Econometric Modelling of Influence of Factors on GDP of the Post-Soviet Countries

Introduction. The processes proceeding in turbulent economy demand continuous monitoring and the analysis, it is possible to refer to those safely formation of gross domestic product in the Post-Soviet countries. A set of external and internal factors exert impact on this formation of this indicator, it is possible to measure this influence perhaps having resorted to econometric methods.

Theoretical analysis. As a method of identification and measurement of dependence between variables the correlation and regression analysis is used, also in the course of the research we addressed tabular and graphic methods.

Empirical analysis. The carried-out analysis of reaction of GDP on political and socio-economic factors, allows us to draw a number of conclusions: first, it is possible to state coinciding reaction of economy of the considered countries, on the crisis situations caused by political decisions (collapse of the USSR) or economic factors (world crises of 1998 and 2009); secondly, drift of set of factors of the Post-Soviet countries exerting impact on GDP (per capita) is observed; thirdly, the more time passes from the beginning of market reforms, the values of macroeconomic indicators of the countries which entered the European Union differ from other Post-Soviet countries stronger; fourthly, in all four time slices, agriculture makes the constraining impact on economic growth, and the farther from 1991, the influence of such factor as the index of human potential is shown stronger that indirectly indicates preparation for transition to digital economy.

Results. Econometric modeling of difficult economic systems, in the conditions of turbulent economy is rather difficult task and it is necessary to approach it with extra care, considering all features of the Post-Soviet countries. In the research we made an attempt to create such econometric models, the received results can serve as a starting point in further researches, and the revealed regularities make a certain contribution to the theory of transitional economies.