Regressional modeling and forecasting of economic growth for arkhangelsk region
The regression models of GRP, considering the impact of three main factors: investment in fixed assets, wages amount, and, importantly, the innovation factor –the expenditures for research and development, are constructed in this paper on the empirical data for Arkhangelsk region. That approach pe...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Russian Academy of Sciences, Institute of Economics of the Ural Branch
2012-12-01
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| Series: | Экономика региона |
| Subjects: | |
| Online Access: | http://www.economyofregion.com/archive/2012/43/2048/pdf/ |
| Summary: | The regression models of GRP, considering the impact of three main factors: investment in fixed assets, wages amount, and,
importantly, the innovation factor –the expenditures for research and development, are constructed in this paper on the empirical data
for Arkhangelsk region. That approach permits to evaluate explicitly the contribution of innovation to economic growth.
Regression analysis is the main research instrument, all calculations areperformedin the Microsoft Excel.
There were made meaningful conclusions regarding the potential of the region's GRP growth by various factors, including impacts
of positive and negative time lags. Adequate and relevant models are the base for estimation and forecasting values of the dependent
variable (GRP) and evaluating their confidence intervals.
The invented method of research can be used in factor assessment and prediction of regional economic growth, including growth
by expectations. |
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| ISSN: | 2072-6414 2411-1406 |