The high degree of innovation of a country's economy has a stimulating effect on the growth of its productivity levels, which are vital for the profitability of its companies. In this way, ampler innovation backs the organic growth of companies and outlines their long-term competitiveness, including competitiveness at the macro level. Furthermore, having a higher profit level, companies could pay higher net salaries to their employees. It plainly indicates the connection between the innovative processes in the companies themselves and their employees' income levels. This paper aims to test whether this relationship has a proper stronghold in the business practice of The Western Balkans countries: Bosnia and Herzegovina, Serbia, Montenegro, North Macedonia and Albania. Various benchmarks taken from relevant international reports are used as analysis tools. The obtained results will serve as a starting point for considering and conceiving a future efficient platform of public policies supporting the expansion of innovation and technological capacities of companies in the economies of the countries included in this analysis.
The crisis caused by the coronavirus pandemic has raised the question of the role and possibilities of fiscal policy in mitigating its current effects and accelerating postpandemic recovery. This issue is relevant for all economies without exception, bearing in mind that aid packages to the population and the economy are predominantly based on fiscal stimulus. For this reason, the issue of the efficiency of expansionary fiscal policy has been raised again, taking into account the specific macroeconomic circumstances in which most economies find themselves. Therefore, the subject of this paper is the analysis of the optimal structure of the expansionary fiscal policy, with particular emphasis on the Western Balkans region, in the context of resolving the current macroeconomic consequences of the crisis and the possibility of providing both short and medium-term growth. Based on the analysis of specific macroeconomic circumstances in the countries of the Western Balkans, conclusions were reached as to which fiscal policy instrument can be used to achieve the previously described goals.
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