Socio-economic Impact of Natural Disasters in the Republic of Serbia

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Jelena Stanković
Zoran Tomić
Jovica Stanković


The rapid technological and economic development caused the emergence of new risks and influenced the change in the frequency and intensity of the effects of those already known in the second half of the twentieth century. Considering that characteristics of natural disasters vary in space and time, the aim of this paper is to perform a spatial and temporal analysis of their impact on the society and economic activities in the Republic of Serbia. For this purpose, data from the "DesInventar" database were used for the period from 1996 to 2019. Multidimensional data analysis shows that the effects of catastrophic risks are greater in less developed regions. Moreover, low-intensity disasters, which effects are generally not regarded as relevant from a macroeconomic point of view, further affect sustainable local development. These catastrophes in the territory of the Republic of Serbia affect especially the region of Sumadija and Western Serbia, causing social, economic and environmental problems. From the aspect of impact on economic activities, it can be concluded that the effects of these disasters, in relation to extreme disasters, significantly affect agricultural production in the entire territory of the Republic of Serbia causing damage to agriculture. From this point of view, the results of this paper point to significant aspects of the effects of natural disasters, as well as potential ways to manage catastrophic risks in the Republic of Serbia. Therefore, they can be considered a notable input for policy makers, insurance companies and other relevant stakeholders in catastrophe risk management.

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