Cheng Hsiao, H. Steve Ching, and Shui Ki Wan, "A Panel Data Approach for Program Evaluation -- Measuring the Benefits of Political and Economic Integration of Hong Kong with Mainland China", Journal of Applied Econometrics, Vol. 27, No. 5, 2012, pp. 705-740. All data are in the file hcw-data.txt, an ASCII file in DOS format that is zipped in hcw-data.zip. Unix/Linux users should use "unzip -a". The panel data used in this paper consists of 25 countries arranging in the following order: (1) Hong Kong (2) Australia (3) Austria (4) Canada (5) Denmark (6) Finland (7) France (8) Germany (9) Italy (10) Japan (11) Korea (12) Mexico (13) Netherlands (14) New Zealand (15) Norway (16) Switzerland (17) United Kingdom (18) United States (19) Singapore (20) Philippines (21) Indonesia (22) Malaysia (23) Thailand (24) Taiwan (25) China The only variable we used is quarterly real GDP growth rate, which is constructed by adjusting nominal GDP growth rates by CPI. All the data are obtained from OECD Statistics, International Financial Statistics and CEIC Database. There are 61 time series observations for each country. For the first set of results (Political Integration), quarterly real GDP growth rates from 1993Q1 to 1997Q2 are used to form the counter-factual path from 1997Q3 up to 2003Q4. Besides, only 10 countries are used. They are China, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand and US. For the second analysis (Economic Integration), quarterly real GDP growth rates of all 24 countries (Country (2) to Country (25)) from 1993Q1 to 2003Q4 are used to form counter-factual from 2004Q1 to 2008Q1.