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Correlation between Growth Rate and Non Performing Retail Loans in the Republic of Macedonia


  • Sedat Mahmudi

    () (South East European University)


The research paper investigates the correlation between Gross Domestic Product, total declared and paid wages by Macedonian real economy and the level of nonperforming retail loans in the Republic of Macedonia in the period of the last quartile of 2010 till to first quartile of 2012 The examination of the feedback effect broadly confirms the strong correlation between real economy and nominal economy. From the analysis carried out, it was found that the level of NPLS in retail banking is directly attributed by ups and downs within the business cycle. Moreover, the research paper indicates that NPLs in retail loans responds to volatility in real economy, where increase or NPLs is perfectly negatively correlated to economic growth rate. Correlation analysis with SPSS 17.0 was used to administrate this research study.

Suggested Citation

  • Sedat Mahmudi, 2013. "Correlation between Growth Rate and Non Performing Retail Loans in the Republic of Macedonia," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(3), pages 133-138, July.
  • Handle: RePEc:hur:ijaraf:v:3:y:2013:i:3:p:133-138

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    References listed on IDEAS

    1. Francis Aboagye-Otchere & Juliet Agbeibor, 2012. "The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMES): Suitability for small businesses in Ghana," Journal of Financial Reporting and Accounting, Emerald Group Publishing, vol. 10(2), pages 190-214, October.
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