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

Wojciech Charemza (), Svetlana Makarova (), Yuriy Kharin (), Vladimir Malugin, Aliaksandr Huryn () and Yulia Raskina
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Svetlana Makarova: University London College, United Kingdom
Yuriy Kharin: Belarusian State University, Belarus
Aliaksandr Huryn: Belarusian State University, Belarus

Applied Econometrics, 2006, vol. 2, issue 2, 124-139

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

Keywords: Econometric Modeling; Forecasting; Long-run Adjustment; Simulation; Transition Economy of Russia and Belarus (search for similar items in EconPapers)
JEL-codes: E12 E17 (search for similar items in EconPapers)
Date: 2006
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