An Econometric Analysis of Investment in Hungary

Fink, G. & Simon, A. (1983). An Econometric Analysis of Investment in Hungary. IIASA Collaborative Paper. IIASA, Laxenburg, Austria: CP-83-023

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Abstract

Input-output analysis has found widespread empirical application, in studies of how certain industrial sectors react to changes in national and international economic conditions and in static and dynamic investigations of the interrelationships between industries. Since 1979 IIASA has been consistently active in this field, primarily through extensive collaboration with the Inter-Industry Forecasting Program (INFORUM) coordinated at the University of Maryland by Clopper Almon and Douglas Nyhus. IIASA's aims have been to further the development of econometric input-output models, to assist in the linkage of national models, and to participate in and extend the international network of collaborating scientists.

To date, eighteen national models have been installed at IIASA, the software package SLIMFORP has been distributed widely, and linked runs of some of the national models have been carried out. Furthermore, annual task force meetings on input-output modeling have served to bring together present and prospective members of the INFORUM-IIASA "family" to review progress and to exchange ideas for further work.

Gerhard Fink (Vienna Institute for Comparative Economic Studies) and Andras Simon (Institute for Economic and Market Research, Budapest) are collaborating in the development of an INFORUM-type input-output model for Hungary. In this paper they describe a study of Hungarian investment policy over recent decades, dealing with both the sectoral allocation of total investment and the cyclical investment patterns observed. The results are being used in the construction of an econometric submodel of investment for the Hungarian INFORUM model.

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