Research Plan

Research using world development indicators

Module: ECON7030
University Name
Student Name
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 • World development indicators are used to assess the economic, social, and
INTRODUCTIO environmental progress of countries around the world. The study of these
indicators is essential for understanding the global trends and identifying the
N areas where improvements can be made. Therefore, research using world
development indicators is a significant topic that deserves attention.

• Statistics on the state of development throughout the world can be found in

the World Bank's World Development Indicators (WDI) collection. The
dataset contains a vast range of indicators, including demographics,
economics, education, health, environment, and more. Researchers, policy
makers use the dataset, and analysts to identify trends, monitor progress, and
inform decision-making. This research plan will outline how the WDI can be
used to conduct research on global development.
Significance of The study of world development indicators is significant because
it provides a comprehensive picture of a country's economic,
social, and environmental progress, helping policymakers assess
the Study economic progress, identify development priorities, make
evidence-based decisions, and measure the impact of policies and
programs.

This information can be used to allocate resources effectively and

implement targeted interventions to improve a country's
development outcomes.
 RESEARCH QUESTIONS

Question 1 Question 2 Question 3

To what extent do poor and Is it true that trade liberalization Does outside assistance help
middle-income nations benefit aids developing and middle- economies expand in developing
from investment, education, and
income nations? and transitioning nations?
high-quality institutions, and how
does this affect economic growth?
 Reason 1
It will use advanced statistical methods to identify the factors that
are most strongly associated with economic, social, and
environmental progress.
Reason 2
It will explore new areas of inquiry, such as the relationship between
environmental sustainability and economic growth or the impact of
Why this research social policies on poverty reduction.
Reason 3
is innovative? It will integrate data from multiple sources to provide a more
comprehensive and nuanced understanding of development
outcomes.
Reason 4
This research can be innovative in its approach to
dissemination, using new technologies and platforms to reach a
wider audience and engage with stakeholders.
 Feasibility of Research

1. There is a wealth of data available on world development indicators, which can be

accessed through public databases such as the World Bank's World Development
Indicators or the United Nations' Human Development Index.
2. Many of these databases are regularly updated, providing researchers with access to
the most recent data.
3. There are many statistical software like Stata and programming languages available
that will be used to analyze this data.
4. The research will be conducted remotely, allowing for flexibility in terms of location
and reducing the need for travel.
5. With careful planning and the use of appropriate resources, research using world
development indicators can be successfully implemented within a reasonable time
frame.
 Broader context Literature Review
1. The relationship between trade liberalization and economic
development in developing and middle-income nations has also been
thoroughly researched. Researchers Nyanzu and Ocran (2019)
concluded that freer trade led to greater prosperity in Ghana.
Research Gap
2. World Development Indicators 2020" by the World Bank Group: This
1. There is a need for more research on the impact of
paper provides a comprehensive overview of global development trends
economic policies on development outcomes,
and indicators, including poverty, health, education, and environment.
particularly in low-income countries.
3. Education, together with investment and strong institutions, has been
2. There is a need for more research on the relationship
proven to be a key driver of economic development in low- and middle-
between social policies and development outcomes,
income nations. Khan and Batool (2015) did research on the correlation
such as the impact of healthcare and education on
poverty reduction. between education and economic development in Pakistan and

3. There is a need for more research on the relationship discovered a favorable correlation.

between environmental sustainability and economic 4. Brundtland Report: Our Common Future" published by the United
growth, including the potential trade-offs between the Nations in 1987, which introduced the concept of sustainable

two. development.
 Empirical strategy
To examine the relationship between investment, education, high-quality
institutions, and economic growth in poor and middle-income nations, a multiple
regression analysis using World Development Indicators data can be conducted.

To determine whether trade liberalization helps developing and middle-income

nations, a difference-in-difference analysis using World Trade Organization and
World Bank data can be performed.

To assess whether outside assistance helps economies in developing and

transitioning nations expand, a panel regression analysis using World
Development Indicators and foreign aid data can be conducted.
Empirical Multiple regression analysis will be used to investigate the connection
between capital expenditures, levels of education, the strength of

Models
government, and GDP expansion.
GDP growth = β0 + β1Investment + β2Education + β3Institutional quality
+ε

A second multiple regression analysis will be performed to investigate the

connection between trade liberalization and GDP growth.
GDP growth = β0 + β1Trade openness + ε

Lastly, a multiple regression analysis will be performed to determine how

well foreign assistance has been in stimulating economic expansion.
GDP growth = β0 + β1Foreign aid + β2Institutional quality + β3Good
Regression Models
governance + ε
 Research Contribution
It can identify the factors that are most strongly associated with economic, social, and
environmental progress, and help policymakers focus their development efforts on these
areas.
It can provide evidence to support policymaking, helping to ensure that decisions are based on
objective data rather than subjective opinions.

It can help to measure the impact of policies and programs, enabling policymakers to evaluate
the effectiveness of their interventions and make adjustments as needed.

This research can contribute to the broader literature on development, providing insights
that can inform future research and policy.
 Khan, A. Q., & Batool, I. (2015). Impact of education on
economic growth in Pakistan. Pakistan Journal of Social Sciences
(PJSS), 35(2), 1039-1055.

References Nyanzu, F. E., & Ocran, M. K. (2019). Trade openness and

economic growth in Ghana: An empirical analysis. Journal of
Economic Studies, 46(5), 971-986.

World Bank Group. (2020). World Development Indicators 2020.

Washington, DC: World Bank Group.

World Commission on Environment and Development. (1987).

Our Common Future. Oxford: Oxford University Press.