Mitreva, Mila and Gogova Samonikov, Marija and Davcev, Ljupco (2022) Competition and competitiveness-drivers for economic growth and better performance of the financial sector. Journal of Economics, 7 (2). pp. 18-27.
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Abstract
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.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Mila Mitreva |
| Date Deposited: | 31 Oct 2022 11:51 |
| Last Modified: | 31 Oct 2022 11:52 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/30371 |
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