Economic freedom studies: a survey

Hall, Joshua C.; Stansel, Dean; Tarabar, Danko

doi:10.4337/9781784718237.00009

Cited by 17 publications

(7 citation statements)

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“…These studies document that it is more prevalent for economic freedom to be substantially associated with ‘good’ outcomes, such as faster growth, better living standards and happiness, while evidence of an association of economic freedom with ‘bad’ outcomes, such as increased income inequality, is not uncommon. A number of recent and significant survey papers provide detailed evidence on the impact of economic freedom on the above mentioned economic variables (Gwartney et al ., ; Doucouliagos, ; De Haan et al ., ; Gwartney and Lawson, ; Rode and Coll, ; Hall and Lawson, ; Hall et al ., ; among others).…”

Section: Introductionmentioning

confidence: 91%

Economic Freedom and Income Inequality: Evidence from a Panel of Global Economies— A Linear and a Non‐Linear Long‐Run Analysis

Apergis

Cooray

2015

The Manchester School

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This study employs panel data from 138 countries (with unbalanced time frameworks) to investigate the relationship between economic freedom and income inequality. Both linear and non‐linear cointegration methodologies are used to identify a long‐run equilibrium relationship between: (i) the overall Economic Freedom of the World index and income inequality, and (ii) the major areas of the index and income inequality. The linear long‐run parameter estimates document that the association turns out to be negative, while the non‐linear long‐run parameter estimates illustrate that above a threshold point the association between economic freedom and income inequality is negative, while below this threshold point, the association turns out to be positive. The empirical findings survive a number of robustness tests, such as alternative measures of income inequality.

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Section: Introductionmentioning

confidence: 91%

Economic Freedom and Income Inequality: Evidence from a Panel of Global Economies— A Linear and a Non‐Linear Long‐Run Analysis

Apergis

Cooray

2015

The Manchester School

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“…Hall and Lawson (2014) provide an accounting of hundreds of journal articles using the Fraser Institutes Economic Freedom of the World (EFW) index (Gwartney, Lawson, and Hall 2014) and show that in fewer than 5% of cases is economic freedom negatively related to "good" outcomes or positively related to "bad" outcomes. 2 While a recent survey by Hall, Stansel, and Tarabar (2015) shows that the same is generally true for articles using the Fraser Institutes EFNA, the relative homogeneity of U.S. states often leads to less straightforward results. For example, Apergis, Dincer, and Payne (2014) find bidirectional causality between economic freedom and income inequality across U.S. states.…”

Section: Economic Freedom and Economic Outcomesmentioning

confidence: 99%

Economic Freedom and Exercise: Evidence from State Outcomes

Hall¹,

Humphreys²,

Ruseski³

2018

Southern Economic Journal

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Exercise is an important part of a healthy lifestyle and influences a variety of health outcomes. Regions vary in their levels of exercise due to geography, climate, culture, and policy. The extent to which a country's policies are consistent with economic freedom has been found to be positively associated with greater participation in physical activity. We empirically investigate the relationship between economic freedom and exercise across U.S. states. Contrary to the cross‐country results, we find that states with higher levels of economic freedom have lower rates of participation in exercise.

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“…Thus, it is a good measure of institutional quality to use for the examination of the hypothesis that autocrats can increase their wealth by imposing economically unproductive institutions. Literature reviews by Berggren (2003) andDe Haan, Lundstrom, andSturn (2006) show that countries with higher-quality economic institutions as measured by the EFW index, have higher per capita incomes, and countries that improve their economic freedom as measured by the index have higher rates of economic growth. Subsequent studies, such as Faria and Montesinos (2009), have reaffirmed the positive impact of market institutions.…”

Section: Data On the Wealth Of Autocrats And Institutional Qualitymentioning

confidence: 99%

Institutional quality and the wealth of autocrats

Boudreaux

Holcombe

2017

Eur J Gov Econ

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One frequently given explanation for why autocrats maintain corrupt and inefficient institutions is that the autocrats benefit personally even though the citizens of their countries are worse off. The empirical evidence does not support this hypothesis. Autocrats in countries with low-quality institutions do tend to be wealthy, but typically, they were wealthy before they assumed power. A plausible explanation, consistent with the data, is that wealthy individuals in countries with inefficient and corrupt institutions face the threat of having their wealth appropriated by government, so have the incentive to use some of their wealth to seek political power to protect the rest of their wealth from confiscation. While autocrats may use government institutions to increase their wealth, autocrats in countries with low-quality institutions tend to be wealthy when they assume power, because wealthy individuals have the incentive to use their wealth to acquire political power to protect themselves from a potentially predatory government.

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Economic freedom studies: a survey

Cited by 17 publications

References 0 publications

Economic Freedom and Income Inequality: Evidence from a Panel of Global Economies— A Linear and a Non‐Linear Long‐Run Analysis

Economic Freedom and Income Inequality: Evidence from a Panel of Global Economies— A Linear and a Non‐Linear Long‐Run Analysis

Economic Freedom and Exercise: Evidence from State Outcomes

Institutional quality and the wealth of autocrats

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