Gini coefficient and hypothetical gini values

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Reference no: EM1311403

First explain what the Gini coefficient is and what hypothetical Gini values of 0 and 1 mean. Sort the data by the Gini coefficient in 2000 and look at the list of countries. Next describe the distribution of inequality across countries with a histogram and with text. Report the average Gini coefficient in 2000 and the standard deviation for all the countries in the data. Plot a scatter plot of Gini coefficients on GDP growth between 1970 and 2000, where growth is on the X-axis and gini00 is on the Y-axis. To do this, you'll have to create a new variable for this growth rate.

Then, explain the Kuznets hypothesis. What does the theory predict? Next produce a scatterplot using data from the year 2000 to determine whether the evidence in that year is consistent with the theory. (Hint: to produce this graph use the "lowess" command instead of the "scatter" command that we usually use). Does the hypothesis appear to be corroborated by the data? Explain your reasoning fully.

Reference no: EM1311403

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