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Political systems, regime memory, and economic freedom

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  • Peter Calcagno
  • Beatriz Maldonado
  • Todd Nesbit
  • Mary Frances Zeager

Abstract

We expand on the economic research about regime types, culture, institutions, and economic freedom, with the development of a unique measure of regime memory and examine the generational effect of past regimes on a country's level of economic freedom. Using a panel of 144 countries between 1970 and 2015 we follow the literature and argue that institutions can be fast and slow‐moving. We find evidence that regime memory promotes improvements in (discourages) economic freedom for countries that are historically democratic (autocratic).

Suggested Citation

  • Peter Calcagno & Beatriz Maldonado & Todd Nesbit & Mary Frances Zeager, 2024. "Political systems, regime memory, and economic freedom," Contemporary Economic Policy, Western Economic Association International, vol. 42(2), pages 336-354, April.
    • Handle: RePEc:bla:coecpo:v:42:y:2024:i:2:p:336-354
    DOI: 10.1111/coep.12635
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