Economic Annals 2017 Volume 62, Issue 214, Pages: 107-120
https://doi.org/10.2298/EKA1714107Z
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An analysis of key indicators of rural development in Serbia: A comparison with EU countries
Zekić Stanislav (Faculty of Economics in Subotica, Novi Sad)
Kleut Žana (Faculty of Economics in Subotica, Novi Sad)
Matkovski Bojan (Faculty of Economics in Subotica, Novi Sad)
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.