Anti-Hail Protection—Assessment of Financial Effects on the Territory of Belgrade

Gordana Vukelić, Olga Cvetković, Ivan Gržetić, Miloš Simić, Zoran Miodragović, Lazar Lazić, Miroljub Zarić, Aleksandar Pešić and Predrag Vulić
Additional contact information
Gordana Vukelić: Belgrade Banking Academy, Faculty of banking, insurance and finance, University Union Belgrade, Zmaj Jovina 12, 11000 Belgrade, Serbia
Olga Cvetković: Center of Chemistry, Scientific Institution Institute of Chemistry, Technology and Metallurgy, University of Belgrade, Studentski Trg 14-16, 11000 Gordana Vukelić Belgrade, Serbia
Ivan Gržetić: Faculty of Chemistry, University of Belgrade, Studentski Trg 14-16, 11000 Belgrade, Serbia
Miloš Simić: Center of New Technologies, Bojanska 26, 11000 Belgrade, Serbia
Zoran Miodragović: Center of New Technologies, Bojanska 26, 11000 Belgrade, Serbia
Lazar Lazić: Faculty of Physics, University of Belgrade, Dobračina 16, P.O. Box 44, 11001 Belgrade, Serbia
Miroljub Zarić: Republic Hydrometeorological Service of Serbia, Kneza Višeslava 66, 11000 Belgrade, Serbia
Aleksandar Pešić: Republic Hydrometeorological Service of Serbia, Kneza Višeslava 66, 11000 Belgrade, Serbia
Predrag Vulić: Faculty of Mining and Geology, University of Belgrade, Đušina 7, 11000 Belgrade, Serbia

Sustainability, 2018, vol. 10, issue 4, 1-7

Abstract: The aim of this work is to assess damage to the City of Belgrade caused by the unfavorable weather condition of hail due to the absence of anti-hail defense of the city, and to argumentatively point out the necessity of introducing new technical-technological systems for preventing the effects of adverse weather conditions. The results are based on the direct correlation-analyses of two real unfavorable weather events and the estimated financial damage caused by these events. The overall calculation also takes into account financial investments (new financial model) necessary to establish two essentially different systems for anti-hail protection. The damage caused by the hail on the territory of the City of Belgrade and the financial investment in anti-hail protection to reduce it are empirically established for the first time. It is shown how the damage could be transformed to profit, as the financial investment in anti-hail protection is lower than the damage that hail can cause.

Keywords: agriculture; antihail suppression; Belgrade-Serbia; financial effects (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
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