Comparative regional GDP analysis: case study of Croatia

The focus of this paper is the regional GDP analysis of Croatian Counties. It is a part of an extensive on-going scientific research about Croatian economic challenges within the global recession environment. Although, as EU accession country, Croatia is divided into three NUTS 2 regions, twenty one Croatian Counties show significant economic and social disproportions. In multiple regression model it is researched to what extent regional GDP per capita depends on a set of regional variables (employment, gross investment, production of more important agricultural products, GVA per person employed, construction works value, exports, imports, foreign tourists arrivals, foreign tourist nights, ecology...). Subsequently parameters are evaluated by Monte Carlo simulations which are used for the first time in comparative regional analysis. Also Croatian Counties are classified using Cluster analysis to make a comparative analysis with official spacing into three NUTS 2 regions which are geographical and political areas rather than real and homogenous socio-economic areas.