Exchange rate of the denar in an export oriented development strategy

Sajnoski, Krste (2012) Exchange rate of the denar in an export oriented development strategy. Journal of sustainable development, Integradet business faculty - Skopje. ISSN 1857-6095

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Abstract

Macedonia, as a small country has a generally accepted determination to develop as an open economy. This is a prerequisite for rational inclusion of the national economy in the international division of labor, ad such an orientation is also a prerequisite for achieving permanent and sustainable development The results of this development, however, suggest that the economy has seen low growth rates and high unemployment, though ever increasing trade deficit and external debt. The reasons for the unsatisfactory results are in inappropriate export oriented development strategy. The adverse effects of the current level of exchange rate and possibly indulging it to fluctuate in the direction of depreciation imposed to stop the fruitless debate about any devaluation of the currency of any further consistent defense of the fixed exchange rate. It is high time the exchange rate of national currency to be addressed as a price that is crucial in the determination of the economic entities for directing the current production and build new capacity for export. It means to find a "balanced exchange rate" within the export-oriented development strategy. Moreover, the burden of price competition does not fall only on the level of the exchange rate but also on a number of measures to encourage the development of certain activities and branches in order to achieve greater export effects.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Krste Sajnoski
Date Deposited: 25 Dec 2012 13:06
Last Modified: 25 Dec 2012 13:06
URI: http://eprints.ugd.edu.mk/id/eprint/4400

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