Metaregression analysis mra is metaeconometrics, uses the very tools that produce economics research, and provides a rigorous, objective alternative to conventional narrative. The present study is the first to apply meta regression analysis to the evidence on fiscal multipliers. Economics series swp 201511 the impact of healthcare. Metaregression analysis as the socioeconomics of economic research 1 i. Meta regression has gained popularity in social, behavioral and economic sciences. In past studies, data envelopment analysis dea has been used extensively to estimate the mean technical efficiency mte of agricultural farms. Meta regression analysis is a suitable tool for this issue and objectifies the results from a very broad array of empirical evidence. Metaregression analysis in economics and business t d stanley.
Regression analysis, oxford bulletin of economics and statistics, department of economics, university of oxford, vol. Meta analysis is the statistical analysis of an entire empirical literature. Advances through metaanalysis routledge communication. Metaa analysis of economics research reporting guidelines. Metaregression methods for detecting and estimating. However, research in economics and business is often fundamentally different from what is found in the sciences and thereby requires different methods for its synthesismetaregression analysis.
Meta regression methods for detecting and estimating effects in the presence of publication selection t. Meta regression analysis is a tool that explicitly accounts for these aspects and, thus, presents the mostly applied method of meta analysis in empirical economics research stanley and. In particular, metaregression analysis is a form of metaanalysis especially designed to investigate empirical research in economics stanley and jarrell, 1989. Meta analysis is the quantitative method of research synthesis, originally developed in medical research. Pdf download metaregression analysis in economics and business. This focus rules out a small number of hedonic wine price studies that include other factors but exclude a measure of overall sensory wine quality.
Metaregression analysis in economics and business dro. Future metaanalyses in economics will be expected to follow these guidelines or give valid reasons why a metaanalysis must deviate from them. The purpose of this book is to introduce novice researchers to the tools of meta analysis and metaregression analysis and to summarize the state of the art for existing practitioners. The elasticity of substitution between capital and labour in. Future meta analyses in economics will be expected to follow these guidelines or give valid reasons why a meta analysis must deviate from them. Metaanalysis is the quantitative method of research synthesis, originally developed in medical research. Metaregression analysis is a suitable tool for this issue and objectifies the results from a very broad array of empirical evidence. A quantitative method of literature surveys journal of economic surveys, vol. In this article, we present the results of a rigorous meta regression analysis based on 545 estima. Metaregression analysis in economics and business 1st.
Metaregression analysis mra is a quantitative method of conducting literature surveys. Martin paldam, department of economics and business, aarhus. The articles considered differ in the data sources. South east european journal of economics and business. This reading list is managed by tomas havranek who can update the reading list here. Regression analysis is a quantitative tool that is easy to use and can provide valuable information on financial analysis and forecasting. Metaregression analysis in economics and business semantic. These methods are fixed effects and random effects metaregression analysis mra suggested by brockwell and gordon, 2001, stanley and doucouliagos, 2015, stanley and doucouliagos, 2016 for studies in the economics and business disciplines. Metaregression analysis offers a unique methodology for seeing through the mist that often surrounds empirical economics and should be an indispensable part of good policy development. Metaregression analysis in economics and business routledge advances in research methods lyjg. The paper conducts a qualitative narrative appraisal of the existing empirical literature on the key macroeconomic determinants of economic growth in developing and developed countries. Do democracies attract more foreign direct investment.
Meta regression analysis mra provides an empirical framework through which to integrate disparate economics research results, filter out likely publication selection bias, and explain their wide variation using socioeconomic and econometric explanatory variables. Metaregression analysis in economics and business t. In the context of benefit transfers, meta analysis can produce reducedform functions that identify and test systematic influences of study, economic, and resource attributes on willingness to. Metaregression analysis as the socioeconomics of economic. Introduction we live in a remarkable era of economics research and growth in our collective empirical knowledge. Identifying and explaining the socioeconomics of economic. While there exists a large body of research on the effectiveness of enterprise zones on economic development, it is largely inconclusive, making metaregression analysis an appropriate econometric technique. Our database is composed of a large set of both published and unpublished papers written in the period 20022014. Meta regression methods for detecting and estimating empirical effect in the presence of publication selection, oxford bulletin of economics and statistics 70, 103127.
Metaanalysis is the statistical analysis of an entire empirical literature. This page is updated in the first days of each month, at least. It shows that the big firm premium is overstated in. Metaanalysis is the statistical analysis of previously published, or.
Julia mobley professor of economics, hendrix college, usa. Metaregression methods for detecting and estimating empirical effect in the presence of publication selection, oxford bulletin of economics and statistics 70, 103127. However, research in economics and business is often fundamentally different from what is found in the sciences and thereby requires different methods for its synthesis meta regression analysis. Read ebook now 0415670780pdf download metaregression analysis in economics and business. Specifically, we apply meta regression analysis to 56 studies with 979 estimates and show that there is substantial publication selection bias towards a positive impact of education on growth. It seeks to summarize, evaluate and analyse what we know about a given empirical question, phenomenon, or effect. In a metaregression analysis, the dependent variable is a summary statistic, perhaps a regression parameter, drawn from each study, while. Metaregression analysis addresses the rising tower of babel that current economics and business research has become. The effect size is the risk ratio, with a riskratioof 0. Metaanalysis combines and integrates the results of several studies that share a common aspect so as to be combinable in a statistical manner harmon et al, 2003. Metaregression analysis is a tool that explicitly accounts for these aspects and, thus, presents the mostly applied method of metaanalysis in empirical economics research stanley and. Foreign capital and domestic productivity in the czech. Our metaanalysis of 236 estimated minimum wage elasticities and 710 partial correlation coefficients from 16 uk studies finds no overall practically significant adverse employment effect.
Important applications have focused on qualifying estimates of policyrelevant parameters, testing economic theories, explaining heterogeneity, and qualifying potential. Metaregression analysis in economics and business routledge advances in research methods book 5 kindle edition by stanley, t. My study pooled data from 25 targeted zone studies from the. Metaanalysis is the statistical analysis of previously published, or reported, research findings on a given hypothesis, empirical effect, phenomenon, or. Most industrial estimates do not deviate significantly from the estimate for the aggregate economy. Download it once and read it on your kindle device, pc, phones or tablets.
Faculty of business and law school of accounting, economics and finance economics series swp 20159 does ict generate economic growth. Pico is an acronym for participantinterventioncomparatoroutcomes. A meta regression analysis updated may 2016 craig a. Metaregression examines the impact of moderator variables on study effect size using regressionbased techniques. Meta regression analysis mra is a quantitative method of conducting literature surveys. Numerous studies have focused on delineating the relationship between tourism and economic growth. A metaregression analysis of the evaluation literature, research policy on deepdyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips. Meta regression analysis in economics and business. Because empirical economics is largely based on regression analysis, meta regression analysis mra was developed to evaluate and summarize economics research stanleyjarrell 1989. In my first meta regression analysis, i combine results from 42 studies containing 7 comparable estimates, all which endeavour to.
The focus of the metaregression analysis is the relation between the price and quality of a bottle of wine as measured by a single rating based on a sensory evaluation. As the name suggests, meta regression analysis uses regression to explain the variation among reported regression estimates or transformation of. Economics series swp 20159 does ict generate economic growth. The present study is the first to apply metaregression analysis to the evidence on fiscal multipliers.
It is very unlikely that all heterogeneity will be explained, so there will be. Save up to 80% by choosing the etextbook option for isbn. Request pdf metaregression analysis in economics and business the purpose of this book is to introduce novice researchers to the tools of meta analysis. Metaregression is more effective at this task than are standard metaanalytic techniques. Economics in utrecht, the 2008 workshop on metaanalysis in economics and business in nancy, the 2008 iipf conference in maastricht, the 2nd annual conference of the portuguese economic journal in evora, and seminar participants at the federal reserve bank of atlanta, georgia state university, and tilburg university. Metaregression analysis mra provides an empirical framework through which. Unlike us studies, there seems to be little, if any, overall reporting bias. Tabular analysis, correlations and regression estimates can be easily combined. Abstractin this article, we evaluate the extent of the causal effect of parental education on the education of their children. Producing credible estimates from diverse evidence. The employment effect from raising the minimum wage has long been studied but remains in dispute. Use features like bookmarks, note taking and highlighting while reading metaregression analysis in economics and business routledge. Gallet and chris doucouliagos the working papers are a series of manuscripts in their draft form. Metaregression analysis in economics and business request pdf.
Regression basics for business analysis investopedia. The counting methodology is extremely flexible since it requires only qualitative assessment of relationships. Meta regression analysis in economics and business 1st edition by t. To address this, we employ metaregression analysis to explore not only the overall level of scale and scope economies across more than 40 international studies conducted in australia, the us, the uk, italy, china, and elsewhere since the early 1980s, but also those factors that potentially affect their presence in the higher education sector. Metaregression analysis of recreation valuation and. Meta regression analysis and the big firm premium david hay, the university of auckland business school november 2011 abstract this paper uses meta regression analysis to take stock of the results of research examining the premium charged by the big audit firms.
Once we account for this, we find evidence of a genuine effect of. Introduction to metaregression analysis hendrix college. We find that aid has had, on average, a zero or negative effect on democracy, except that it has had a positive effect on democratization in european transitional economies. Metaregression methods for detecting and estimating empirical effect in the presence of publication bias. Regression analysis is a statistical tool for the investigation of re lationships. The benefits and challenges of using metaregression analysis. This paper surveys the literature that examines the effect of education on economic growth. In economics, meta analyses have been widely used for calibrating structural models, examining patterns of publication selection, and explaining the differences in the results of individual studies. Metaregression analysis in economics and business 1st edition by t. Metaregression analysis is a tool that explicitly accounts for these aspects and, thus, presents the mostly applied method of meta analysis in empirical economics research stanley and. Explaining estimated economies of scale and scope in. Its main disadvantage is that the outcome is also qualitativethe ex.
Frame a question for framing an answerable question in a meta analysis, use the pico framework schardt et al. Meta regression analysis can control statistically for factual heterogeneity, methodological diversity, and possible biases among the primary studies. In this article, we present the results of a rigorous metaregression analysis based on 545 estimates drawn from 1 studies that empirically tested the tourismled growth hypothesis tlgh. The focus of the meta regression analysis is the relation between the price and quality of a bottle of wine as measured by a single rating based on a sensory evaluation. Meta analysis is the statistical analysis of previously published, or reported, research findings on a given hypothesis, empirical effect, phenomenon, or policy intervention. Hristos doucouliagos the purpose of this book is to introduce. Specifically, we apply metaregression analysis to 56 studies with 979 estimates and show that there is substantial publication selection bias towards a positive impact of education on growth.
Metaregression analysis as the socioeconomics of economics. Examination of estimates of the income elasticity of the value of a statistical life based on international stated preference studies yields an average between 0. Faculty of business and law department of economics economics series swp 201511 the impact of healthcare spending on health outcomes. In particular, metaregression analysis is a form of meta analysis especially designed to investigate empirical research in economics stanley and jarrell, 1989. Foreign capital and domestic productivity in the czech republic. In this study, a metaregression analysis has been performed to examine variables that.
Meta regression analysis offers a unique methodology for seeing through the mist that often surrounds empirical economics and should be an indispensable part of good policy development. In this study, a meta regression analysis has been performed to examine variables that affect the mte variation in 100 studies. In economics, metaanalyses have been widely used for calibrating structural models, examining patterns of publication selection, and explaining the differences in the results of individual studies. Once we account for this, we find evidence of a genuine effect of education on economic growth. Stanley, chris doucouliagos and piers steel the working papers are a series of manuscripts in their draft form. Metaregression has gained popularity in social, behavioral and economic sciences. I set up and use a unique data set of 104 studies on multiplier effects providing 1,069 multiplier observations.
The working papers are a series of manuscripts in their draft form. Throughout the analysis, the hypothesis of a cobbdouglas production function is rejected. Presented at the aarhus colloquium of metaanalysis in economics, sonderborg, denmark, september 2730, 2007 invited paper. Introduction recently, the journal of socioeconomics devoted a special issue to the abuses of statistical significance in economics altman, 2004, ziliak and mccloskey, 2004. Metaregression analysis mra provides an empirical framework through which to integrate disparate economics research results, filter out likely publication selection bias, and explain their wide variation using socioeconomic and econometric explanatory variables. Meta regression analysis addresses the rising tower of babel that current economics and business research has become. The purpose of this book is to introduce novice researchers to the tools of metaanalysis and metaregression analysis and to summarize the state of the art for existing practitioners. Conduct subgroup analyses and meta regression to test if there are subsets of research that capture the summary e ects step i. In a meta regression analysis, the dependent variable is a summary statistic, perhaps a regression parameter, drawn from each study, while. We adopt a metaregression analysis using 37 impact evaluation studies that were in the public domain by march 2012, and draw out several lessons on the design of the programs.
In particular, meta regression analysis is a form of meta analysis especially designed to investigate empirical research in economics stanley and jarrell, 1989. The last essay studies the performance of the fatpetpeese fpp procedure, a commonly employed approach for addressing publication selection bias in meta regression analysis studies in economics and business. Metaanalysis in economics these are publications indexed on repec about the above topic. It can increase statistical power, correct the evidence base for a range of biases, and make sense of the flood of econometric estimates. Meta analysis is the statistical analysis of previously published, or reported, research.
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