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Institutions and Human Progress: An Analysis of International Pooled Data

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  • Nathan J Ashby

    (Department of Economics and Finance, University of Texas at El Paso, El Paso TX 79968, USA.)

Abstract

This study investigates the impact of the components of economic freedom (Economic Freedom of the World Index, EFW) on improvements in well-being using pooled data of 105 countries spaced at 5-year intervals between 1990 and 2000. The EFW as well as other control variables are regressed on the log-odds ratios of the Index of Human Progress (IHP), a measurement of progress constructed by the Fraser Institute, and its components. Extreme bound analysis demonstrates that countries with a higher quality of government, well-defined property rights, sound money, limited trade restrictions, and limited regulation experience higher levels of human progress as measured by the IHP. Eastern Economic Journal (2009) 35, 396–414. doi:10.1057/eej.2008.28

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Eastern Economic Journal.

Volume (Year): 35 (2009 Summer)
Issue (Month): 3 ()
Pages: 396-414

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Handle: RePEc:pal:easeco:v:35:y:2009:i:3:p:396-414

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