IDEAS home Printed from https://ideas.repec.org/a/ove/journl/aid18957.html
   My bibliography  Save this article

Steady state economic freedom

Author

Listed:
  • Ryan H Murphy

Abstract

This note projects forward into the distant future the number of countries existing under regimes of different levels of economic liberalism by deriving a transition probability matrix from Economic Freedom of the World data. Naively extrapolating trends from 1970-2020 suggests a modest majority of 165 countries will be economically free in the long-run steady state, with results driven by improvements in variables associated with the freedom to trade internationally and especially the quality of the legal system and property rights.

Suggested Citation

  • Ryan H Murphy, 2023. "Steady state economic freedom," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 132-136.
    • Handle: RePEc:ove:journl:aid:18957
    as

    Download full text from publisher

    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/18957
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Russell S. Sobel & Christopher J. Coyne, 2011. "Cointegrating Institutions: The Time-Series Properties of Country Institutional Measures," Journal of Law and Economics, University of Chicago Press, vol. 54(1), pages 111-134.
    2. Andrews, Matt & Pritchett, Lant & Woolcock, Michael, 2017. "Building State Capability: Evidence, Analysis, Action," OUP Catalogue, Oxford University Press, number 9780198747482.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shruti Rajagopalan & Alex Tabarrok, 2021. "Simple rules for the developing world," European Journal of Law and Economics, Springer, vol. 52(2), pages 341-362, December.
    2. Michelle Albert Vachris & Justin P. Isaacs, 2017. "The Role of Cultural Values in the Formation and Survival of Pro-Growth Institutions," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 32(Spring 20), pages 89-113.
    3. Focacci, Chiara Natalie & Kovac, Mitja & Spruk, Rok, 2023. "Ethnolinguistic diversity, quality of local public institutions, and firm-level innovation," International Review of Law and Economics, Elsevier, vol. 75(C).
    4. Hakiman, Kamran & Sheely, Ryan, 2023. "Unlocking the Potential of Participatory Planning: How Flexible and Adaptive Governance Interventions Can Work in Practice," OSF Preprints kucjs, Center for Open Science.
    5. Matt Andrews, 2022. "This is How to Think About and Achieve Public Policy Success," CID Working Papers 413, Center for International Development at Harvard University.
    6. Eduardo Levy Yeyati, 2019. "What Works for Active Labor Market Policies?," CID Working Papers 358, Center for International Development at Harvard University.
    7. Matt Andrews & Tim McNaught & Salimah Samji, 2018. "Opening Adaptation Windows onto Public Financial Management Reform Gaps in Mozambique," CID Working Papers 341, Center for International Development at Harvard University.
    8. Chhibber, Ajay, 2021. "India's Interventionist State: Reduce Its Scope and Increase Its Capability," MPRA Paper 105711, University Library of Munich, Germany, revised 01 Feb 2021.
    9. David Carment & Yiagadeesen Samy, 2023. "Aid effectiveness in fragile and conflict-affected contexts: Lessons from more than two decades of research," WIDER Working Paper Series wp-2023-8, World Institute for Development Economic Research (UNU-WIDER).
    10. Alaerts, G.J., 2020. "Adaptive policy implementation: Process and impact of Indonesia’s national irrigation reform 1999–2018," World Development, Elsevier, vol. 129(C).
    11. Martin Rode, 2022. "The institutional foundations of surf break governance in Atlantic Europe," Public Choice, Springer, vol. 190(1), pages 175-204, January.
    12. Erick Elysio Reis Amorim & Monique Menezes & Karoline Vitória Gonçalves Fernandes, 2022. "Urban Living Labs and Critical Infrastructure Resilience: A Global Match?," Sustainability, MDPI, vol. 14(16), pages 1-20, August.
    13. Aruna Sharma & James Copestake & Michelle James, 2021. "The Samagra anti‐poverty programme in Madhya Pradesh: Integrating household data, overcoming silo‐problems and leaving nobody behind," Development Policy Review, Overseas Development Institute, vol. 39(3), pages 435-449, May.
    14. Federico Podestà, 2023. "Studying the Welfare State by Analysing Time-Series-Cross-Section Data," FBK-IRVAPP Working Papers 2023-03, Research Institute for the Evaluation of Public Policies (IRVAPP), Bruno Kessler Foundation.
    15. Vincent Canwat, 2023. "Political economy of COVID-19: windows of opportunities and contestations in East Africa," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-16, December.
    16. Nathaniel Mason & Charles Oyaya & Julia Boulenouar, 2020. "Reforming urban sanitation under decentralization: Cross‐country learning for Kenya and beyond," Development Policy Review, Overseas Development Institute, vol. 38(1), pages 42-63, January.
    17. Evan Rosevear & Michael Trebilcock & Mariana Mota Prado, 2021. "The New Progressivism and its implications for institutional theories of development," Development Policy Review, Overseas Development Institute, vol. 39(4), pages 644-664, July.
    18. Ryan H. Murphy & Colin O’Reilly, 2019. "Applying panel vector autoregression to institutions, human capital, and output," Empirical Economics, Springer, vol. 57(5), pages 1633-1652, November.
    19. Gordon Peake & Miranda Forsyth, 2022. "Street‐level bureaucrats in a relational state: The case of Bougainville," Public Administration & Development, Blackwell Publishing, vol. 42(1), pages 12-21, February.
    20. Alexia Lochmann, 2022. "Diagnosing Drivers of Spatial Exclusion: Places, People, and Policies in South Africa’s Former Homelands," CID Working Papers 140a, Center for International Development at Harvard University.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ove:journl:aid:18957. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Francisco J. Delgado (email available below). General contact details of provider: https://edirc.repec.org/data/deovies.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.