TY - JOUR
T1 - A PANEL DATA APPROACH FOR PROGRAM EVALUATION
T2 - MEASURING THE BENEFITS OF POLITICAL AND ECONOMIC INTEGRATION OF HONG KONG WITH MAINLAND CHINA
AU - HSIAO, Cheng
AU - CHING, H. Steve
AU - WAN, Shui Ki
N1 - Research Unit(s) information for this publication is provided by the author(s) concerned.
PY - 2012/8
Y1 - 2012/8
N2 - We propose a simple‐to‐implement panel data method to evaluate the impacts of social policy. The basic idea is to exploit the dependence among cross‐sectional units to construct the counterfactuals. The cross‐sectional correlations are attributed to the presence of some (unobserved) common factors. However, instead of trying to estimate the unobserved factors, we propose to use observed data. We use a panel of 24 countries to evaluate the impact of political and economic integration of Hong Kong with mainland China. We find that the political integration hardly had any impact on the growth of the Hong Kong economy. However, the economic integration has raised Hong Kong's annual real GDP by about 4%.
AB - We propose a simple‐to‐implement panel data method to evaluate the impacts of social policy. The basic idea is to exploit the dependence among cross‐sectional units to construct the counterfactuals. The cross‐sectional correlations are attributed to the presence of some (unobserved) common factors. However, instead of trying to estimate the unobserved factors, we propose to use observed data. We use a panel of 24 countries to evaluate the impact of political and economic integration of Hong Kong with mainland China. We find that the political integration hardly had any impact on the growth of the Hong Kong economy. However, the economic integration has raised Hong Kong's annual real GDP by about 4%.
KW - Economics
UR - http://www.scopus.com/inward/record.url?scp=84864008547&partnerID=8YFLogxK
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-84864008547&origin=recordpage
U2 - 10.1002/jae.1230
DO - 10.1002/jae.1230
M3 - RGC 21 - Publication in refereed journal
SN - 0883-7252
VL - 27
SP - 705
EP - 740
JO - Journal of Applied Econometrics
JF - Journal of Applied Econometrics
IS - 5
ER -
