GDP growth is always treated as one of the key factors in decision-making, and private investment strategies usually depend on the long-term growth rate. This project will focus on the GDP growth of two countries, which are Germany and Thailand, and analyse their growth pattern by the Bayesian approach. Furthermore, two different assumptions, which focus on whether the GDP growth is stationary or not, will be checked and compared. Finally, suggestions about investment in these two countries will also be given based on their GDP growth rates.
PS: AR1_nonstat.R and AR1_stationary.R are provided by the module.