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Ranking the Economic Freedom of North America using dominetrics

Author

Listed:
  • Joshua Hall

    (Beloit College)

  • David Yu

    (Beloit College)

Abstract

The Economic Freedom of North America is a widely used political economy indicator related to outcomes such as entrepreneurship, equity prices, housing prices, and migration. As a result, relative rankings are often mentioned in policy discussions. The ranking of regions based on economic freedom, however, involves many layers of subjectivity. We employ a ranking methodology called ‘dominetrics' to remove one layer of subjectivity. Doing so creates six rankings reflecting different importance orderings of the underlying spheres of economic freedom. Our results show that preferences regarding which components of economic freedoms are most important influence final rankings.

Suggested Citation

  • Joshua Hall & David Yu, 2012. "Ranking the Economic Freedom of North America using dominetrics," Economics Bulletin, AccessEcon, vol. 32(3), pages 1949-1961.
    • Handle: RePEc:ebl:ecbull:eb-12-00210
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    File URL: http://www.accessecon.com/Pubs/EB/2012/Volume32/EB-12-V32-I3-P189.pdf
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    References listed on IDEAS

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    7. Russell Sobel & J. Clark & Dwight Lee, 2007. "Freedom, barriers to entry, entrepreneurship, and economic progress," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 20(4), pages 221-236, December.
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    Cited by:

    1. Joshua C. Hall & Dean Stansel & Danko Tarabar, 2015. "Economic Freedom Studies at the State Level: A Survey," Working Papers 15-07, Department of Economics, West Virginia University.
    2. Scott Beaulier & Robert Elder & Cheryl Han & Joshua C. Hall, 2016. "An ordinal ranking of economic institutions," Applied Economics, Taylor & Francis Journals, vol. 48(26), pages 2482-2490, June.

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    More about this item

    Keywords

    Dominetrics; Rankings; Economic Freedom;
    All these keywords.

    JEL classification:

    • H1 - Public Economics - - Structure and Scope of Government
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

    Statistics

    Access and download statistics

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