Towards a framework for evaluating socioeconomic development of regions: Serbian perspective

Abstract

Socioeconomic development of countries/regions always represented a challenge for researchers. In particular, large number of variables with different measurement units must be included into analysis. As a possible remedy to the issue, the use of statistical I-distance method was proposed and applied on the dataset concerning 25 regions in the Republic of Serbia. Further on, the results presented in this study clearly demonstrate the importance of Internet connectedness as one of the most significant indicators for measuring countries/regions welfare.