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A Multicriteria Analysis on Regional Disparity of Economic and Demographic Development in the Republic Of Serbia

Author

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  • Petrović Jelena

    (University of Niš, Faculty of Science and Mathematics, Republic of Serbia)

  • Radukić Snežana

    (University of Niš, Faculty of Economics, Republic of Serbia)

  • Radović Milica

    (University of Union, Faculty of Law and Business Studies “Lazar Vrkatić” Novi Sad, Republic of Serbia)

Abstract

The disparities between the regions are the main obstacle to a balanced and harmonious economic and social development. Increasing regional disparities in the countries in transition has led to the increasing attention paid to multicriteria analysis of regional disparity of economic and social development. The regional development in Republic of Serbia, as a country in transition, after wave of recession faced with additional challenges, such as: increasing the economic gap between regions and increasing regional demographic regression. The purpose of this research is to evaluate the regional disparity of economic development as well as the regional disparity of demographic development in the Republic of Serbia. The aim is to analyze the interdependence between economic and demographic development of the regions. According to the six indicators of economic development and the six indicators of demographic development, this paper makes the analysis by VIKOR and the method of ENTROPY as well as correlation analysis. The results of research indicate that there is a statistically significant relationship between economic and demographic development of regions in the Republic of Serbia. This paper indicates the need for a further research in order to identify the main obstacles that countries face within the process of economic and demographic development.

Suggested Citation

  • Petrović Jelena & Radukić Snežana & Radović Milica, 2020. "A Multicriteria Analysis on Regional Disparity of Economic and Demographic Development in the Republic Of Serbia," Economic Themes, Sciendo, vol. 58(3), pages 327-342, September.
    • Handle: RePEc:vrs:ecothe:v:58:y:2020:i:3:p:327-342:n:3
    DOI: 10.2478/ethemes-2020-0019
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    More about this item

    Keywords

    Multicriteria analysis; VIKOR method; ENTROPY method; demographic development; economic development; regions; Republic of Serbia;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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