Economic Loss Estimation in the Context of Country’s Economy | Zendy

Žaneta Simanavičienė | Zendy; Oksana Palekienė | Zendy; Illya Khadzhynov | Zendy

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Economic Loss Estimation in the Context of Country’s Economy

Author(s) -

Žaneta Simanavičienė,

Oksana Palekienė,

Illya Khadzhynov

Publication year - 2014

Publication title -

economics and business

Language(s) - English

Resource type - Journals

ISSN - 2255-8756

DOI - 10.7250/eb.2014.011

Subject(s) - recession , economics , estimation , economic indicator , context (archaeology) , economic expansion , economic statistics , economic recovery , economic analysis , economic policy , macroeconomics , geography , econometrics , agricultural economics , management , archaeology

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.

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