engleski

Estimating model parameters and the model of regional economic development

The model parameters estimates and the estimates of the model of economic and tourism development of the given region are the basis for preparing the regional economy model function, which will enable us to determine the strength of this model in making predictions. When the adjustability of the model is shown to be acceptable and reliable, the model can then be used to predict the trends of economic development in the future period. Optimal decision-making in systems operations is not possible without predictions pertaining to future economic development.For long-term strategic decions there are require to use so-called intuitive methods.

model; economic growth; regional economic development; econometrics; tourism

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