Proceedings

Minimum of 39.1 to a Maximum of 95.5. Standard Deviation of 12.83, shows that the
data are relatively homogeneous. Skewness is -0.59, Kurtosis 2.61, Jarque-Bera 9.63,
which are values close to those of a normal distribution (0 and 3, respectively) (Figure
1). For data series describing the GDP per capita Mean is 13.22, the values ranging
from a Minimum of 0.14 and a Maximum of 117.95. Standard Deviation of 20.06,
suggests a wider range of values for this series of data. Skewness is 2.29, Kurtosis
9.05, Jarque-Bera 351.83 (Figure 2), indicating that the normal distribution of data
series is missing.
The Skewness indicator is a statistical parameter measuring the lack of symmetry (the
symmetry of a distribution requires that this latter has be symmetrical to the central
point). The value of this indicator close to 0 indicates the existence of a normal
distribution of the analyzed data series. Values significantly different from 0 (positive
or negative) reflect the degree of remoteness from the normal distribution.
The Kurtosis indicator measures to see if the elements of a series are close or far from
the normal distribution. A high value of this indicator (in our case for our series GDP
per capita) indicates that the data series has a distinct peak from the average.
A "link" between these two indicators is shown by the Jarque-Bera statistics test,
which measures the degree of closeness to normality. The normal distribution
measures the extent to which a statistical model fits with the observed data series.
Testing the null hypothesis with the help of the Jarque-Bera test indicates null values
of the Skewness and Kurtosis parameters.
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0
Figure 1. Data analysis for EPI series (Histogram and stats)
40 50 60 70 80 90
~ 1081 ~
Series: EPI
Sample 1 146
Observations 146
Mean 71.87466
Median 74.60000
Maximum 95.50000
Minimum 39.10000
Std. Dev. 12.83647
Skewness -0.599122
Kurtosis 2.615645
Jarque-Bera 9.633055
Probability 0.008095
Figure 2. Data analysis for GDPC series (Histogram and stats)
0
0 20 40 60 80 100 120
Series: GDPC
Sample 1 146
Observations 146
Mean 13.22144
Median 4.215000
Maximum 117.9500
Minimum 0.140000
Std. Dev. 20.06073
Skewness 2.298092
Kurtosis 9.058982
Jarque-Bera 351.8367
Probability 0.000000
The deterministic relationship between the two data series expresses the dependency
between the dependent variable – EPI - at the macroeconomic level and the
independent variable - GDP per capita (Figures 3 and 4).