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

An econometric model represents an important tool for simulating the principalmechanisms 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 diversityof (sub) theories, each of them claiming as being the most relevant. There is a large variety of sucheconometric models, but the basic principles of conceiving them are mostly the same. The presentpaper proposes an ARCH like model in order to analyse the absorption of structural funds withinthe Sectoral Operational Programme – Human Resources Management, at regional level. Thereare made considerations on the convergence of the model and on the applied statistical tests. Thereis also emphasized the role that such a model could play in improving future programmingexercises.