Influence of business climate reforms on investments in the Republic of Macedonia
Influence of business climate reforms on investments in the Republic of Macedonia

Summary/Abstract: This paper deals with the business climate reforms in the Republic of Macedonia, from the perspective of the achieved progress and importance of regulatory reforms in investment decisions. The main methods used for elaboration of the paper include methods of analysis and synthesis, based on extensive review and processing of available data, as well as consultation of relevant literature. The paper focuses on the measurement of the business climate by the World Bank “Doing Business Report” comparison of the achievement of Republic of Macedonia and other Western Balkan countries, as well as views of Macedonian firms about different elements of the business climate presented into the Enterprise Survey by the World Bank. In addition, the paper provides data on investment in the Republic of Macedonia and other Western Balkan countries (for comparison purposes), in particular, data on gross fixed investment and FDI, followed by overview of the importance of the regulatory reforms for the actual investment results. The major findings of the paper confirm that regulatory reforms in the Republic of Macedonia have contributed a lot towards improvement of the business climate in the country, but investment decisions have been primarily determined by other factors, which implies the need for the country to tailor the investment policy making process towards overcoming of constraints.

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