Economic Loss Estimation in the Context of Country’s Economy

Zaneta Simanaviciene, Oksana Palekiene, Illya Khadzhynov

Abstract


The economic decline in the period of economic downturn affects social and economic development of the country’s regions. In this paper economic loss incurred is understand as amount of forgone income in the period of economic downturn. The presented methodology allows to objectively access economic losses and to identify which country or region suffered most from the economic crisis. The methodology presented in the paper is based on the dynamics of actual economic indicator - GDP change.

Keywords:

Regional development, economic crisis, economic loss, social and economic development indicators

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References


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DOI: 10.7250/eb.2014.011

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