Russian Economy: Structural Change and Econometric Prospective

Abstract

Eight years have passed since the beginning of radical political and economic reforms in Russia. Deep and severe economic and social crises have taken place during the period we observed. Apart from the importance of discussing political and economic problems it is always desirable to have appropriate instruments for analyzing the past and forecasting the future. Mathematical economic models are the very instruments to accomplish the task. Moreover the process of model making itself helps significantly in understanding and clarifying economic realities. Therefore, first we present a short description of the models we have and problems that we encountered while modeling, and then proceed to some economic results.