Comparative regional GDP analysis: case study of Croatia

The focus of this paper is the regional GDP analysis of Croatian Counties. It is a part of an extensive on-going scientific research about Croatian economic challenges within the global recession environment. Although, as EU accession country, Croatia is divided into three NUTS 2 regions, twenty one...

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Bibliographic Details
Published inCentral European journal of operations research Vol. 19; no. 3; pp. 319 - 335
Main Authors Jurun, Elza, Pivac, Snježana
Format Journal Article
LanguageEnglish
Published Berlin/Heidelberg Springer-Verlag 01.09.2011
Springer
Springer Nature B.V
Subjects
Area planning & development
Business and Management
Case studies
Cluster analysis
Clustering
Comparative analysis
Computer simulation
Croatia
Econometrics
Economic development
Economics
EU membership
GDP
Gross Domestic Product
International trade
Mathematical models
Monte Carlo method
Monte Carlo methods
Monte Carlo simulation
Nuts
Operations research
Operations Research/Decision Theory
Original Paper
Parameter estimation
Per capita
Random variables
Regional
Regional development
Regions
Standard deviation
Studies
Transition economies
Croatia
Cluster analysis
Regional development indicators
Multiple regression model
Monte Carlo simulations
Croatian counties
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Summary:The focus of this paper is the regional GDP analysis of Croatian Counties. It is a part of an extensive on-going scientific research about Croatian economic challenges within the global recession environment. Although, as EU accession country, Croatia is divided into three NUTS 2 regions, twenty one Croatian Counties show significant economic and social disproportions. In multiple regression model it is researched to what extent regional GDP per capita depends on a set of regional variables (employment, gross investment, production of more important agricultural products, GVA per person employed, construction works value, exports, imports, foreign tourists arrivals, foreign tourist nights, ecology...). Subsequently parameters are evaluated by Monte Carlo simulations which are used for the first time in comparative regional analysis. Also Croatian Counties are classified using Cluster analysis to make a comparative analysis with official spacing into three NUTS 2 regions which are geographical and political areas rather than real and homogenous socio-economic areas.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
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ISSN:1435-246X
1613-9178
DOI:10.1007/s10100-010-0163-6