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Convergence analysis on ten sub-indexes of economic freedom

Author

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  • Yu Sang Chang
  • JiHye Kim
  • Young Soo Kim

Abstract

The purpose of this paper is to examine the transition of ten sub-indexes of economic freedom among 130 countries in the world. The three central questions of this study are: do economic freedom sub-indexes converge? Do some sub-indexes of economic freedom display more clear-cut convergence when their index points are increasing over time? Which clusters of economic sub-indexes display faster rate of convergence? Analyses of sub-indexes of economic freedom are critical because each of these individual sub-indexes independently determines final value of the overall index. The answer to the first question varies by each specific sub-index. The answer to the second question is that countries with increasing index points display much more clear-cut convergence. As for the third question, those sub-indexes receiving high index points from large number of countries exhibit faster rate of convergence. Several policy implications are discussed in conclusion.

Suggested Citation

  • Yu Sang Chang & JiHye Kim & Young Soo Kim, 2015. "Convergence analysis on ten sub-indexes of economic freedom," International Journal of Public Policy, Inderscience Enterprises Ltd, vol. 11(1/2/3), pages 47-72.
    • Handle: RePEc:ids:ijpubp:v:11:y:2015:i:1/2/3:p:47-72
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    Cited by:

    1. Scott A. Hipsher, 2021. "Tourism in Thailand: Exploitation or Opportunity?," International Journal of Asian Business and Information Management (IJABIM), IGI Global, vol. 12(3), pages 26-42, July.
    2. Jared Meyer, 2015. "Beyond Utility: Providing a Moral Foundation for Capitalism," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 30(Summer 20), pages 21-41.
    3. Xiao, Zengqi & Lam, Jasmine Siu Lee, 2022. "Effects of project-specific government involvement actions on the attractiveness of port public-private partnerships among private investors," Transport Policy, Elsevier, vol. 125(C), pages 59-69.
    4. Pandey, Vivek & Steigner, Tanja & Sutton, Ninon K., 2023. "The value of economic freedom in cross-border mergers," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 540-563.

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