STAT2000_Laureate_Assessment_Groupassignment.Docx Page 1 of 3 ASSESSMENT BRIEF Subject Code and Title STAT2000: Quantitative Analysis Assessment Group Assignment Individual/Group Group Submission By week ending 11:55pm AEST/ADST Sunday Weighting 20% Context: Research topic: Economic growth, private credit and remittances Objective: To examine the relation of economic growth with private credit and remittances Context: International Data period: 1996-2012 Data source: World Development Indicators and World Governance Indicators Instructions:STAT2000_Laureate_Assessment_Groupassignment.Docx Page 2 of 3 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 = β! + β!×Privatecredit + β!×Remittances + β!×Manufacturing + β!×Services + β! ×Foreigndirectinvestment + β! ×Workforceparticipation + β! ×Wages + β! ×Inflation + β! ×Inequality + β!"×Income + β!!× Income! + β!"×Controlofcorruption + β!"×Stability + ε (1) 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 Variables Operational definition Source Growth Annual growth of real GDP per capita WDI Privatecredit Domestic credit to private sector (% GDP) WDI Remittances Personal remittances, received (% GDP) WDI Manufacturing Manufacturing, value added (% GDP) WDI Services Services, value added (% GDP) WDI Foreigndirectinvestmen t Foreign direct investment, net inflows (% GDP) WDI Workforceparticipation Labor force/Population aged over 15 years WDI Wages Wages and salaried workers, total (% of total employed WDI Inflation Consumer price inflation WDI Inequality Gini coefficient WDI Income Real GDP per capita in the host country (1000s of constant 2005 international dollar) WDI Income2 Squared term of Income WDI Controlofcorruption Index: Control of corruption (-2.5 to 2.5) WGI Stability Index: Political stability and Absence of violence/terrorism (-2.5 to 2.5) WGIPage 3 of 3 Learning Rubrics Assessment Attributes 0-34 (Fail 2– F2) 35-49 (Fail 1 – F1) 50-64 (Pass -P) 65-74 (Credit - CR) 75-84 (Distinction – DN) 85-100 (High Distinction – HD) Unacceptable Poor Functional Proficient Advanced Exceptional Grade Description (Grading Scheme) The assignment does not even include descriptive statistics, correlation matrix and regression output. The assignment includes descriptive statistics, correlation matrix and regression output but lacks the background and objectives, hypotheses data and methodology, findings and analysis, and conclusions. The assignment includes background and objectives, data and methodology descriptive statistics, correlation matrix and regression output but lacks the hypotheses, findings and analysis, and conclusions. The assignment includes background and objectives, hypotheses, data and methodology, descriptive statistics, correlation matrix and regression output but lacks the findings and analysis, and conclusions. The assignment includes background and objectives, hypotheses, data and methodology, descriptive statistics, correlation matrix, regression output, and findings and analysis but lacks the conclusions. All the requirements of the assignment are properly addressed. These should include: 1. Background and objectives of the research 2. Hypotheses 3. Data and methodology including descriptive statistics and correlation matrix 4. Results (regression output) 5. Findings and analysis 6. Conclusions