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.
References listed on IDEAS
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.:
- Karol Jan BOROWIECKI, 2013.
"Agglomeration Economies in Classical Music,"
Trinity Economics Papers
tep0213, Trinity College Dublin, Department of Economics.
- 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 J. Borowiecki, 2013. "Agglomeration Economies in Classical Music," Working Papers 0047, European Historical Economics Society (EHES).
- Sophia Lazaretou, 2009. "Money supply and Greek history monetary statistics: definition, construction, sources and data," Working Papers 105, 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.
- Michael Huberman & Wayne Lewchuk, 2002.
"European Economic Integration and the Labour Compact, 1850-1913,"
CIRANO Working Papers
- 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.
- Sophia Lazaretou, 2008. "Banking and Central Banking in Pre-WWII Grecce: Money and Currency Developments," Working Papers 86, Bank of Greece.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2010.
"From Financial Crash to Debt Crisis,"
NBER Working Papers
15795, National Bureau of Economic Research, Inc.
- 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.
- 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.
- 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 you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.