Initial Empirical Analysis
The paper will research the economic project, which looks into the effect of the median income in the determination of crime. therefore, the paper will look into the literature review, the model section and empirical results. The other part of the report shall look into the data to be used in the sample study. Finally, the paper will consider the empirical results, which include, regression results for at least one given model. Consequently, the paper will provide interpretation and discussion of the results obtained from the regression models.
The hypothesis of the project involves that an economy is able to affect the crime rate. In other words, the paper will test to see if the economic conditions are able to affect the crime rates for citizen. As a result, there are several variables that will be evaluated in the model to determine the stand in the above hypothesis. The variables include, economics(median income), unemployment rate, race, and age. The types of crimes that are violent crimes and property crimes.
there is the evaluation of the past studies that have been done and they are apparently similar or related to the current study. According to Goulas and Zervoyianni, (Zervoyianni, 2013) they argue that where is increased crime rates there’s an asymmetrical impact on the development in the economy. As seen, the report looks at the other angle of crime affecting economics and hence provides insights on the counterargument that can be developed in the research.
The other paper that we can refer to the argument by Randi and Lance (Lochner, 2012), that propose that the education levels are far more impactful on the crime than ever considered. They argue that the initial policies to eradicate crime focus on the punishment and retribution instead of embarking on education policies that can be more efficient in the determination of lower crime levels. They conclude that there is very close correlation of the crime and the education levels of a particular set of population statistics.
The other research paper that is relevant in the study is the discussion by Benjamin, Manish and Nair (Benjamin Powell, 2010). This is a similar paper to the analysis we had in the first paper. The counterargument that the crime is the variable that relates to the economy. They are of opinion that certain crimes such as corruption can both increase or decrease economic growth. However, the comparison between the different nations was difficult, owing to the fact that it is difficult to ascertain what is crime in one nation and what is crime in another nation. This was the biggest challenge in the research.
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