Reference no: EM131260866
Quantitative Analysis Group Assignment
Research topic: Economic growth, private credit and remittances.
Objective: To examine the relation of economic growth with private credit and remittances.
1. Describe the data (e.g., mean, standard deviation, skewness, kurtosis, 1st quartile, median, 3rd quartile, max, and min)
2. Prepare correlation matrix
3. Report regression results
4. Write a report stating clearly the objectives of this research, background (i.e., the importance of this research), the hypothesis, analysis of your findings, and the conclusion
Methodology
We apply multiple regression analysis to estimate the following baseline model.
Growth = β0 + β1 × Private credit + β1 × Remittances + β3 × Manufacturing + β4 × Services + β5 × Foreigndirectinvestment + β6 × Workforceparticipation + β7 ×Wages + β8 × Inflation + β9 × Inequality + β10 × Income + β11 × Income2 + β12 × Control of corruption + β13 × Stability + ε
where Growth is the dependent variable. Private credit and Remittances are the research variables. Manufacturing, Services, Foreign direct investment, Workforce participation, Wages, Inflation, Inequality, Income, Income2, Control of corruption and Stability are the control variables. The variables are discussed in Table 1.
Table 1: Variable Descriptions
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Variables
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Operational definition
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Source
|
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Growth
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Annual growth of real GDP per capita
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WDI
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Privatecredit
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Domestic credit to private sector (% GDP)
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WDI
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|
Remittances
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Personal remittances, received (% GDP)
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WDI
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|
Manufacturing
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Manufacturing, value added (% GDP)
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WDI
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|
Services
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Services, value added (% GDP)
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WDI
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|
Foreigndirectinvestmen t
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Foreign direct investment, net inflows (% GDP)
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WDI
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|
Workforceparticipation
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Labor force/Population aged over 15 years
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WDI
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|
Wages
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Wages and salaried workers, total (% of total employed
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WDI
|
|
Inflation
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Consumer price inflation
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WDI
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|
Inequality
|
Gini coefficient
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WDI
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|
Income
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Real GDP per capita in the host country (1000s of constant 2005 international dollar)
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WDI
|
|
Income2
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Squared term of Income
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WDI
|
|
Controlofcorruption
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Index: Control of corruption (--2.5 to 2.5)
|
WGI
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|
Stability
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Index: Political stability and Absence of violence/terrorism (--2.5 to 2.5)
|
WGI
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Attachment:- Data.rar
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