TY - BOOK ID - 84658071 TI - Former Yugoslav Republic of Macedonia : Selected Issues. PY - 2014 SN - 1498381030 1498315372 1498333451 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - North Macedonia KW - Republic of North Macedonia KW - Republika Severna Makedonija KW - Severna Makedonija KW - Република Северна Македонија KW - Северна Македонија KW - Maqedonia e Veriut KW - Republika e Maqedonisë së Veriut KW - Macedonia (Republic) KW - Economic policy. KW - Economic conditions. KW - Macedonia (Federated Republic, 1945- ) KW - Narodna Republika Makedonija KW - NRM KW - Maqedonia (Republic) KW - N.R.M. KW - Makedonija (Republic) KW - S.R. Makedonija KW - Socijalistička Republika Makedonija KW - SR Makedonija KW - Socialist Republic of Macedonia KW - Maḳedonyah (Republic) KW - Makedonii︠a︡ (Republic) KW - Former Yugoslav Republic of Macedonia KW - F.Y.R.O.M. KW - FYROM KW - Macedonia, Former Yugoslav Republic of KW - Republika Makedonija KW - FYR Macedonia KW - Republic of Macedonia KW - Република Македонија KW - Македонија (Republic) KW - Masèdonia (Republic) KW - Republiek van Masedonië KW - Masedonië (Republic) KW - Republik Mazedonie KW - Republik Makedonie KW - Ehemoligi Jugoslawischi Republik Mazedonie KW - Mazedonie (Republic) KW - Makedonie (Republic) KW - Cynewīse Macedonia KW - جمهورية مقدونيا KW - Jumhūrīyat Maqdūniyā KW - Republica de Macedonia KW - Republica Machedonia KW - Machedonia (Republic) KW - Republica ali Machedonia KW - Republica Ex-Iugoslavã ali Machedonia KW - Rèpublica de Macèdonie KW - Antigua República Yugoslava de Macedonia KW - Ex República Yugoslava de Macedonia KW - Masendoña (Republic) KW - F.Y.R.O. Masendoña KW - Makedoniya (Republic) KW - Makedoniya Respublikası KW - Keçmiş Yuqoslaviya Makedoniya Respublikası KW - Makedonija Kiōng-hô-kok KW - Рэспубліка Македонія KW - Rėspublika Makedonii︠a︡ KW - Македонія (Republic) KW - Republika kan Masedonya KW - Masedonya (Republic) KW - Mazedonien (Republic) KW - Makedonien (Republic) KW - Republik Mazedonien KW - Republik Makedonia KW - Makedonia (Republic) KW - Republik Yougoslaviat Kent Makedonia KW - Република Македония KW - Republika Makedonii︠a︡ KW - Бивша югославска република Македония KW - Bivsha i︠u︡goslavska republika Makedonii︠a︡ KW - Exports and Imports KW - Foreign Exchange KW - Investments: Bonds KW - Macroeconomics KW - Emigration and Immigration KW - Remittances KW - General Financial Markets: General (includes Measurement and Data) KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - International Migration KW - International economics KW - Currency KW - Foreign exchange KW - Investment & securities KW - Migration, immigration & emigration KW - Outward remittances KW - Real exchange rates KW - Bonds KW - Consumption KW - Balance of payments KW - Migration KW - Population and demographics KW - Financial institutions KW - International finance KW - Emigrant remittances KW - Economics KW - Emigration and immigration KW - North Macedonia, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658071 AB - This Selected Issues paper on Former Yugoslav Republic (FYR) of Macedonia investigates the macroeconomic impact of remittances on long-run external sustainability and growth. The paper presents stylized facts pertaining to the characteristics of remittances in Macedonia, highlighting their countercyclicality and importance in sustaining the purchasing power of domestic agents. The paper reviews to help set up a theoretical framework for assessing their macroeconomic impact, highlighting the possible risk of “Dutch disease” developments. The paper uses a Bayesian vector autoregression (BVAR) model to empirically investigate both hypotheses of countercyclicality and Dutch disease effects and puts forward a few policy options that may be explored to better harness remittances to support investment and long-term growth. The paper suggests that strong political engagement in support of diaspora projects is a key point. The mobilization of diaspora savings for private and public investment would maximize the long-term benefits of remittances. ER -