Search

Competition is important for proper functioning of all economic sectors, because it pressures the companies to be more innovative, efficient and effective. With the proper competition, the results show better performance and achievement of the desired outcome. Consequently, well-functioning companies are drivers for economic growth. However, competition in the financial sector is not as easy applicable as in the other economic sectors. High regulations can affect the flexibility and the innovative performance of the financial institutions. Nevertheless, the results of the effect of competition in the financial sector, with an emphasis on the banks, are mixed. Some theories show that competition has positive impact, contrary to some other findings that showed limited effects. In order to have economic success and progress, economic freedom is needed. Hence, in this paper the Business Freedom Index is presented for Albania, Bulgaria, Greece, N. Macedonia and Serbia for 2019-2021. The competitive pressure in the market pressurizes the countries to perform better in the areas that can help them achieve progress.

The relationship between economic development and economic growth has been deeply analyzed, but the interrelationship between capital markets and economic growth has not been researched enough. The lack of research in this field was the driving factor for the analysis in this paper. Existing literature shows that capital market promotes the economic activities and are very beneficial for the investors, especially the institutional investors. Therefore, as dependent variable in this paper was taken the GDP growth, while the independent is the market capitalization. Results show that market capitalization is significant and has positive effect on the economic growth in the European Union. Additionally, the data was obtained from the World Bank database and the period of analysis is from 2006-2020. Considering the positive effect, this creates opportunities for further and deeper research. Nevertheless, institutional investors have shown their positive effect on economic growth, thus, more developed capital markets can be more attractive for them. The more institutional investors invest in the capital markets, the better will be the economic growth of the countries in the European Union.

The Covid-19 pandemic has affected the economy across the globe and generated uncertainties in the functioning of the industries, governments and the daily life of people. The impact that this crisis has on poverty alleviation, the global GDP and the rapid development of the digitalization process are some of the factors that have reshaped the world. Hence, the way in which the companies and different sectors have operated is now in the past. The new economic condition requires quick adaptability to the new trends and fast implementation of digital solutions. Therefore, new strategies and more advanced practices are a necessity not only for the proper functioning of the businesses, but for the governments and the countries as well. The rapid shift towards the digital channels caught many businesses off guard. All these fast changes and the late transformation slowed down the economic growth, mostly in the countries that did not reacted immediately. Considering that the Balkan region tried to provide digitally enhanced offerings and maintain the economic growth during the pandemic, many people were laid off, many business sectors were affected and many companies were closed. All these transformations affected the economic development and stagnated the growth. Therefore, the aim of this paper is to evaluate what are the main factors that have affected the economic growth in the Balkan region and the reason that contributed to digital transformation of these countries.

The Covid- 19 crisis has gripped the world as a whole, with all its subsystems. For some it was and still is a nightmare, for others an unprecedented opportunity. While some industries are getting poorer, other industries are getting richer. This paper covers the analysis of a sector to which this period is not so dark. It is about electronic banking. The need to maintain physical distance has intensified the use of e-banking in some countries even unforeseen. On the other hand, there is still a reluctance to use this way of using banking conditions, sometimes due to aversion to technology, sometimes due to ignorance. This paper is written on the basis of a survey conducted among young people in the city of Stip, Macedonia, for their knowledge of banking and their predictions for electronic banking. A total of 202 people were interviewed and their answers were interpreted based on statistical analysis. The conclusion of this paper should be based on the views of young people on electronic banking and its future. Based on them, a forecast should be given for the future trends of electronic banking in Macedonia’s economic recovery. Methods of analysis, comparisons and statistical calculations were used to show the real picture of the current situation.

The aim of this paper is to provide better understanding of the meaning and the importance of digital marketing. Considering that large organizations are usually of interest when it comes to developing and analyzing marketing theory, this paper focuses on the SMEs. Marketing practices differ between large and small companies, which is the reason why better understanding of marketing practices and marketing planning can help the SMEs in increasing their performance. Hence, small businesses usually lack financial and human resources, which is why digital marketing can help them in better satisfying the needs of the targeted market and to be more efficient than the competitors. Consequently, implementation of the adequate marketing techniques can enhance the success and financial growth of the SMEs. Key words: digital marketing, SME, growth, performance, strategy

Today, modern businesses can not achieve their market presence without having a well-built marketing strategy. The constant revision, supplementation and modification of the strategy are part of the work of the international company. When it comes to information technology, ie the rapid growth and development of this industry requires companies that are part of it to constantly compete with the powerful and widespread competition.Companies like Huawei are in a constant race against time, competition from all over the world and of course most importantly the desires of consumers. In order to achieve good financial results, it is necessary to constantly develop your strategy and invest in marketing tools. Through marketing, the company will be able to reach the consumer, attract him and of course keep him. In that way the profit will increase and the financial results will be in a good direction. Key words: competition; consumers; financial results; profit; strategy

This paper analyzes the habits of media usage by the consumers in the period during the Covid-19 pandemic on one side, and the trends of investment in different media for marketing purposes, on the other. The analysis was conducted through online questionnaires (via Google forms) on a sample of 284 respondents from the generation Z (emerging adults). This paper puts accent on two types of media - television as traditional media and Facebook as social media. The results show that most of the respondents have used both media - TV as well as Facebook for communication with companies, in the last six months in the pandemic. Regarding the relative importance of the media for advertising, the respondents consider social media to be more important media for advertising when compared to TV. Usage characteristics show that 57.4% of emerging adults use TV on daily basis, mostly an hour per day, while 89.9% use Facebook every day, at least two hours per day. On the other side, according to the existing empirical data, during the pandemic, most of the companies have invested more in social vs. traditional media for their marketing activities, thus keeping in line with current market trends. Considering the analysis of consumers’ preferences, this paper can assist the companies in making informed and better marketing investment decisions in the ongoing and future crisis.