The extraction of aggregates in Serbia, 1973 - 2015: A statistical exploration

Abstract

We contribute to the fields of mineral economics, environmental and economic history in two respects: first, we construct a novel time series data set for the levels of aggregates extraction in Serbia between 1973 and 2015; the second, we estimate a change point ordinary least squares regression to model the dynamics of aggregates extraction in the aforementioned period. Our cliometric estimates are in great accordance with the major business cycle facts of the Serbian economy in the last 40 years. The most important policy implication of our results pertains to the potential slowdown of aggregates extraction from the onset of the Great Recession.

Keywords

• aggregates
• mineral economics
• serbia
• cliometrics
• change point regression