Question: Using the data set Growth described in Empirical Exercise 4.4, but exclud- ing the data for Malta, carry out the following exercises. a. Construct a
Using the data set Growth described in Empirical Exercise 4.4, but exclud- ing the data for Malta, carry out the following exercises.
a. Construct a table that shows the sample mean, standard deviation, and minimum and maximum values for the series Growth, TradeShare, Years School, Oil, Rev Coups, Assassinations, RGDP60. Include the appropriate units for all entries.
b. Run a regression of Growth on TradeShare, Years School, Rev_Coups, Assassinations and RGDP60. What is the value of the coefficient on Rev Coups? Interpret the value of this coefficient. Is it large or small in a real-world sense?
c. Use the regression to predict the average annual growth rate for a country that has average values for all regressors.
d. Repeat
(c) but now assume that the country's value for TradeShare is one standard deviation above the mean.
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