A Multivariate Approach in Measurement of the Sustainable Development of European Countries

Authors

  • Dejan Savić Atos, Pariske komune 22, Belgrade,
  • Zoran Bogetić University of Belgrade, Faculty of Economics
  • Marina Dobrota University of Belgrade, Faculty of Organizational Sciences
  • Nataša Petrović University of Belgrade, Faculty of Organizational Sciences

Keywords:

Sustainable development, Sustainability, Composite indicators, I-distance methodology, I2-distance, twofold I-distance approach

Abstract

Due to the rising importance and popularity of the concept of sustainable development, a huge number of various methodologies and concepts for measuring sustainability have evolved in the last few decades.  However, there are still challenges and issues that should be solved, suggesting the need for new approaches and sustainability metrics to be developed and proposed. The main goal of this paper is the present possibilities of application of I-distance methodology to measurement of the sustainable development as it could address some of the actual challenges related to subjective nature of usually applied normalization, weighting and aggregation methods.The proposed I-distance methodology was applied on a set of European countries. A twofold approach provided a deeper insight into not only domain dynamics, but also into total score dynamic. It can support policy makers to identify key indicators and focus the policy areas where appropriate policy measures would have the most significant influence on the overall positioning of the country.

Author Biographies

Dejan Savić, Atos, Pariske komune 22, Belgrade,

Dejan Savić was born in 1978 in Banja Luka, Bosnia and Herzegovina. He graduated from the Faculty of Organizational Sciences in Belgrade in 2002 and obtained his M.Sc. at the Faculty of Economics in Belgrade in 2009. He currently holds the position of Regional Head of Sales for the South East Europe at Atos IT Solutions and Services. He is a Ph.D. candidate at the Faculty of Organizational Sciences, University of Belgrade.

Zoran Bogetić, University of Belgrade, Faculty of Economics

Zoran Bogetić was born in 1966 in Podgorica, Montenegro. He graduated from the Faculty of Economics in Belgrade in 1991, received his M.Sc. in 1995 and Ph.D. in 2006 from the same institution. He currently holds the position of Associate professor at the Faculty of Economics, University of Belgrade.

Marina Dobrota, University of Belgrade, Faculty of Organizational Sciences

Marina Dobrota was born in 1984 in Belgrade, Serbia. She graduated from the Faculty of Organizational Sciences at the University of Belgrade in 2008, obtained her M.Sc. in 2009, and a Ph.D. in 2014 from the same institution. She currently holds the position of Assistant professor at the Faculty of Organizational Sciences, University of Belgrade.

Nataša Petrović, University of Belgrade, Faculty of Organizational Sciences

Nataša Petrović was born in 1966 in Belgrade, Serbia. She graduated from the Faculty of Organizational Sciences at the University of Belgrade in 1991, obtained her M.Sc. in 1999, and a Ph.D. in 2002 from the same institution. She currently holds the position of Full professor at the Faculty of Organizational Sciences, University of Belgrade.

Published

2016-05-20

How to Cite

Savić, D., Bogetić, Z., Dobrota, M., & Petrović, N. (2016). A Multivariate Approach in Measurement of the Sustainable Development of European Countries. Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, 21(78), 73–86. Retrieved from https://management.fon.bg.ac.rs/index.php/mng/article/view/49

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