The Relationship Between Economic Growth and Alcohol Сonsumption

Student: Gorbunova Elena

Educational Programme: Economics (Bachelor)

Year of Graduation: 2021

This paper investigates the relationship between alcohol consumption and economic cycle, using country-level data. The relationship is investigated on macroeconomic factors. Overall, the dataset includes 177 countries and the information from 1960 till 2020. The initial question of the work is whether the relationship differs if the countries have different income level. As well as if the type of alcohol affects that relationship. To divide countries into groups k means clustering was used and to investigate the effect of independent factors regression analysis for panel data was conducted. The results have shown that the alcohol consumption among all countries is procyclical. The alcohol type is also important to bear in mind, because the relationship for beer wine and spirits is not always strongly procyclical, only beer shows such dependency

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