Parametric Control of Regional Unions on the Basis of the Econometric Models

Abdykappar A. Ashimov, Yuriy V. Borovskiy, Bakhyt T. Sultanov, Rakhman A. Alshanov, Nurlan T. Sailaubekov, Bakytzhan A. Aisakova, and Dauren T. Aidarkhanov


Identification and estimation, Optimization, Parametric control, Regional economic union


There have been built econometric models of the regional Customs Union and the Common Economic Space between Russian Federation, the Republic of Belarus and the Republic of Kazakhstan which interact with each other as within the appropriate economic unions, so with the rest of the world. The econometric model of the Customs Union consists of econometric models of single countries, built on the basis of descriptions of equilibrium conditions in macroeconomic markets of goods, money, labor and conditions of zero balance of payment, balance of state budget of countries of the union by pertinent regression functions. The econometric model of the Common Economic Space represents an econometric model of the regional Customs Union and the description of macroeconomic policy coordination conditions. Stability indicators of constructed econometric models for the discussed unions are estimated. Based on the constructed mathematical models for the regional unions, there is carried out a macroeconomic analysis of influence of external and internal factors on the indicators of single countries and regional unions. Relevant problems of parametric control for the Customs Union are defined and solved to make recommendations in the field of economic policy for the considered regional unions.

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