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  • Milena Kovachevich
    ECONOMIC GROWTH IN THE EUROZONE AND ON THE BALKANS: A COINTEGRATION ANALYSIS
    JEL: C12, C19, F15
    Keywords: economic growth, integration, cointegration analysis
    Summary: The global financial and economic crisis of 2008 and in particular the ensuing debt crisis in the euro area in 2009 affected both the economic growth in the euro area and the economic growth in almost all Central and Eastern European countries, including, although to a lesser degree, the Balkan countries. This lower degree of interdependence between most of the Balkan economies and the Eurozone countries is exactly the reason for this study, which aims to determine whether there is a long-term relationship between the economies of the Balkan countries and the Eurozone in general through a co-integration analysis.
  • Shteryo Nozharov
    HYBRID THREATS AS AN EXOGENOUS ECONOMIC SHOCK
    JEL: H56, F52, E66, P47, C12
    Keywords: hybrid threats, business cycle, economic growth, hybrid wars
    Summary: The aim of this study is to contribute to the theory of exogenous economic shocks and their equivalents in an attempt to explain business cycle fluctuations, which still do not have a clear explanation. To this end the author has developed an econometric model based on a regression analysis. Another objective is to tackle the issue of hybrid threats, which have not yet been subjected to a cross-disciplinary research. These were reviewed in terms of their economic characteristics in order to complement research in the fields of defence and security.