The 18th Meeting of the COMESA Committee of Governors of Central Banks, which was held in Kigali, Rwanda in December 2012, instructed the COMESA Monetary Institute to organize a training course on “Advanced Panel Econometrics” in 2013. In line with that decision CMI organized the training from 16-27 June 2013 in Cairo, Egypt.
Panel data econometrics enables applied macroeconomic researchers to work with combined cross section and time series region wide data. It will, therefore, enable to investigate the evidence across the continent or across the specific regional block. This is particularly true when the time span of data for a particular country is limited. Such cross country analysis is also useful when an issue is ambiguous and the researcher wants to know the evidence elsewhere in the continent or in a particular region.
The training was attended by 30 participants from 13 COMESA member countries. The key objectives of the training are the following:
i) Enhance participants understanding of modelling panel data
ii) Provide hands on training on empirical modeling of panel data
iii) Contribute to knowledge sharing and networking between member states on the designing and using panel data econometrics for implementation of better informed policies ; and
When opening the training, Mr. Ibrahim A. Zeidy, Director of the COMESA Monetary Institute, underscored that COMESA region needs growth enhancing structural transformation that will help achieve the Millennium Development Goals. In this regard, he said capacity building in Panel Data Econometric Modeling is crucial to monitor macroeconomic convergence, and to harmonize development policies. He also said that panel modeling is instrumental in underpinning the extent of symmetry or asymmetry of shocks across countries and thereby in the examination of the scope of the integration agenda.