FACTOR ANALYSIS OF KEY INDICATORS OF RURAL DEVELOPMENT: SERBIA VS EU-28

Stanislav Zekić, Žana Kleut and Bojan Matkovski

Economic Annals, 2017, vol. 62, issue 214, 107 - 120

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.

Keywords: Rural Development; Factor Analysis; Cluster Analysis; Serbia; EU. (search for similar items in EconPapers)
JEL-codes: C38 P25 R11 R12 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ekof.bg.ac.rs/wp-content/uploads/2014/04/04.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:beo:journl:v:62:y:2017:i:214:p:107-120

Ordering information: This journal article can be ordered from
http://ea.ekof.bg.ac.rs/

Access Statistics for this article

Economic Annals is currently edited by Will Bartlett

More articles in Economic Annals from Faculty of Economics and Business, University of Belgrade Contact information at EDIRC.
Bibliographic data for series maintained by Goran Petrić ().