Steady state economic freedom

Authors

  • Ryan H Murphy Southern Methodist University

DOI:

https://doi.org/10.17811/ebl.12.2.2023.132-136

Keywords:

Economic Freedom, Neoliberalism, Economic Liberalization

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.

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Published

13-07-2023

How to Cite

Murphy, R. H. (2023). Steady state economic freedom. Economics and Business Letters, 12(2), 132–136. https://doi.org/10.17811/ebl.12.2.2023.132-136

Issue

Vol. 12 No. 2 (2023): June

Section

Articles

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