Experimental Estimation of the Matrix of Import Capital Cost Coefficients in the Dynamic Leontief Model for the Belarusian Economy in 2016–2020

Abstract

The article is devoted to the assessment of the matrix of import capital cost coefficients in the framework of the dynamic input–output model for the economy of the Republic of Belarus according to the data for 2016–2020. The assessment was carried out on the basis of the capital intensity of gross output and the technological structure of fixed capital in 19 integrated sectors of the Belarusian economy, the share of the import component in gross fixed capital formation and the average depreciation rate by the type of capital goods. As one of the applied results of the obtained matrix, the article presents calculations of the import intensity of domestic products for each of the industries—not only in terms of current costs, but also the capital component. The article also considers the directions for improving the results obtained, including for the tasks of macroeconomic forecasting.