Abstract
Description of urban development could be explained like common endeavors of society to coordinate economical growth and social progress, to save usage of nonrenewable resources without threat of ecological balance. In the light of the attitudes of sustainable development researchers have raised the purpose to determine the current situation and possibilities of sustainable development of regions in Lithuania. Sustainable urban and regional development is closely related with investment in tangible fixed assets as well as direct foreign investment. This paper describes an approach for recognition of investment information patterns and the main factors that have a distinct impact on investment. The proposed multivariate data analysis strategy allow to evaluate, forecast and establish the favorable conditions for investment and develop the strategies for cohesive development of regions. In this article we present the application of the model using a database of economic and social development of regions in Lithuania. Our approach effectively recovers the structure of investment and enables forecasting. The capability to evaluate measurable features, identify the main features, and quantify their relationship with number of investments in space and time makes this approach applicable for decision support system and for creating range system for evaluation potency of the towns and regions.
Highlights
In this article we present the application of the model using a database of economic and social development of regions in Lithuania
The main aim of sustainable urban development is to mach up economical growth of the town progress, focusing on a more prudent consumption of natural resources, keeping the ecological balance as well as ensuring favorable living conditions for generations to come
In order to estimate the situation and make decisions it is expedient to evaluate and select the main factors that have an influence upon direct foreign investment in Lithuanian towns and regions
Summary
The main aim of sustainable urban development is to mach up economical growth of the town progress, focusing on a more prudent consumption of natural resources, keeping the ecological balance as well as ensuring favorable living conditions for generations to come. Sustainability is not a digital balance among all three aspects of the conception, their objectives and needs, it is necessary to co-ordinate them and set prerequisites in order to implement the conception 18]. In order to describe the social-economic processes and phenomena, large sets of social-economic indicators are necessary. Most of these indicators take the form of time series in data warehouses. That is why the use of statistical methods for the social-economic process analysis and decision-making is justified and indispensable. When describing the socio-economic situation, a great volume of initial data and indicators are used that characterize the development of a process. The initial data are transformed in that way ensuring the minimal loss of information
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