An Empirical Comparison Between the Synthetic Control Method and HSIAO et al. 's Panel Data Approach to Program Evaluation
合成控制法与 Hsiao 等人的面板数据项目评估法：实证比较
Summary We compare two program evaluation methodologies: the synthetic control method and the panel data approach. We apply both methods to estimate the effect of the political and economic integration of Hong Kong. The results obtained differ depending on the methodology used. We then conduct a simulation that shows that the synthetic control method results in a post‐treatment mean squared error, mean absolute percentage error, and mean error with a smaller interquartile…