Indicators of Regional Development Using Differentiation Characteristics
On the example of two directions - "production of goods and services" and "welfare", it is developed a methodology for analyzing the interrelationship between various directions of regional development. The novelty of the results is determined by the fact that the direction i...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
NGO “Economic Laboratory for Transition Research” (ELIT)
2018-08-01
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| Series: | Montenegrin Journal of Economics |
| Subjects: | |
| Online Access: | http://repec.mnje.com/mje/2018/v14-n03/mje_2018_v14-n03-a11.pdf |
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| Summary: | On the example of two directions - "production of goods and services"
and "welfare", it is developed a methodology for analyzing the
interrelationship between various directions of regional development.
The novelty of the results is determined by the fact that the
direction indicators are constructed using a common basis formed
using the characteristics of regional differentiation obtained from
theoretically based models. The index for each direction, constructed
in the basis, is maximally correlated with the index formed for
the corresponding group of indicators. It is shown that for the considered
two directions, the basis ensures higher consistency of the
indices and ranks of the regions than the first principal components
constructed for each group of the indicators separately. The advantage
of the approach is that the indices for different directions
based on the basis allow a general interpretation in terms of the
differentiation characteristics and allow one to assess the change
in the level of socio-economic development of the region when
these characteristics change. The presented results confirm the
significance of the influence of technical efficiency on the indices of
regional development and its significance in the indicator composition
for the direction of "welfare". |
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| ISSN: | 1800-5845 1800-6698 |