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On Building Economic Development Patterns for Russia and Belorussia on the Basis of LAM-3 Econometric Model

Author

Listed:
  • Charemza, Wojciech

    (Leicester University, United Kingdom)

  • Makarova , Svetlana

    (University London College, United Kingdom)

  • Kharin, Yuriy

    (Belarusian State University, Belarus)

  • Malugin, Vladimir

    (Belarusian State University, Belarus)

  • Huryn , Aliaksandr

    (Belarusian State University, Belarus)

  • Raskina, Julia

    (European University, Saint Petersburg, Russia)

Abstract

The article deals with the results of econometric model building for Russian and Belorussian economic development using the LAM-3 methodology. LAM-3 is the most recent version of the Long-run Adjustment Model that is used for quarter-to-quarter modeling and forecasting to show the economic development of countries in Eastern Europe. The principles upon the LAM-3 models are built and the problems associated with the model-building processes are discussed. The models are used to depict the Russian and Belorussian economies in transition. The article describes the GIRAF software developed to be used in the LAM-3 series models and to assess the level of accuracy of the forecasts made for the economies of Russia and Belorussia

Suggested Citation

  • Charemza, Wojciech & Makarova , Svetlana & Kharin, Yuriy & Malugin, Vladimir & Huryn , Aliaksandr & Raskina, Julia, 2006. "On Building Economic Development Patterns for Russia and Belorussia on the Basis of LAM-3 Econometric Model," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 2(2), pages 124-139.
    • Handle: RePEc:ris:apltrx:0017
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    References listed on IDEAS

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    Cited by:

    1. Kravtsov, Mikhail & Burdyka, Mikalai & Haspadarets, Burdyka & Shynkevich, Natallia & Kartun, Andrei, 2008. "An Econometric Macroeconomic Model for Analysis and Forecasting of Key Indicators of the Belarusian Economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 10(2), pages 21-43.

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    More about this item

    Keywords

    Econometric Modeling; Forecasting; Long-run Adjustment; Simulation; Transition Economy of Russia and Belarus;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications

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