As an essential tool proceeding the objective function in the period before the global economic crisis (2008), the focus of central banks and monetary policy has been to provide price stability over the policy interest rate. This led to... more
As an essential tool proceeding the objective function in the period before the global economic crisis (2008), the focus of central banks and monetary policy has been to provide price stability over the policy interest rate. This led to emphasizing the role of the credit channel on monetary policy impact of the economy through the quantity of reserves and return-bank credit to the real sector. The exception to this rule was the policy of double pillar of the ECB, which paid special attention to the amount of credit in the economy. The regulation and supervision that were focused on individual financial institutions and markets as well as measuring their impact on the funding stability, were largely ignored. Given the enthusiasm for financial deregulation, the usage of prudential regulation for counter cyclical purposes was considered improper interference in the functioning of credit markets. Simultaneously, with the positions of sharp political limitations, the power of the impact ...
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It has been scientifically proven that the process of financial market development involves strengthening of the financial system preceded by simple capital accumulation which in turn is closely related to the savings rate. The higher the... more
It has been scientifically proven that the process of financial market development involves strengthening of the financial system preceded by simple capital accumulation which in turn is closely related to the savings rate. The higher the level of financial development, the greater the financial intermediation and the economic growth. Financial development reduces inequality and poverty by super-proportionately accelerating the growth of emerging countries and implying a reduction of inequality in the world. This paper expands the time frame of the analysis in the research conducted in 2012 of a statistical sample of 1250 respondents. Based on new data seven years later and using the previously defined variables on the same size of the statistical sample, this study aims not only to confirm the basic thesis that in the Republic of North Macedonia savings (as the main source of financing domestic banks) are still at a low level, and that the examined variables which are directly prop...
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The International Scientific Conference Ohrid 2014 through scientific articles should contribute to the 100th anniversary from the World War I, through a debate to offer answers to the questions that were current a century ago and to make... more
The International Scientific Conference Ohrid 2014 through scientific articles should contribute to the 100th anniversary from the World War I, through a debate to offer answers to the questions that were current a century ago and to make the intersection of what and how changes are made in this part of Europe. Therefore the Faculty of Security-Skopje determined to organize an International Scientific Conference from the 3rd of June till 5th of June 2014 in Ohrid by the theme Macedonia and the Balkans 100 years from the World War I – Safety and Euro-Atlantic integrations. Thuscontinuing the orientation with organizing international conferences in the field of security so it can contribute to the development of scientific thought and for the decision makers of the regional, national and local level helps using the knowledge and research results for faster, simpler and timely overcome the practical problems that they are facing.This scientific meeting will be attended by over 100 scie...
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Aim. The main scientific aim of this research is the analyses of the soci-economic situation of the people at various socio-economicv groups at the municipality of Stip and some rural areas (R Macedonia), in particular the socio-economic... more
Aim. The main scientific aim of this research is the analyses of the soci-economic situation of the people at various socio-economicv groups at the municipality of Stip and some rural areas (R Macedonia), in particular the socio-economic status and the determination of its influence over the health condition of the population. Of the 680 persons examined 430 or 63.23% were reported to have poor health, while 250 or 36.77% to be healthy. According to the results of a survey on morbidity according to specific causes, the most common are: diseases of the heart and blood vessels, 165 persons or 24.20%, then the respiratory system 60 or 8.80%, the digestive system 37 or 5.50%, mental disorders 35 or 5.10%, etc.. Specific morbidity by age shows that diseases of the heart and blood vessels suffer mostly older age groups of 61-70 years, which is a representation of 193 or 28,39% of the total morbidity. Respiratory diseases commonly occurring in the youngest age group 18-30 years, while dise...
A conceptual multi-agent framework based on a knowledge-based collaborative decision support is proposed in this paper to design hybrid intelligent decision support systems (HIDSS) based on policy settings for the support of intelligent... more
A conceptual multi-agent framework based on a knowledge-based collaborative decision support is proposed in this paper to design hybrid intelligent decision support systems (HIDSS) based on policy settings for the support of intelligent and pro-active decision making activities. An example of HIDSS has been developed to support the design and configuration of small wireless sensor networks (WSN). A WSN prototype is designed in this research to supply real time environmental and context related data and decision knowledge to emergency response applications specifically in the domain of civil defense. Its integration in the HIDSS is essential for the interactive support of all the decision making process phases, and will contribute to enhance the quality and the scope of automated individual and group decision making in emergency preparedness and response applications. This automation is based on the concept of Just In Time Knowledge Management (JITKM) enabled by the use of WSNs. T...
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Globalization of the markets, economic pressures of the surrounding, and development of technology obstruct the world in its dealing with the new forms of fraud, embezzlement and deception. Accounting and audit cannot deal with such... more
Globalization of the markets, economic pressures of the surrounding, and development of technology obstruct the world in its dealing with the new forms of fraud, embezzlement and deception. Accounting and audit cannot deal with such offence. Thus, the need to show a new method of acting and discovering crime, fraud, and all unlawful actions in economy matters appeared. This paper aims to analyze the history and the theoretical conditions for forensic accounting and forensic audit. In this sense, there is no a standardized definition of these terms. Some scientific papers say that the beginnings were in Spain and other that they were in Scotland at the end of the 19th century. If we analyze the phenomenon of the two concepts, we can extract the definition of both terms using historical and logical method. Facing the biggest world frauds such as Enron in the United States or Parmalat as the largest European fraud, we can deduce the need for forensic accounting and auditing. Through th...
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The International Scientific Conference Ohrid 2014 through scientific articles should contribute to the 100th anniversary from the World War I, through a debate to offer answers to the questions that were current a century ago and to make... more
The International Scientific Conference Ohrid 2014 through scientific articles should contribute to the 100th anniversary from the World War I, through a debate to offer answers to the questions that were current a century ago and to make the intersection of what and how changes are made in this part of Europe. Therefore the Faculty of Security-Skopje determined to organize an International Scientific Conference from the 3rd of June till 5th of June 2014 in Ohrid by the theme Macedonia and the Balkans 100 years from the World War I – Safety and Euro-Atlantic integrations. Thuscontinuing the orientation with organizing international conferences in the field of security so it can contribute to the development of scientific thought and for the decision makers of the regional, national and local level helps using the knowledge and research results for faster, simpler and timely overcome the practical problems that they are facing.This scientific meeting will be attended by over 100 scie...
Research Interests:
The main scientific aim of this research is the analyses of the soci-economic situation of the people at various socio-economicv groups at the municipality of Stip and some rural areas (R Macedonia), in particular the socio-economic... more
The main scientific aim of this research is the analyses of the soci-economic situation of the people at various socio-economicv groups at the municipality of Stip and some rural areas (R Macedonia), in particular the socio-economic status and the determination of its influence over the health condition of the population. Of the 680 persons examined 430 or 63.23% were reported to have poor health, while 250 or 36.77% to be healthy. According to the results of a survey on morbidity according to specific causes, the most common are: diseases of the heart and blood vessels, 165 persons or 24.20%, then the respiratory system 60 or 8.80%, the digestive system 37 or 5.50%, mental disorders 35 or 5.10%, etc.. Specific morbidity by age shows that diseases of the heart and blood vessels suffer mostly older age groups of 61-70 years, which is a representation of 193 or 28,39% of the total morbidity. Respiratory diseases commonly occurring in the youngest age group 18-30 years, while diseases ...
This paper considers the key system measures which can prevent financial frauds. Financial frauds prevention is crucial part of organized economical system and it materializes through the structures of controls. System of the structures... more
This paper considers the key system measures which can prevent financial frauds. Financial frauds prevention is crucial part of organized economical system and it materializes through the structures of controls. System of the structures of controls is called “three lines of business security” and its establishing and functioning has significant benefit for the economic system as a whole. All the elements of the structure need to function on their own and mutually in order to achieve business security. Functioning of modern states and economies relate to the gathering of reliable information in respect to the principal of cost efficiency and the functional “three lines of business security” system can contribute to that aim. What is the benefit of the “three lines of business security” model? The most important contribution of the model is that it can provide business security to all the participants in the economy. What is more, it can contribute in drawing of foreign investments, s...
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Corporate crime is a phenomenon that marked the XX century. The first half was marked with two major world economic crises (The Great Depression) and the second with an increasing number of massive corporate scandals.Corporate crime stems... more
Corporate crime is a phenomenon that marked the XX century. The first half was marked with two major world economic crises (The Great Depression) and the second with an increasing number of massive corporate scandals.Corporate crime stems from business activities and although there were financial scandals in previous centuries, corporate crime was in full swing in the last two decades. Modern business has significantly dematerialized and transformed into virtual reality, which on one hand represents a significant breakthrough, but on the other hand it opens a wide space and offers modalities for perpetrating crimes in the field of finance. Nevertheless, regardless of the conditions of modern business, the basic reason for corporate crime derives from human greed, namely, the wish to acquire resources which are limited by nature. What is significant is the fact that this type of fraud is spreading, and as a consequence there has emerged a need to study this concept from the scientifi...
Some of the recent events of crime such as Enron, WorldCom, Parmalat, and Xerox, drew some new questions related to the trustworthiness of the financial reports and financial results of the companies. Financial frauds committed in smaller... more
Some of the recent events of crime such as Enron, WorldCom, Parmalat, and Xerox, drew some new questions related to the trustworthiness of the financial reports and financial results of the companies. Financial frauds committed in smaller companies, as it was shown in the research conducted by the Association of Certified Researchers of Crime, are of a different type, such as false payments, false invoices, forgery of cheques, etc. According to the Report to the Nations on Occupational Fraud and Abuse from 2014, the participants’ estimation of typical organization loses is 5% of the revenues each year to fraud. If applied to the 2013 estimated Gross World Product, this is translated to a potential projected global fraud loss of nearly $3.7 trillion. The median loss caused by the frauds in study was $145,000. Additionally, 22% of the cases involved losses of at least $1 million. The purpose of this paper is to recognize this new direction through its defining, its recognizing in Euro...
Purpose This paper aims to describe and discuss the role of the police in anti-money laundering, with particular reference to the situation in the Republic of Macedonia. Design/methodology/approach A doctrinal approach is used to describe... more
Purpose This paper aims to describe and discuss the role of the police in anti-money laundering, with particular reference to the situation in the Republic of Macedonia. Design/methodology/approach A doctrinal approach is used to describe the role of the police in anti-money laundering policy, as well as to discuss whether the police is the central and main body in the fight against this crime. Deductive and inductive methods are used to analyze the collected data about Macedonian activities, provided by domestic and international organizations and institutions. Government agencies, institutions and bodies with different capacities for identifying and combating money laundering are included. Findings According to global statistics, about $2tn is laundered annually. Money laundering directly affects general economic and social life and the entire development, which shows why the concerns about this phenomenon have been growing worldwide. The most important issue in combating money la...