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Regional Economics: Theory and Practice
 

Methods of evaluation of the impact of structural policies on the macroeconomic parameters: Regression models and a partial equilibrium model

Vol. 14, Iss. 11, NOVEMBER 2016

PDF  Article PDF Version

Received: 5 April 2016

Received in revised form: 19 May 2016

Accepted: 16 June 2016

Available online: 17 November 2016

Subject Heading: SCHOLAR DISPUTE

JEL Classification: C20, C30, D58, E27, O12

Pages: 183-196

Lavrent'ev A.S. South Ural State University – National Research University, Chelyabinsk, Russian Federation
allavr@yandex.ru

Krinichanskii K.V. South Ural State University – National Research University, Chelyabinsk, Russian Federation
kkrin@ya.ru

Importance The article discusses the methods of assessing the relationship between structural policy and economic growth; it shows the peculiarities of different methods and assesses their ability to uncover the nature of the impact of structural reforms on macroeconomic indicators.
Objectives The article aims to disclose the methodological peculiarities of approaches to the assessment of the relationship of structural policy and economic growth, and the opportunities arising for the practical application.
Methods For the study, we used a comparative analysis of research approaches.
Results We reveal the features, advantages and disadvantages of regression and partial equilibrium models used to assess the impact of structural change, the impact of structural reforms on macroeconomic variables.
Conclusions We conclude that Single Equation Models are the most common approach to the assessment of structural change. Partial Equilibrium Models are an important tool for evaluating the effectiveness of structural reforms in certain sectors and areas.

Keywords: restructuring, reform, economic development, econometric model, market equilibrium

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