Steady state economic freedom

• Ryan H Murphy ^[1]
  1. [1] Southern Methodist University

     Southern Methodist University

     Estados Unidos

     
• Localización: Economics and Business Letters, ISSN-e 2254-4380, Vol. 12, Nº. 2, 2023, págs. 132-136
• Idioma: inglés
• Enlaces
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• Resumen

  • 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.