OPTIMISING INVESTMENT IN THE ENERGY SECTOR IN DEVELOPING COUNTRIES IN SOUTH EAST EUROPE

Vladan Vladisavljević; Dejan Ristić; Bojan Obrić; Saša  Mičić; Snežana Lazić; Sanja Jakovljević; Spasenija Mirković; Nebojša Praća

doi:10.59267/ekoPolj2401263V

Authors

Vladan Vladisavljević Qinshift d.o.o., Žorža Klemensoa no. 19, Belgrade, Serbia https://orcid.org/0009-0001-9475-7076
Dejan Ristić Institute of Applied Sciences, Belgrade, Serbia https://orcid.org/0009-0005-1918-7543
Bojan Obrić Institute of Applied Sciences, Belgrade, Serbia https://orcid.org/0009-0005-0028-1054
Saša Mičić Despota Stefana Lazarevića nn, Banja Luka, Bosnia and Herzegovina https://orcid.org/0009-0005-5672-7270
Snežana Lazić Institute of Applied Sciences, Belgrade, Serbia https://orcid.org/0009-0008-1306-7438
Sanja Jakovljević University of Business Studies, Banja Luka, Bosnia and Herzegovina https://orcid.org/0009-0001-4075-7433
Spasenija Mirković University Business Academy, Cvećarska 2, Novi Sad, Serbia https://orcid.org/0009-0009-5335-3655
Nebojša Praća Institute of Applied Sciences, Belgrade, Serbia https://orcid.org/0009-0009-5247-8130

DOI:

https://doi.org/10.59267/ekoPolj2401263V

Keywords:

energy sector, developing countries, optimization, multicriteria, AHP, TOPSIS

Abstract

In this paper we are researching the optimality of developing counties for investing in their energy sector as a way of diversifying portfolio by applying the multicriteria decision making model There are multiple quantitative and qualitative criteria that can be considered when finding the adequate market for investment, other than its natural potential, such as the level that its energy sector is developed, legal framework that surrounds this sector, market openness of the observed economy, ease of investment and market liquidity. The four sources of the energy sector that are considered are oil, gas, coal and renewable energy sources. Even though the renewable energy sources aren’t sufficiently exploited, the countries that have high potential could provide significant financial profits by exploiting them.

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