International Trade assignment
$10-30 AUD
Paid on delivery
1. Obtain country-level data on imports of goods and services (in current US$), exports of goods and services (in current US$), GDP (in current US$), GDP per capita (in current US$), and the GINI index from the World Bank’s World Development Indicators ([login to view URL]).
2. For simplicity, use data measured in current US dollars ($) as indicated above. Note that the GINI Coefficient is an index and not measured as a currency. The GINI Coefficient will only be used in Assignment 2.
3. Pick data ranging from 1985-2010. Note some observations may be missing for some years (especially for GINI index). That is still OK, continue to select all years (including the missing ones) to do your calculations.
4. DO NOT attach Excel files to the assignment.
5.
________________________________________
The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. The Gini index provides a convenient summary measure of the degree of inequality.
*** See Chapter 6 for references.
ANSWER THESE QUESTIONS:
6. Using data from Canada and Mexico, calculate the correlation coefficient (using CORREL command in excel) between Openness and the GINI Index for each nation. Report and interpret this relationship in up to 100 words. [Hint: the GINI is often used as a proxy for the ratio of skilled to unskilled wages in empirical studies]. (8 marks)
7. Explain in up to 200 words the Heckscher-Ohlin theorem and the Stolper-Samuelson theorem (use a diagram). (7 marks)
8. Explain in up to 200 words whether your data agrees or disagrees with the Stolper-Samuelson theorem. (5 marks)
Project ID: #13997624
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