Question: (25 points) The OECD Social Expenditure Database (SOCX) has been devel- oped in order to serve a growing need for indicators of social policy. It

 (25 points) The OECD Social Expenditure Database (SOCX) has been devel-oped in order to serve a growing need for indicators of social

(25 points) The OECD Social Expenditure Database (SOCX) has been devel- oped in order to serve a growing need for indicators of social policy. It includes reliable and internationally comparable statistics on public and (mandatory and voluntary ) private social expenditure at programme level as well as net so- cial spending indicators. See: https://www.oecd.org/els/soc/expenditure.htm On the other hand, the World Development Indicators (WDI) is the pri- mary World Bank collection of development indicators (including different poverty measures), compiled from officially recognized international sources. It presents the most current global development data available. See http://databank.worldbank.org/.(c) For the list of countries in SOCX, get and merge data on the Poverty Headcount Ratio and the Poverty Gap (at US$2.15 a day, 2017 PPP) from WDI. (c.1) Plot public social expenditure (as % of GPD) as function of the Poverty GDP Gap. Do you find a positive association? (c.1) Plot public social expenditure (as % of GPD) as function of the Poverty GDP Headcount Ratio. Do you find a positive association? (c.3) Explain the economic challenges associated with your previous re- sults

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