25th INFORUM World Conference

The 25th INFORUM (INterindustry FORecasting at the University of Maryland) World Conference was held in Riga from August 28th to September 1st, 2017. Economic researchers from five continents discussed development and application of econometric, input-output and INFORUM-type models used for analysis and forecasts of economic development and industry structure dynamics (Fig.1).

Fig.1. Opening speech by Prof. R.Počs, the Dean of the Faculty of Engineering Economics and Management, Riga Technical University (RTU) (T.Juhna, the Vice-Rector for Research, RTU and D.S.Meade, the Director of INFORUM at the presidium table).

 The scientific project of the INFORUM model development was started 50 years ago. It is now being successfully developed by the scientists of the University of Maryland under the supervision of C.Almon. The project unites scientists and scientific institutions from 24 different countries – the USA, Australia, Austria, Belgium, Canada, China, Denmark, Estonia, France, Germany, Hungary, Italy, Japan, Korea, Latvia, Lithuania, Mexico, Poland, Russia, South Africa, Spain, Switzerland, Thailand and Turkey.

Fig.2. Participants of the Conference.

Each year the conference is organized by one of the partner countries. This year the conference was organized by the Department of International Relations, Transport Economics and Logistics of the Faculty of Engineering Economics and Management at Riga Technical University. The conference brought together researchers from 14 countries: the USA, Italy, Germany, China, Japan, South Africa, Russia, Poland, Turkey, Estonia, Hungary, Chile, Korea and Latvia (Fig.2).

Fig.3. Prof. T.Juhna, the Vice-Rector for Research of Riga Technical University giving a speech.

At the opening of the conference T. Juhna, the Vice-Rector for Research, RTU informed the participants about the University and its scientific achievements. He also pledged his support for scientific research of INFORUM project network (Fig.3).

Fig. 4. Assoc.Prof. V.Ozoliņa presenting a report.

Assoc. Prof. V. Ozoliņa and Prof. R. Počs from Riga Technical University, Latvia presented their study on competitiveness analysis using macroeconomic models (Fig.4). Scientists from other countries gave their reports on analysis and modelling of structural changes,  labour migration and human capital, different aspects of value-added trade and other results of research (for example, Structural Changes of Chinese Economy – Based on Input-Output  Analysis (S. Li), Assessing the Economic Contribution of Labour Migration in South Africa by a Dynamic Multisectoral Macroeconomic Model (D. Mullins, P. Nkosi, D. Mosaka), Trade in Value-Added and Labour Productivity (T. Hasegawa), Explorations of U.S. Tax Reform (D.S.Meade)). Participants of the conference presented and discussed the latest achievements, improvements and updates on development of dynamic input-output INFORUM models. In addition to scientific report sessions, the conference also featured a workshop on the specialized modelling software Portable Dyme, its specifics and application.

Fig.5. D.S.Meade, the Director of the INFORUM from the USA and Prof. R.Počs from RTU signing the cooperation agreement.

Signing the cooperation agreement between the national partners of the INFORUM network on August 31st was a significant event at the conference (Fig.5).