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Assessment of a Country’s Regional Economic Development on the Basis of Estimation of a Single Process (ESP) Method

Author

Listed:
  • Romualdas Ginevičius

    (Vilnius Gediminas Technical University)

  • Dainora Gedvilaite

    (Vilnius Gediminas Technical University)

  • Šarunas Bruzge

    (Tallinn University of Technology
    Vilnius Gediminas Technical University)

Abstract

The objective of this article is to demonstrate an option of quantitative assessment of the status of an isolated complex target object. Review of scientific literature, an analysis of statistical data and methods applied in the theory of multiple criteria have been used for the purpose of this research. The calculations have revealed that the proposed methodology is suitable for addressing real tasks. This methodology allowed the identification of unused potential of economic development in each region. The proposed methodology can be applied to determine the current situation of regional economic development of a country. This could help plan the investment for country regional development. Up to now the goal of multi-criteria valuation was to determine the priority of analysed variants. In order to determine the economic development of separate regions during the period in question, a different method of normalisation of values was employed than the one normally used in multi-criteria valuations. The originality of this work lies in the assessment of the status of an isolated process at a given moment of time.

Suggested Citation

  • Romualdas Ginevičius & Dainora Gedvilaite & Šarunas Bruzge, 2015. "Assessment of a Country’s Regional Economic Development on the Basis of Estimation of a Single Process (ESP) Method," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 3(2), pages 141-153.
    • Handle: RePEc:krk:eberjl:v:3:y:2015:i:2:p:141-153
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    File URL: http://eber.uek.krakow.pl/index.php/eber/article/download/86/103
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    References listed on IDEAS

    as
    1. Marija Radosavljevic, 2014. "Assessment of process management maturity in developing countries based on SAW method," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 15(4), pages 599-614, September.
    2. Willem Karel M. Brauers & Romualdas Ginevičius, 2009. "Robustness in regional development studies. The case of Lithuania," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 10(2), pages 121-140, February.
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    Cited by:

    1. Ramona Pîrvu & Roxana Bădîrcea & Alina Manta & Mihaela Lupăncescu, 2018. "The Effects of the Cohesion Policy on the Sustainable Development of the Development Regions in Romania," Sustainability, MDPI, vol. 10(7), pages 1-21, July.

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    More about this item

    Keywords

    multi-criteria valuation; regions; regional development; indicators; assessment; Lithuania;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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