Year of Graduation
Bayesian Approach to the Spatial Econometric Modelling of the Economic Growth: the Case of Russian Regions
This study is dedicated to the regional economic development in Russia from 2000 to 2014. The convergence hypothesis is tested on the regional data and the analysis of spatial relationship is performed. Several spatial econometric models were estimated and different methods of estimations were used. The results are not conclusive due to the differences in the estimations, however we can say that spatial relationships between the regions exist. The most significant estimates have been obtained for the modified Spatial Durbin model estimated with MCMC.