Hello Everyone,
I am conducting Empirical Research on the impact of political instability and corruption on tourism for 10 Arab countries. The variables of my choice are political instability, corruption index, GDP per capita, UNESCO-listed heritage destinations. What type of econometric methodologies would fit such an empirical question? I would appreciate any help! Thanks!
To determine the type of methodologies, you need to review previous studies, is the N >T or vice -versa, is there cross sectional dependence among the variables as well as stating the objective of the studies.
As it has been mentioned, it is very relevant that you have a small number of units. This is going to limit the analyses you can effectively carry out. If N > T you have a macropanel. You can basically include country dummies and focus on the serial correlation issue.
I would say that, for the theory, you can try
https://oxford.universitypressscholarship.com/view/10.1093/acprof:oso/9780198736912.001.0001/acprof-9780198736912
Applications using Stata
Article Panel Time Series: Review of the Methodological Evolution
I hope it helps.
José-Ignacio
There are some excellent references on panel data analysis in the z-library google instructions for it's use. Your study is related to marketing so be sure to check panel methods in that area as well. Best wishes, David Booth
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