2016

Economic Freedom and Economic Crises

Särtryck nr 2016:59

Författare: Christian BjørnskovÅr: 2016 Publikation: European Journal of Political Economy Årgång (nr): 45 (December) Sidor: 11–23
Preliminär version

Economic Freedom and Economic Crises Christian Bjørnskov


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 crises. 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.


Referens:
Bjørnskov, Christian (2016), "Economic Freedom and Economic Crises". European Journal of Political Economy 45(December), 11–23.

Christian Bjørnskov

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Tel: +45 87 16 48 19
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chbj@econ.au.dk

Aktuell forskare

Henrik Jordahl

Forskningsområden: Skattefinansierade tjänster, privatiseringar samt väljarbeteende.

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