Arbeitspapier
Economic Freedom and Economic Crisis
In this paper, I explore the politically contested association between the degree of capitalism, captured by measures of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical considerations, I estimate the effects of economic freedom on crisis risk in the post-Cold War period 1993-2010. I further estimate the effects on the duration, peak-to-trough GDP ratios and recovery times of 212 crises across 175 countries within this period. Estimates suggest that economic freedom is robustly associated with smaller peak-to-trough ratios and shorter recovery time. These effects are driven by regulatory components of the economic freedom index.
- Sprache
-
Englisch
- Erschienen in
-
Series: IFN Working Paper ; No. 1056
- Klassifikation
-
Wirtschaft
Macroeconomic Analyses of Economic Development
Institutions and Growth
Capitalist Systems: Political Economy
- Thema
-
Crisis
Economic freedom
Institutions
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bjørnskov, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Research Institute of Industrial Economics (IFN)
- (wo)
-
Stockholm
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bjørnskov, Christian
- Research Institute of Industrial Economics (IFN)
Entstanden
- 2015
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