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

Summary/Abstract: The rapid technological and economic development caused the emergence of new risks and influenced the change in the frequency and effects of those already known. 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, the effects of low-scale disasters, which are generally not regarded as relevant from a macroeconomic point of view, further affect sustainable regional development. These disasters cause social, economic and environmental problems especially in the region of Šumadija and Western Serbia. From the aspect of impact on economic activities, it can be concluded that these disasters significantly affect agricultural production in the entire territory of the Republic of Serbia. 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 disaster risk management.

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