Convergence analysis on ten sub-indexes of economic freedom
- Authors
- Chang, Y.S.; Kim, J.H.; Kim, Y.S.
- Issue Date
- 2015
- Publisher
- Inderscience Enterprises Ltd.
- Keywords
- Beta convergence; Economic freedom indexes; Sigma convergence; Sub-indexes
- Citation
- International Journal of Public Policy, v.11, no.1-3, pp.47 - 72
- Journal Title
- International Journal of Public Policy
- Volume
- 11
- Number
- 1-3
- Start Page
- 47
- End Page
- 72
- URI
- https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/10965
- DOI
- 10.1504/IJPP.2015.068849
- ISSN
- 1740-0600
- Abstract
- The purpose of this paper is to examine the transition of ten sub-indexes of economic freedom among 130 countries in the world. The three central questions of this study are: do economic freedom sub-indexes converge? Do some sub-indexes of economic freedom display more clear-cut convergence when their index points are increasing over time? Which clusters of economic sub-indexes display faster rate of convergence? Analyses of sub-indexes of economic freedom are critical because each of these individual sub-indexes independently determines final value of the overall index. The answer to the first question varies by each specific sub-index. The answer to the second question is that countries with increasing index points display much more clear-cut convergence. As for the third question, those sub-indexes receiving high index points from large number of countries exhibit faster rate of convergence. Several policy implications are discussed in conclusion. Copyright © 2015 Inderscience Enterprises Ltd.
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