ECONOMETRIC MODEL FOR ANALYSING THE STRUCTURAL FUNDS
  ABSORPTION AT REGIONAL LEVEL – SECTORAL OPERATIONAL
       PROGRAMME HUMAN RESOURCES DEVELOPMENT


                            Oana Gherghinescu, University of Craiova


ABSTRACT: An econometric model represents an important tool for simulating the principal
mechanisms of economic systems. This could be applied at different scales, namely regional,
national and international. When approaching this research field it should be kept in mind,
permanently, that macroeconomic theory represents a dynamic environment, with a large diversity
of (sub) theories, each of them claiming as being the most relevant. There is a large variety of such
econometric models, but the basic principles of conceiving them are mostly the same. The present
paper proposes an ARCH like model in order to analyse the absorption of structural funds within
the Sectoral Operational Programme – Human Resources Management, at regional level. There
are made considerations on the convergence of the model and on the applied statistical tests. There
is also emphasized the role that such a model could play in improving future programming
exercises.

Key words: Model Construction and Estimation, Model Evaluation and Testing, Regional Development
Policy

JEL codes: C51, C52, R58.