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Assessing state business climate indexes

Author

Listed:
  • Jed David Kolko
  • Marisol Cuellar Mejia
  • David Neumark

Abstract

Indexes that rank state business climates figure prominently in debates about economic policy. But empirical evidence is rarely examined on which index factors actually correlate with economic growth. A statistical analysis suggests that state business climate indexes that focus on taxes and business costs are more closely associated with growth than indexes that measure productivity and quality of life. However, these business climate elements are less important for growth than nonpolicy factors, such as climate and population density.

Suggested Citation

  • Jed David Kolko & Marisol Cuellar Mejia & David Neumark, 2012. "Assessing state business climate indexes," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue sep4.
    • Handle: RePEc:fip:fedfel:y:2012:i:sep4:n:2012-27
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