Some models of Panel Data to model the GDP in the Iraqi economy

Hussein Al - Wakil, Khawla

	Some models of Panel Data to model the GDP in the Iraqi economy
Journal of Administration and Economics
Article 1, Volume 0, Issue 113, 2018, Pages 268-282
Author
Khawla Hussein Al - Wakil
Abstract
This research discusses the use of special model data (Panel) that consist of (Fixed) and (Random) , and their application it to study the effect of capitalism investment and the size of the labor on the Gross Domestic Product (GDP) for a number of sectors (Agriculture, Industry, Water and Electricity, Building and Construction, Transportation, Financial and Insurance) for the period (1992-2009) , since it's been known the more increment in GDP will lead to more increment of the total economy and thus increasing the overall size of the income and increasing the individual income , so the economic activity will be expanded . it has appeared accoroling Hausman test that the Fixed models for such data has an on the Random model, while the third model (Water and Electricity Sector) have influence on Gross Domestic Product as the value of the coefficient of determination (R2) = 86%, while it’s the best sector because it’s having less MSE also the specialized model of both the industry and the transportation sectors suffer from the problem of non- homogeneity of variance and to solve this problem we will use Fixed with Robust model. Keywords : Panel data model , Fixed effect model , Random effect model , Robust standard error , Testing of Structural homogenous test , Hausman test , Test of homogeneity of variance
Keywords
Statistical axis

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