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Economic Analysis: Theory and Practice

A systems-based approach to forecasting Gross Regional Product using the inter-industry balance model

Vol. 22, Iss. 4, APRIL 2023

Received: 2 July 2020

Received in revised form: 16 July 2020

Accepted: 25 July 2020

Available online: 27 April 2023


JEL Classification: C53, E17, O11, R15

Pages: 779–790


Gavril N. OKHLOPKOV Institute of Mathematics and Information Science, M.K. Ammosov North-Eastern Federal University (NEFU), Yakutsk, Republic of Sakha (Yakutia), Russian Federation

ORCID id: not available

Subject. This article explores the issues related to the system of indicators of forecasting of gross regional product and their relationship.
Objectives. The article aims to justify the appropriateness of using a systems-based approach when forecasting gross regional product, based on the inter-industry balance model.
Methods. For the study, I used the techniques of mathematical modeling in economics. To verify the accuracy of the forecast calculations, retrospective forecasts of the gross regional product of the Republic of Sakha (Yakutia) for 2017–2018 were carried out.
Results. The article presents a developed classification of significant types of economic activity to forecast gross regional product.
Conclusions. The use of a systems-based approach in the forecast calculations of gross regional product using the inter-industry balance model provides adequate forecast results.

Keywords: gross regional product, classification, inter-sectoral balance model, prediction, comprehensive approach


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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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