Economic Freedom in the Long Run: Evidence from OECD Countries (1850-2007)
This paper presents historical indices for the main dimensions of economic freedom and an aggregate index for nowadays developed countries -(pre-1994) OECD, for short-. Economic liberty expanded over the last one-and-a-half centuries, reaching two thirds of its maximum possible. Its evolution has been, however, far from linear. After a substantial improvement since mid-nineteenth century, World War I brought a major setback. The post-war recovery up to 1929 was followed by a dramatic decline in the 1930s and significant progress took place during the Golden Age but fell short from the pre-World War I peak. A steady expansion since the early 1980s has resulted in the highest levels of economic liberty of the last two centuries. Each main dimension of economic freedom exhibited a distinctive trend and its contribution to the aggregate index varied over time. Nonetheless, improved property rights provided the main contribution to the long-run advancement of economic liberty.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sophia Lazaretou, 2008. "Banking and Central Banking in Pre-WWII Grecce: Money and Currency Developments," Working Papers 86, Bank of Greece.
- Ritschl Albrecht & Spoerer Mark, 1997. "Das Bruttosozialprodukt in Deutschland nach den amtlichen Volkseinkommens- und Sozialproduktsstatistiken 1901-1995," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 38(2), pages 27-54, December.
- Thomas, Ryland & Hills, Sally & Dimsdale, Nicholas, 2010. "The UK recession in context — what do three centuries of data tell us?," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 277-291.
- Karol J. Borowiecki, 2013.
"Agglomeration Economies in Classical Music,"
0047, European Historical Economics Society (EHES).
- Borowiecki, Karol J., 2013. "Agglomeration Economies in Classical Music," Discussion Papers of Business and Economics 13/2013, Department of Business and Economics, University of Southern Denmark.
- Karol J. Borowiecki, 2013. "Agglomeration Economies in Classical Music," ACEI Working Paper Series AWP-02-2013, Association for Cultural Economics International, revised Sep 2013.
- Karol Jan BOROWIECKI, 2013. "Agglomeration Economies in Classical Music," Trinity Economics Papers tep0213, Trinity College Dublin, Department of Economics.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2010.
"From Financial Crash to Debt Crisis,"
NBER Working Papers
15795, National Bureau of Economic Research, Inc.
- Huberman, Michael & Lewchuk, Wayne, 2003.
"European economic integration and the labour compact, 1850 1913,"
European Review of Economic History,
Cambridge University Press, vol. 7(01), pages 3-41, April.
- Michael Huberman & Wayne Lewchuk, 2002. "European Economic Integration and the Labour Compact, 1850-1913," CIRANO Working Papers 2002s-34, CIRANO.
- Sophia Lazaretou, 2009. "Money supply and Greek history monetary statistics: definition, construction, sources and data," Working Papers 105, Bank of Greece.
- Sophia LAZARETOU, 2010. "Money Supply and Greek Historical Monetary Statistics: Definition, Construction, Sources and Data," Economies et Sociétés (Serie 'Histoire Economique Quantitative'), Association Française de Cliométrie (AFC), issue 41, pages 47-68, January.
- Dennis P. Quinn & A. Maria Toyoda, 2008. "Does Capital Account Liberalization Lead to Growth?," Review of Financial Studies, Society for Financial Studies, vol. 21(3), pages 1403-1449, May.
When requesting a correction, please mention this item's handle: RePEc:hes:wpaper:0054. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paul Sharp)
If references are entirely missing, you can add them using this form.