This chapter presents the empirical findings of the research. With the backdrop of the afore discussed operationalization’s strategies, several analyses, including sensitivity checks have been performed to test the theoretical conjectures elaborated in Chapter 3. While some results are rather meagre and unsatisfactory, the analyses demonstrate strong support for most of the theoretical arguments. The presentation of the empirical results will unfold as follows. First, descriptive statistics about both the sample and the variables will be presented. Second, model results will exhibit the extent to which the theoretical conjectures stand the empirical test. Last, several sensitivity checks will be discussed in order to assess the robustness of the results.
KeywordsRisky Asset Unskilled Worker Debt Ratio Common Method Bias Relative Risk Aversion
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