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Normative Economics or Improvement of Economic Life at Regional Level in the Czech Republic

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  • Klufova, Renata
  • Friebelova, Jana
  • Faltova Leitmanova, Ivana

Abstract

In the context of improvement of economic life, normative economics has to cope, if it is not only a theoretical construct, with various facts which are brought by the economic reality. Becoming aware of the mutual causality of economic phenomena and processes, the consideration of these facts should first define factually a particular area of interest and then identify formally a direction of its improvement. To reduce regional disparities, the key points are both the selection of disparities identification criterions and the specification of values of these criterions. The paper deals with the area which is nowadays relatively common – regional disparities. The improvement in this sense focuses on the decreasing of differences between particular regions regarding the defined values, respectively levels of partial criterions which serve as a base for identification of regional differences. Data envelopment analysis (DEA) and cluster analysis are used to evaluation of the regions.

Suggested Citation

  • Klufova, Renata & Friebelova, Jana & Faltova Leitmanova, Ivana, . "Normative Economics or Improvement of Economic Life at Regional Level in the Czech Republic," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 2(4), pages 1-14.
    • Handle: RePEc:ags:aolpei:99067
    DOI: 10.22004/ag.econ.99067
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