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Educational Programme
Final Grade
Year of Graduation
Anna konstantsiia Oiner
A Spatial Econometric Approach to Modelling Russian Regional Economic Growth
(Bachelor’s programme)
This paper investigates the determinants of economic growth of the Russian

regions over the period of 2004-2015. The empirical modelling we chose aims to

account for spatial correlation under model uncertainty. Thus models in our study

include a spatial lag while explanatory variables are selected using Bayesian model

averaging. The application of this methodology is new for the Russian regional

data on economic growth during the period of 2004-2015. Therefore, our study

fills an important gap in the existing literature on regional economics. This kind of thorough study of economic growth is crucial when shaping the regional policy that ensures stable and geographically balanced growth. The results indicate that economic growth in the Russian regions is mainly influenced by investment, trade, the structure of economy and risk level.

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