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An Economic Freedom Index for U.S. Metropolitan Areas

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  • Stansel, Dean B.

Abstract

This paper is the first attempt to produce an economic freedom index for local economies in the U.S. It provides a more comprehensive measure of the restrictions government places upon economic freedom compared to simple fiscal measures like total government spending or revenue. That makes it a valuable tool for a wide variety of researchers seeking to investigate the impact of government upon society, including regional economists and researchers in state and local public finance. The two economic freedom indices of nations have stimulated a large body of such research. There are several similar indices that provide the same tool for those examining state governments. Like the other two sets of indices, higher levels of local economic freedom are found to be correlated with positive economic outcomes such as higher per capita income and lower unemployment.

Suggested Citation

  • Stansel, Dean B., 2013. "An Economic Freedom Index for U.S. Metropolitan Areas," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 43(1).
    • Handle: RePEc:ags:jrapmc:243944
    DOI: 10.22004/ag.econ.243944
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    References listed on IDEAS

    as
    1. Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64(5), pages 416-416.
    2. Nathan J. Ashby, 2007. "Economic Freedom and Migration Flows between U.S. States," Southern Economic Journal, John Wiley & Sons, vol. 73(3), pages 677-697, January.
    3. Dean Stansel, 2011. "Why Some Cities Are Growing and Others Shrinking," Cato Journal, Cato Journal, Cato Institute, vol. 31(2), pages 285-303, Spring/Su.
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