present and future success of the most recent Hungarian Rural Development Programme (2014-2020) is very challenging and depends on many variables in the present world of worldwide integration and globalization.

In a globalising economy, maintaining and enhancing external competitiveness has become of increasing concern to countries around the world. This applies in particular to Western Balkans countries (WBC), whose small economies have to rely mainly on export-led growth and which have reported large current account deficits and widening trade deficits over the past decade. This paper aims to point out of the directions for achieving external competitiveness of WBC. Starting from the assumption that a strong export performance is a sign of a country’s competitiveness in the long run, we have considered a broad list of indicators, such as those related to structural trade indicators, price and cost competitiveness, the sold of the current accounts, productivity, foreign direct investment, as well as institutional factors.
Secondary analysis of previous quantitative data and published studies, combined with an own qualitative study in the field has provided a reliable and convincing basis for analysis.

Keywords: Western Balkans countries, external competitiveness, export performances, foreign direct investment