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

Authors

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.

Downloads

Download data is not yet available.

References

Algarin, C.R., Llanos, A. P., & Castro, A. O. (2017). An Analytic Hierarchy Proces Based Approach for Evaluating Renewable Energy Sources, International Journal of Energy Economics and Policy, 7(4), 38-47.

Ćirović, M., (2006). Bankarstvo, European Center For Peace and Development, Beograd. [in English: Ćirović, M., (2006). Banking, European Center For Peace and Development, Belgrade]

Čavlin, M., Vapa-Tankosić, J., Davidovac, Z., & Ivaniš, M. (2023). Analysis of risk factors of the financial and profit position with the objective of improving the vitality of the energy sector, Oditor, 9(2), 22-53.

Čupić, M., & Suknović M. (2010) Odlučivanje, Fakultet organizacionih nauka, Beograd. [in English: Čupić, M., & Suknović M. (2010) Decission-making, Fakultet organizacionih nauka, Belgrade]

Đukić, Đ. (2011). Upravljanje rizicima i kapitalom u bankama , drugo izdanje, Ekonomski fakultet, Beograd. [in English: Đukić, Đ. (2011). Managing risks and capital in banks, Second Edition, Faculty of Economics, Belgrade]

Đurković, V., Radosavljević, M., & Stanković, R. (2019). Application of the “AHP” method in determining the importance of the application of modern banking products to the performance of banks, Oditor, 5(1), 70-80.

Gojkov, D. (2023). Teorijski aspekti negocijabilnosti kao pravno-ekonomske kategorije, Revija prava, 3(1), 39-48. [in English: Gojkov, D. (2023). Theoretical aspects of negotiability as a legal-economic category, Law review, 3(1), 39-48]

Golubović, M., & Janković, G. (2023). FDI inflow in the function of improving economy competitiveness of the Republic of Serbia, Održivi razvoj, 5(1), 19-31.

Hemed, R. I. (2022). Normative arrangement of financial innovations in banking, Finansijski savetnik, 27(1), 25-64.

Jestrović, V., & Jovanović, V. (2022). The role of corporate governance in sustainable development, Održivi razvoj, 4(1), 43-53.

Ligus, M., & Peternek, P. (2018). Determination of most suitable low-emission energy technologies development in Poland using integrated fuzzy AHP-TOPSIS method, 5th International Conference on Energy and Environment Research, ICEER 2018, 153, 101-106

Lin M. C., Wang, C. C., Chen, M. S., & Chang C. A. (2008). Using AHP and TOPSIS approaches in customer-driven product design process, Computers in Industry, 59(1) 18-31.

Madžarević, A., Ivezić, D., Tanasijević, M., & Živković, M. (2020). The Fuzzy– AHP Synthesis Model for Energy Security Assessment of the Serbian Natural Gas Sector, Symmetry, 12(6), 908

Mihajlović M., Burić T., & Krstić S. (2014). Menadžment operativnim rizikom u bankarskom poslovanju, 17th DQM International Conference, Dependability and Quality management ICDQM-2014, 397-403. [in English: Mihajlović M., Burić T., & Krstić S. (2014). Operational risk management in the banking sector, 17th DQM International Conference, Dependability and Quality management ICDQM-2014, 397-403.]

Milojević, I., Mihajlović, M., & Vukša S. (2018). Novčani tokovi privrednog subjekta kao predmet revizije, Vojno delo, 70(3), 361-371 [in English: Milojević, I., Mihajlović, M., & Vukša S. (2018). Cash flow of a business entity as a subject of audit, Vojno delo, 70(3), 361-371]

Milutinović, S., Mikić, M., & Stojanović, M. (2021). The use of multicriteria decision-making methods in determining the optimal solution in the form of selection the priority in exploitation the ore deposit in Eastern Serbia. Mining and Metallurgy Engineering Bor, 1-2, 63-74

Mitić, N., Janjušić, D., & Beslać, M. (2022). Multikriteriumski metod odlučivanjaAHP u zelenim nabavkama. Ekonomika, 68(3), 61-70. https://doi.org/10.5937/ekonomika2203061M [in English: Mitić, N., Janjušić, D., & Beslać, M. (2022). Multicriteria decision-making method-AHP in green procurement. Ekonomika, 68(3), 61-70.]

Nikolić, B., Tasić, V., & Petrović, M. (2022). Savremeni državni sistemi, Revija prava, 2(2), 6-22. [in English: Nikolić, B., Tasić, V., & Petrović, M. (2022). Contemporary state systems, Law review, 2(2), 6-22]

Nikolić, I., & Borović S. (1996). Višekriterijumska optimizacija: metode, primena u logistici, softver, Centar vojnih škola Vojske Jugoslavije, Beograd. [in English: Nikolić, I., & Borović S. (1996). Multi-criteria optimization: methods, application in logistics, software, Center of Military Schools of the Army of Yugoslavia, Belgrade]

Praščević, Ž., & Praščević, N. (2014). Application of modified fuzzy TOPSIS method for multicriteria decisions in civil engineering, Building Materials and Structures 57(3), 43-61.

Ristić, K., Živković, A., & Jemović, M. (2023). Political economy of money, Oditor, 9(1), 103-125.

Rstić, M. (2020). Kanali distribucije životnih i neživotnih osiguranja u sportu, Management In Sport, 11(1), 18-22. [in English: Rstić, M. (2020). Distribution channels of life and non-life insurances in sport, Management In Sport, 11(1), 18-22]

Pantić, N., Damnjanović, R., & Kostić, R. (2021). Method of economic analysis as a part of methods of social sciences, Akcionarstvo, 27(1), 7-26.

Saaty, T. (1980). The Analytic Hierarchy Process, McGraw-Hill, New York.

Savić, B. (2022). Importance of integrated reporting for functioning of capital markets, Akcionarstvo, 28(1), 7-20.

Savić, B., & Milojević, I. (2022). Challenges of targeted formation of financial reports in modern business conditions, Oditor, 8(2), 30-53.

Stanojević, A. (2020). Ponašanje i odluke potrošača, Management In Sport, 11(1), 7-11. [in English: Stanojević, A. (2020). Behavior and decisions of consumers, Management In Sport, 11(1), 7-11]

Suknović M., & Delibašić B. (2010). Poslovna inteligencija i sistemi za podršku odlučivanju, Fakultet organizacionih nauka u Beogradu, Beograd. [in English: Suknović M., & Delibašić B. (2010). Business Business intelligence and decision support systems, Faculty of Organizational Sciences, Belgrade]

Zekić, M., & Brajković, B. (2022). Uloga finansijskog menadžmenta u preduzeću, Finansijski savetnik, 27(1), 7-24. [in English: Zekić, M., & Brajković, B. (2022). The role of financial management in a company, Financial advisor, 27(1), 7-24]

Downloads

Published

2024-03-31

How to Cite

Vladisavljević, V., Ristić, D., Obrić, B., Mičić, S. ., Lazić, S., Jakovljević, S., Mirković, S., & Praća , N. (2024). OPTIMISING INVESTMENT IN THE ENERGY SECTOR IN DEVELOPING COUNTRIES IN SOUTH EAST EUROPE . Ekonomika Poljoprivrede, 71(1), 263–274. https://doi.org/10.59267/ekoPolj2401263V