• Marija Trpkova- Nestorovska Ss. Cyril and Methodius University in Skopje, Faculty of Economics-Skopje
  • Borce Trenovski Ss. Cyril and Methodius University in Skopje, Faculty of Economics-Skopje
  • Biljana Tashevska Ss. Cyril and Methodius University in Skopje, Faculty of Economics-Skopje
Keywords: electronic banking, profitability, electronic financial services


Demographic transition is defined as shift from high birth and death rates and increasing population to very lowbirth and death rates and decreasing population, as a country progresses from a pre-industrial to an industrializedeconomic system and significant increase in the urbanization. It is consisted of five stages.The analysis provides revised information about the stages of demographic transition for each of the twentyeight EU countries, and also examines whether the transition model is still compatible with the current demographicsituation. The countries are classified in five groups according to their demographic similarity. Panelregression models are used to test the statistical significance of the demographic trends from the demographictransition model. While confirming the demographic transition model or describing the variations from the theory,the analysis should give guidance for further population development and its implications on the economyand the society.Also, there is an insight given on the impact of the migration on demographic transition and European population,since immigrants tend to have a massive impact on population in Europe in the past decades. While somecountries benefit from constant influx of immigrants, others face severe consequences in form of ageing population,fertility decline, weaker economy and labor shortage.


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