Economic Freedom and Unemployment around the World
AbstractUsing data from 87 countries and the years 1980–2003, this paper empirically analyzes whether and to what extent economic freedom affects unemployment. According to the regression results, economic freedom is likely to substantially reduce unemployment, especially among women and young people. A small government sector and a legal system characterized by an independent judiciary, impartial courts, and an effective protection of property rights most clearly seem to have beneficial effects. In addition, there are indications that freedom to trade across national boundaries and a light regulatory burden may also lower unemployment, though apparently in the long term only.
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Bibliographic InfoArticle provided by Southern Economic Association in its journal Southern Economic Journal.
Volume (Year): 74 (2007)
Issue (Month): 1 (July)
Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
- H10 - Public Economics - - Structure and Scope of Government - - - General
- J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy
- L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
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- Horst Feldmann, 2012. "Product Market Regulation and Labor Market Performance around the World," LABOUR, CEIS, CEIS, vol. 26(3), pages 369-391, 09.
- Chortareas, Georgios E. & Girardone, Claudia & Ventouri, Alexia, 2013. "Financial freedom and bank efficiency: Evidence from the European Union," Journal of Banking & Finance, Elsevier, Elsevier, vol. 37(4), pages 1223-1231.
- Josef C Brada & Marcello Signorelli, 2012. "Comparing Labor Market Performance: Some Stylized Facts and Key Findings," Comparative Economic Studies, Palgrave Macmillan, vol. 54(2), pages 231-250, June.
- Giovanni S.F. Bruno & Misbah T. Choudhry & Enrico Marelli & Marcello Signorelli, 2014. "Youth Unemployment: Key Determinants and the Impact of Crisis," AIEL Series in Labour Economics, AIEL - Associazione Italiana Economisti del Lavoro, in: Dario Sciulli & Miguel Ángel Malo (ed.), Disadvantaged Workers, edition 1, chapter 7, pages 121-148 AIEL - Associazione Italiana Economisti del Lavoro.
- Feldmann, Horst, 2009. "The unemployment effects of labor regulation around the world," Journal of Comparative Economics, Elsevier, vol. 37(1), pages 76-90, March.
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