For this assessment you are required to apply the material from the first two weeks of the unit. You will submit your work in the form of a written report, including such results from R as you deem appropriate. You are not required to submit a file/notebook of your R workings, although you should keep a copy of your analysis. The word limit for this report is 2000 words. The dataset consists of observations on the export and foreign direct investment (FDI) flows for Germany, from 1989 to 1999, with respect to its trading partners and some related variables. The definitions are given first, then the assessment task. The variable definitions are as follows: year – the year in which the observation was made (data is annual). – a numerical code representing the industry/sector to which the observation pertains; the code does not have a quantitative meaning.– a numerical code representing the country/territory/importer to which the flows (exports and FDI) occurred; the code does not have a quantitative meaning.– the log of real bilateral exports.– the log of real bilateral outward FDI flows.– the sum of the log real GDP of the two countries.– the log of relative capital stock (exporter/importer).– log (exporter secondary school enrolment/importer secondary school enrolment).– log (labour force of exporter/labour force of importer).– log bilateral distance between exporter and importer. Given the provided data, devise and estimate an appropriate panel model with which to investigate the determinants of FDI flows (from Germany to other countries), for a single industry (it does not matter which industry code you choose). Explain/justify the model specification which you use and discuss your results. Guidelines: The word count for this assessment is 2000 words (+10%), submissions that exceed the word count will be penalised. The word count excludes footnotes and reference list. You should use the Bath Harvard Referencing System. Review the library’s website for more information on correct referencing.
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