An Empirical Comparison Between the Synthetic Control Method and HSIAO et al.'s Panel Data Approach to Program Evaluation
比较了合成控制法和面板数据方法两种项目评估方法，应用于香港政治经济一体化效应估计，发现结果因方法而异；模拟显示匹配良好时合成控制法误差更小。
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 range, whenever there is a good enough match. Copyright © 2016 John Wiley & Sons, Ltd.