Study on Fixed Effect versus Random Effects Modeling in a Panel Data Analysis; a Consideration of Economic and Political Indicators in Six African Countries

Individual heterogeneity in panel data analysis can be addressed to avoid bias in the final estimations. The data in a panel might be balanced or imbalanced, and the panel can be short or long. The fixed effects and random effects modelling methodologies were applied to an economic data set, “Africa,” in the R Amelia package,…
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November 26, 2021 0