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Factor Analysis Of Key Indicators Of Rural Development: Serbia Vs Eu-28

Author

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  • Stanislav Zekić
  • Žana Kleut
  • Bojan Matkovski

Abstract

In accordance with the strategic aim of Serbia regarding European Union accession, harmonization with European Union rural development policy is an important issue for the creators of rural policy. Accordingly, the basic aim of this paper is to analyse the rural development level of Serbia in comparison to European Union countries, using multivariate statistical analysis. Factor analysis and cluster analysis are applied to extract three factors of rural development: the relative economic significance of rural areas, the general level of economic and agricultural development, and rural development. The results clearly show that Serbia has a lower level of rural development than European Union countries. Therefore defining adequate actions and mechanisms to achieve the policy aims of Serbian rural development is imperative.

Suggested Citation

  • Stanislav Zekić & Žana Kleut & Bojan Matkovski, 2017. "Factor Analysis Of Key Indicators Of Rural Development: Serbia Vs Eu-28," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 62(214), pages 107-120, June - Se.
    • Handle: RePEc:beo:journl:v:62:y:2017:i:214:p:107-120
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    References listed on IDEAS

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    1. Dominique Cairol & Emilie Coudel & Karlheinz Knickel & Patrick Caron, 2008. "Conclusion: Which perspectives for future research on multifunctionality of agriculture and rural areas?," International Journal of Agricultural Resources, Governance and Ecology, Inderscience Enterprises Ltd, vol. 7(4/5), pages 419-436.
    2. Natalija Bogdanov & David Meredith & Sophia Efstratoglou, 2008. "A Typology Of Rural Areas In Serbia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 53(177), pages 7-29, April - J.
    3. Pierangeli, Fabio & Henke, Roberto & Coronas, M.G., 2008. "Multifunctional agriculture: an analysis of country specialization and regional differentiation," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44244, European Association of Agricultural Economists.
    4. Steven C. Deller & Tsung-Hsiu (Sue) Tsai & David W. Marcouiller & Donald B.K. English, 2001. "The Role of Amenities and Quality of Life In Rural Economic Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 352-365.
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    More about this item

    Keywords

    Rural Development; Factor Analysis; Cluster Analysis; Serbia; EU.;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics

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