Models of production functions for the Russian economy

Kirilyuk I.L.
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A comparative analysis of the applicability of several variants of the production function models for the analysis of modern Russian economy is presented in a paper. Through regression analysis, the effect of such factors as the oil prices on the world market, the innovation, the hypothesis of constant returns to factors of production is estimated. Calculations were made both for the economy as a whole and for separate industries. It is shown that the models of the economy of Russia as a whole and some of its industries in relation to real data have significant increasing returns to labor. Limits of applicability for the models are discussed.

Keywords: production functions, Cobb–Douglas functions, returns to factors of production, regression analysis, Russia
Citation in English: Kirilyuk I.L. Models of production functions for the Russian economy // Computer Research and Modeling, 2013, vol. 5, no. 2, pp. 293-312
Citation in English: Kirilyuk I.L. Models of production functions for the Russian economy // Computer Research and Modeling, 2013, vol. 5, no. 2, pp. 293-312
DOI: 10.20537/2076-7633-2013-5-2-293-312
URL: http://crm-en.ics.org.ru/journal/article/2020/
Creative Commons License This work is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.
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