IDEAS home Printed from https://ideas.repec.org/a/ura/ecregj/v1y2017i4p1314-1328.html

Development Of A Financial Framework For The National Plan For Regional Development: The Evidence From Serbia

Author

Listed:
  • Darko Vukovic

    (1. National Research University - Higher School of Economics, Saint Petersburg School of Economics and Management 2. Geographical Institute "Jovan Cvijic" of the Serbian Academy of Sciences and Arts)

  • Dejan Radulovic

    (University Business Academy in Novi Sad, Faculty of Economics and Engineering Management (FIMEK))

  • Milos Markovic

    (University of Paris 1 Pantheon-Sorbonne, Centre d’Economie de la Sorbonne (CES))

  • Dmitry Kochetkov

    (Elsevier BV)

  • Natalya Vlasova

    (Ural State University of Economics)

Abstract

The aim of this paper is to examine the development of a financial framework for assessing the effectiveness of interventions. The research is based on the evidence from Serbia. In terms of methods applied, we used econometric and scenario analysis. We presented — as individual separate items — the issues such as “who†— Government budget (Ministry, specific program, loan, donor, etc.), “how much†— the amount spent, “where†(NUTS 2 region), and on “what†(type of initiative). In our model, each of the interventions applied to one of the regional development priorities is linked and evaluated by its effectiveness observing the performance of the group of indicators associated with each of the priorities. All data obtained from 8 sectors were categorized under 4 priorities, i.e. “People, Place, Productive Capacity, and Institutional Capacity†. Accordingly, we evaluate the effectiveness by observing the performance of a group of indicators related to each of the priorities. Our recommendations for optimizing the distribution structure of regional policies and regions are determined by the analysis of the performance of the group of indicators and their relative rankings per NUTS 2 region. The results are significant for further theoretical and applied research, as well as decision-making in the field of government financial policy. Our results confirmed that calculations of funds for regional development in strategic areas appear to be slightly problematic because, in the past, there was no strategic distribution based on established facts, which could be measured in terms of performance.

Suggested Citation

  • Darko Vukovic & Dejan Radulovic & Milos Markovic & Dmitry Kochetkov & Natalya Vlasova, 2017. "Development Of A Financial Framework For The National Plan For Regional Development: The Evidence From Serbia," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1314-1328.
    • Handle: RePEc:ura:ecregj:v:1:y:2017:i:4:p:1314-1328
    as

    Download full text from publisher

    File URL: http://economyofregion.ru/Data/Issues/ER2017/December_2017/ERDecember2017_1314_1328.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Makkonen, Teemu, 2013. "Government science and technology budgets in times of crisis," Research Policy, Elsevier, vol. 42(3), pages 817-822.
    2. Kanbur, Ravi & Venables, Anthony J. (ed.), 2005. "Spatial Inequality and Development," OUP Catalogue, Oxford University Press, number 9780199278633.
    3. Jian Chu & Xiao-Ping Zheng, 2013. "China's Fiscal Decentralization and Regional Economic Growth," The Japanese Economic Review, Japanese Economic Association, vol. 64(4), pages 537-549, December.
    4. Zhang, Xiaobo, 2006. "Fiscal decentralization and political centralization in China: Implications for growth and inequality," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 713-726, December.
    5. Gordon Macleod & Martin Jones, 2007. "Territorial, Scalar, Networked, Connected: In What Sense a 'Regional World'?," Regional Studies, Taylor & Francis Journals, vol. 41(9), pages 1177-1191.
    6. János Kornai, 2008. "The Great Transformation of Central Eastern Europe: Success and Disappointment," International Economic Association Series, in: János Kornai & László Mátyás & Gérard Roland (ed.), Institutional Change and Economic Behaviour, chapter 1, pages 1-37, Palgrave Macmillan.
    7. Enrico Gualini, 2004. "Regionalization as ‘experimental regionalism’: the rescaling of territorial policy‐making in Germany," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 28(2), pages 329-353, June.
    8. Jin, Hehui & Qian, Yingyi & Weingast, Barry R., 2005. "Regional decentralization and fiscal incentives: Federalism, Chinese style," Journal of Public Economics, Elsevier, vol. 89(9-10), pages 1719-1742, September.
    9. Irina Golova, 2013. "Methodological problems in studies of regional development priorities of innovation," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 145-156.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Milena Nedeljković Knežević & Marko D. Petrović & Slađana Nedeljković & Maja Mijatov & Milan M. Radovanović & Mirjana Gajić & Miroslav Škoda, 2019. "Changes in Traditional Activities of Industrial Area toward Sustainable Tourism Development," Sustainability, MDPI, vol. 11(22), pages 1-16, November.
    2. Andrey A. Zaytsev & Roman S. Blizkyi & Irina I. Rakhmeeva & Nikolay D. Dmitriev, 2021. "Building a Model for Financial Management of Digital Technologies in the Areas of Combinatorial Effects," Economies, MDPI, vol. 9(2), pages 1-15, April.
    3. Darko B. Vukovic & Riad Shams, 2019. "Economy and Ecology: Encounters and Interweaving," Sustainability, MDPI, vol. 12(1), pages 1-5, December.
    4. Jovana Brankov & Ivana Penjišević & Nina B. Ćurčić & Branko Živanović, 2019. "Tourism as a Factor of Regional Development: Community Perceptions and Potential Bank Support in the Kopaonik National Park (Serbia)," Sustainability, MDPI, vol. 11(22), pages 1-22, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yang, Xiaoliang & Barros, Lucy & Matthews, Kent & Meenagh, David, 2024. "The dynamics of redistribution, inequality and growth across China’s regions," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 613-637.
    2. Zhu, Ling & Liu, Shasha & Kong, Dongmin, 2023. "Governments' fiscal stress and firm decentralization," International Review of Financial Analysis, Elsevier, vol. 90(C).
    3. Tang, Peng & Shi, Xiaoping & Gao, Jinlong & Feng, Shuyi & Qu, Futian, 2019. "Demystifying the key for intoxicating land finance in China: An empirical study through the lens of government expenditure," Land Use Policy, Elsevier, vol. 85(C), pages 302-309.
    4. Yu, Jihai & Zhou, Li-An & Zhu, Guozhong, 2016. "Strategic interaction in political competition: Evidence from spatial effects across Chinese cities," Regional Science and Urban Economics, Elsevier, vol. 57(C), pages 23-37.
    5. Mengting Ruan & Xiaolu Zhao, 2022. "Fiscal Pressure, Policy Choices and Regional Economic Disparity: Evidence from a Natural Experiment in China," Sustainability, MDPI, vol. 14(19), pages 1-13, September.
    6. Faguet, Jean-Paul & Shami, Mahvish, 2008. "Fiscal policy and spatial inequality in Latin America and beyond," LSE Research Online Documents on Economics 27162, London School of Economics and Political Science, LSE Library.
    7. Tahir Yousaf, 2025. "Balancing act: Examining the trade‐offs between regional convergence and economic growth in China's province managing county reform," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 33(2), pages 339-368, April.
    8. Mototsugu Fukushige & Yingxin Shi, 2017. "Intergovernmental fiscal relationship in China: a simple model based on the nonsymmetric Nash solution," Asia-Pacific Journal of Regional Science, Springer, vol. 1(2), pages 495-509, October.
    9. Yixin Chen & Bingyang Lyu & Guangrong Ma, 2024. "Revenue sharing, fiscal incentives, and economic growth: Evidence from China," Kyklos, Wiley Blackwell, vol. 77(1), pages 149-183, February.
    10. Jia, Junxue & Guo, Qingwang & Zhang, Jing, 2014. "Fiscal decentralization and local expenditure policy in China," China Economic Review, Elsevier, vol. 28(C), pages 107-122.
    11. Stefan Brehm & Jesper Svensson, 2017. "A fragmented environmental state? Analysing spatial compliance patterns for the case of transparency legislation in China," Asia-Pacific Journal of Regional Science, Springer, vol. 1(2), pages 471-493, October.
    12. Anping Chen & Nicolaas Groenewold, 2017. "An increase in the retirement age in China: the regional economic effects," Applied Economics, Taylor & Francis Journals, vol. 49(7), pages 702-721, February.
    13. Yongzheng Liu & Jorge Martinez-Vazquez & Alfred M. Wu, 2017. "Fiscal decentralization, equalization, and intra-provincial inequality in China," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 24(2), pages 248-281, April.
    14. Wang, Zhiguo & Ma, Liang, 2012. "New Development of Fiscal Decentralization in China," MPRA Paper 36918, University Library of Munich, Germany.
    15. Anping Chen & Nicolaas Groenewold, 2013. "The national and regional effects of fiscal decentralisation in China," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 51(3), pages 731-760, December.
    16. Hu, Yichuan & Li, Chang & Qin, Cong, 2020. "The impact of regional financial depth on outbound cross-border mergers and acquisitions," Journal of International Money and Finance, Elsevier, vol. 104(C).
    17. Fenghua Pan & Fengmei Zhang & Shengjun Zhu & Dariusz Wójcik, 2017. "Developing by borrowing? Inter-jurisdictional competition, land finance and local debt accumulation in China," Urban Studies, Urban Studies Journal Limited, vol. 54(4), pages 897-916, March.
    18. Uchimura, Hiroko & Jütting, Johannes P., 2009. "Fiscal Decentralization, Chinese Style: Good for Health Outcomes?," World Development, Elsevier, vol. 37(12), pages 1926-1934, December.
    19. Longjin Chen & Jian Huang & Jianjun Li, 2017. "Fiscal Decentralization, Satisfaction with Social Services, and Inequality Under the Hukou System," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 132(1), pages 377-394, May.
    20. Li, Lixing, 2011. "The incentive role of creating "cities" in China," China Economic Review, Elsevier, vol. 22(1), pages 172-181, March.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • R50 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ura:ecregj:v:1:y:2017:i:4:p:1314-1328. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Naydenov (email available below). General contact details of provider: http://www.economyofregion.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.