inostrani kapital kao faktor razvoja zemalja - Ekonomski fakultet u ...

procedures and 408.8 days, whereas the OECD countries need 22.2 procedures and
351.2 days.
In short, this publication gives us an insight about where was Republic of
Macedonia in year 2006 when compared with a few countries in the region, as well
as with the OECD countries. Republic of Macedonia holds the 92 nd place out of
175 countries when talking about how easy it is to run business. When compared
with the countries in the nearby region, Macedonia is in more unfavorable position,
but if certain indicators regarding some spheres are subjected to analysis, in that
case Macedonia is in a better position; this is something that should not serve as
comfort, but should represent an incentive to improve with respect to all indicators
for running business that will further lead to faster development.
3.3. Recommendations – What Can Be Done
The so far analysis in the case of the Republic of Macedonia indicates that
with an appropriate reform of the existing institutions, as well as by forming new
and efficient institutions there will be made a significant influence on lowering the
transaction costs, on successful contracts’ implementation, clear determination of
property rights, decrease in the level of asymmetric information, which will on its
behalf contribute to achieving higher and stable development rates of Macedonian
economy. There are few more directions for achieving this objective.
Institutions and businesses – Favorable business climate is a basic precondition
for increasing investments in physical and human capital and for
achieving economic prosperity. The role of the government in realization of this
objective is to provide appropriate regulatory framework and to fight against the
negative social capital (corruption). As a draft – proposal measures for improving
the institutions in this field it can be considered the following ones:
• Fast and urgent implementation of reforms in the judicial system,
introduction of permanent monitoring of the judges and measuring their
results;
• Reforms in the public administration and its transformation into a service
intended for the needs of citizens and business;
• Fixing the condition in the Land Registry Office as the first step for
protecting private property;
• Non-political party orientation of the public administration and public
enterprises;
• Strict implementation of laws and coordinated action of investigating
bodies, the prosecutor’s office and judiciary as necessary pre-condition for
fighting against crime;
• Insisting on judicial proceedings of all the reports of the State audit office,
which detected illegal spending of the budget funds;
• Fast pace in implementing the rest of the phases regarding the process of
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