On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries
<p>In this paper we study the effect of economic freedom on output per worker using a panel least square estimation methodology for a sample of 14 Asia-Pacific (APAC) and 18 OECD countries over the 1980-2014 period. This methodology allows us not only to study the relationship between the econ...
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| Format: | Article |
| Language: | English |
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EconJournals
2019-11-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://www.econjournals.com/index.php/ijefi/article/view/8252 |
| _version_ | 1797918107026587648 |
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| author | Noha Emara Loreto Reyes Rebolledo |
| author_facet | Noha Emara Loreto Reyes Rebolledo |
| author_sort | Noha Emara |
| collection | DOAJ |
| description | <p>In this paper we study the effect of economic freedom on output per worker using a panel least square estimation methodology for a sample of 14 Asia-Pacific (APAC) and 18 OECD countries over the 1980-2014 period. This methodology allows us not only to study the relationship between the economic freedom and output per worker in APAC countries but also compare it with the empirical association between economic freedom and output per worker observed in OECD countries. The study also investigates the role of governance in affecting the impact of economic freedom on output per worker and its components. Our results indicate that 1) economic freedom has a positive and statistically significant impact on output per worker when we consider all countries in the sample and control for country-and time- fixed-effects. 2) A country’s economic freedom has a on its positive and statistically significant impact on its output per worker, but this effect higher for OECD countries than for APAC countries. 3) For APAC countries, a country’s size of government, legal system, and regulation has a positive and statistically significant impact on its output per worker.</p><h2><strong>Keywords:</strong> APAC; Economic Freedom; Political Freedoms; Productivity; Corruption</h2><p><strong>JEL Classifications:</strong> O16; O43; N20</p><p>DOI: <a href="https://doi.org/10.32479/ijefi.8252">https://doi.org/10.32479/ijefi.8252</a></p> |
| first_indexed | 2024-04-10T13:24:05Z |
| format | Article |
| id | doaj.art-e829747613c04de9a088436744a94a49 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T13:24:05Z |
| publishDate | 2019-11-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-e829747613c04de9a088436744a94a492023-02-15T16:11:56ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382019-11-01961841944254On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific CountriesNoha Emara0Loreto Reyes RebolledoRutgers University, U.S.A.<p>In this paper we study the effect of economic freedom on output per worker using a panel least square estimation methodology for a sample of 14 Asia-Pacific (APAC) and 18 OECD countries over the 1980-2014 period. This methodology allows us not only to study the relationship between the economic freedom and output per worker in APAC countries but also compare it with the empirical association between economic freedom and output per worker observed in OECD countries. The study also investigates the role of governance in affecting the impact of economic freedom on output per worker and its components. Our results indicate that 1) economic freedom has a positive and statistically significant impact on output per worker when we consider all countries in the sample and control for country-and time- fixed-effects. 2) A country’s economic freedom has a on its positive and statistically significant impact on its output per worker, but this effect higher for OECD countries than for APAC countries. 3) For APAC countries, a country’s size of government, legal system, and regulation has a positive and statistically significant impact on its output per worker.</p><h2><strong>Keywords:</strong> APAC; Economic Freedom; Political Freedoms; Productivity; Corruption</h2><p><strong>JEL Classifications:</strong> O16; O43; N20</p><p>DOI: <a href="https://doi.org/10.32479/ijefi.8252">https://doi.org/10.32479/ijefi.8252</a></p>https://www.econjournals.com/index.php/ijefi/article/view/8252 |
| spellingShingle | Noha Emara Loreto Reyes Rebolledo On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries International Journal of Economics and Financial Issues |
| title | On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries |
| title_full | On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries |
| title_fullStr | On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries |
| title_full_unstemmed | On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries |
| title_short | On the Relationship Between Economic Freedom and Output Per Worker: The Case of Asia-Pacific Countries |
| title_sort | on the relationship between economic freedom and output per worker the case of asia pacific countries |
| url | https://www.econjournals.com/index.php/ijefi/article/view/8252 |
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