Title: A Review of Panel Data on Spatial Econometrics Models
Abstract: Literature that discusses spatial econometrics is undergoing a very rapid development in modelling and determining parameter estimates. The modelling of relationship between variables is made in single equations and simultaneous equations. This paper presents some recent development of literatures in spatial econometrics models with panel data, both for single and simultaneous equations and the dynamic characteristics. The simultaneous equation models can accommodate the relationships among variables not only in one way, but also in two-way relationship. The dynamic effects can be used to analyze the long and short term effects of a policy. This study focuses on the specifications and parameter estimation methods of the model. This paper aims at facilitating researchers to determine the future research topics.