I want to measure the development during conflict of two countries and ultimately compare the results, however, I am struggling to determine an appropriate model. My data is annual and I have the data for both my dependent variable and independent variables for both countries.
How do I know if it is panel data or time-series data? I personally think it may be simple time-series data, would I then be able to use ARIMA or ARMA models for the regression?
Hi Abbigayle,
I think since your data are collected from multiple individuals at several time intervals, you are dealing with cross-sectional panel data from which you can run a regression.
Best regards,
Ebrahim
I think its a time series because observations are taken sequentially over equally spaced time. In other words, there is no repeated observations (dependent variables) over multiple times, just a single independent observations.
The key difference between time series and panel data is that time series focuses on a single individual at multiple time intervals while panel data (or longitudinal data) focuses on multiple individuals at multiple time intervals. ... Fields such as Econometrics and statistics relies on data https://www.differencebetween.com/difference-between-time-series-and-panel-data/amp/
Check https://www.aptech.com/blog/introduction-to-the-fundamentals-of-panel-data/
Time series data, also referred to as time-stamped data, is a sequence of data points indexed in time order. Time-stamped is data collected at different points in time. These data points typically consist of successive measurements made from the same source over a time interval and are used to track change over time. https://www.influxdata.com/what-is-time-series-data/
Use logistic linear relations. To compare the conflict in the two countries.
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