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Handbook of Research on Economic Freedom
This seminal Handbook provides a comprehensive overview of contemporary research on economic freedom, using multidisciplinary methods to assess studies of the determinants and consequences of market-oriented institutions and policies. Niclas Berggren brings together world-leading experts in their respective fields to explore the notion of economic freedom in the history of economic thought, to present measures of economic freedom and to provide overviews of the latest empirical research.
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Critical Acclaim
Contributors
Contents
More Information
This seminal Handbook provides a comprehensive overview of contemporary research on economic freedom, using multidisciplinary methods to assess studies of the determinants and consequences of market-oriented institutions and policies.
Niclas Berggren brings together world-leading experts in their respective fields to explore the notion of economic freedom in the history of economic thought, to present measures of economic freedom and to provide overviews of the latest empirical research. Chapters cover a wide range of topics, such as how religion, democracy and immigration affect the extent to which societies are market-oriented, and how economic freedom relates to economic growth, entrepreneurship and happiness. Chapters also address claims that economic freedom causes socioeconomic cleavages, a worse life for women and environmental degradation. Looking forward, the Handbook of Research on Economic Freedom presents cutting-edge research and proposes key policy recommendations for future institutional reform and development.
This Handbook will prove a vital read for academics, researchers and students across economics and finance, and related disciplines interested in institutions, capitalism, the market economy and economic freedom. Summarizing crucial studies on the consequences of liberalizing reforms, it will also be of great benefit to governmental public policymakers.
Niclas Berggren brings together world-leading experts in their respective fields to explore the notion of economic freedom in the history of economic thought, to present measures of economic freedom and to provide overviews of the latest empirical research. Chapters cover a wide range of topics, such as how religion, democracy and immigration affect the extent to which societies are market-oriented, and how economic freedom relates to economic growth, entrepreneurship and happiness. Chapters also address claims that economic freedom causes socioeconomic cleavages, a worse life for women and environmental degradation. Looking forward, the Handbook of Research on Economic Freedom presents cutting-edge research and proposes key policy recommendations for future institutional reform and development.
This Handbook will prove a vital read for academics, researchers and students across economics and finance, and related disciplines interested in institutions, capitalism, the market economy and economic freedom. Summarizing crucial studies on the consequences of liberalizing reforms, it will also be of great benefit to governmental public policymakers.
Critical Acclaim
‘This first book on the research of economic freedom is rooted in the essential link between science and measurement. Prosperity, poverty reduction, economic growth and human flourishing all depend on individuals being free within the natural social framework they define for each other, and to engage as they desire and choose in markets regulated by prices emerging from dispersed privately informed individuals.’
– Vernon Smith, Chapman University, US
‘Niclas Berggren has edited the Handbook of Research on Economic Freedom, the best single collection on the topic at hand. This book will serve as a valuable monument to the importance of economic freedom, how to measure it, and how to understand it. There are few books that could do the world more good than this one.’
– Tyler Cowen, George Mason University, US
‘30 years ago, quantitative research into the effects of economic freedom was virtually impossible. This Handbook offers a wonderful overview of the research into the determinants and consequences of economic freedom that has since been produced. The 27 chapters are highly informative and stimulating: by identifying open questions, they point at possible directions for future research.’
– Stefan Voigt, University of Hamburg, Germany
– Vernon Smith, Chapman University, US
‘Niclas Berggren has edited the Handbook of Research on Economic Freedom, the best single collection on the topic at hand. This book will serve as a valuable monument to the importance of economic freedom, how to measure it, and how to understand it. There are few books that could do the world more good than this one.’
– Tyler Cowen, George Mason University, US
‘30 years ago, quantitative research into the effects of economic freedom was virtually impossible. This Handbook offers a wonderful overview of the research into the determinants and consequences of economic freedom that has since been produced. The 27 chapters are highly informative and stimulating: by identifying open questions, they point at possible directions for future research.’
– Stefan Voigt, University of Hamburg, Germany
Contributors
Contributors include: André Azevedo Alves, Daniel L. Bennett, Niclas Berggren, Andreas Bergh, Christian Bjørnskov, Jamie Bologna Pavlik, Per L. Bylund, Gregory W. Caskey, Abishek Choutagunta, Nick Cowen, Jakob de Haan, Eelke de Jong, Douglas Den Uyl, Rosemarie Fike, Vincent J. Geloso, Johan Graafland, Peter Graeff, Jonas Grafström, Inês Gregório, Jerg Gutmann, Klaus Gründler, James D. Gwartney, Armin Hackenberger, Anders Kärnä, Peter G. Klein, Tim Krieger, Robert A. Lawson, Matthew McCaffrey, Daniel Meierrieks, Ryan H. Murphy, Ola Olsson, Alexandre Padilla, Maria Pia Paganelli, Hans Pitlik, Niklas Potrafke, Douglas B. Rasmussen, Jan-Egbert Sturm, Gerhard Wegner
Contents
Contents:
1 Introduction to the Handbook of Research on Economic Freedom 1
Niclas Berggren
PART I THE CONCEPT AND MEASUREMENT OF ECONOMIC FREEDOM
2 The creation of the Economic Freedom of the World index 16
James D. Gwartney and Robert A. Lawson
3 Economic Freedom of the World in the universe of measuring institutions 32
Ryan H. Murphy
PART II ECONOMIC FREEDOM IN THE WORLD
4 Economic freedom, 1950–2020 49
Ryan H. Murphy
5 Economic freedom in economic history 61
Vincent J. Geloso and Gregory W. Caskey
PART III ECONOMIC FREEDOM IN THE HISTORY OF ECONOMIC THOUGHT
6 Adam Smith and economic freedom 75
Maria Pia Paganelli
7 Economic freedom in the Freiburg and Austrian schools 86
Gerhard Wegner
PART IV DETERMINANTS OF ECONOMIC FREEDOM
8 Religion and economic freedom 102
André Azevedo Alves and Inês Gregório
9 The effects of crises on economic freedom and market-oriented
reforms: a survey 118
Hans Pitlik
10 Democracy and economic freedom 134
Abishek Choutagunta and Jerg Gutmann
11 Government ideology and economic freedom: new empirical evidence 145
Klaus Gründler, Armin Hackenberger and Niklas Potrafke
12 Immigration and economic freedom 160
Alexandre Padilla
13 Deep determinants of economic freedom 174
Ola Olsson
PART V CONSEQUENCES OF ECONOMIC FREEDOM
14 The impact of economic freedom on economic growth 190
Jakob de Haan and Jan-Egbert Sturm
15 Economic freedom and inequality: a survey of the empirical literature 211
Daniel L. Bennett
16 Economic freedom and happiness: on moderation and mediation 228
Johan Graafland
17 Entrepreneurship and economic freedom 245
Per L. Bylund, Peter G. Klein and Matthew McCaffrey
18 The influence of the market economy and economic freedom on culture 261
Eelke de Jong
19 Economic freedom and gender 275
Rosemarie Fike
20 Economic freedom and populism 299
Andreas Bergh and Anders Kärnä
21 Economic freedom and human rights: a survey 317
Christian Bjørnskov
22 Economic freedom and the economic effects of crises 332
Jamie Bologna Pavlik
23 Economic freedom and environmental performance 345
Jonas Grafström
24 Economic freedom, peace and violent conflict 359
Tim Krieger and Daniel Meierrieks
25 The impact of economic freedom on corruption and the shadow economy 374
Peter Graeff
PART VI THE PHILOSOPHY OF ECONOMIC FREEDOM
26 Economic freedom and social justice 390
Nick Cowen
27 Freedom and flourishing 404
Douglas J. Den Uyl and Douglas B. Rasmussen
1 Introduction to the Handbook of Research on Economic Freedom 1
Niclas Berggren
PART I THE CONCEPT AND MEASUREMENT OF ECONOMIC FREEDOM
2 The creation of the Economic Freedom of the World index 16
James D. Gwartney and Robert A. Lawson
3 Economic Freedom of the World in the universe of measuring institutions 32
Ryan H. Murphy
PART II ECONOMIC FREEDOM IN THE WORLD
4 Economic freedom, 1950–2020 49
Ryan H. Murphy
5 Economic freedom in economic history 61
Vincent J. Geloso and Gregory W. Caskey
PART III ECONOMIC FREEDOM IN THE HISTORY OF ECONOMIC THOUGHT
6 Adam Smith and economic freedom 75
Maria Pia Paganelli
7 Economic freedom in the Freiburg and Austrian schools 86
Gerhard Wegner
PART IV DETERMINANTS OF ECONOMIC FREEDOM
8 Religion and economic freedom 102
André Azevedo Alves and Inês Gregório
9 The effects of crises on economic freedom and market-oriented
reforms: a survey 118
Hans Pitlik
10 Democracy and economic freedom 134
Abishek Choutagunta and Jerg Gutmann
11 Government ideology and economic freedom: new empirical evidence 145
Klaus Gründler, Armin Hackenberger and Niklas Potrafke
12 Immigration and economic freedom 160
Alexandre Padilla
13 Deep determinants of economic freedom 174
Ola Olsson
PART V CONSEQUENCES OF ECONOMIC FREEDOM
14 The impact of economic freedom on economic growth 190
Jakob de Haan and Jan-Egbert Sturm
15 Economic freedom and inequality: a survey of the empirical literature 211
Daniel L. Bennett
16 Economic freedom and happiness: on moderation and mediation 228
Johan Graafland
17 Entrepreneurship and economic freedom 245
Per L. Bylund, Peter G. Klein and Matthew McCaffrey
18 The influence of the market economy and economic freedom on culture 261
Eelke de Jong
19 Economic freedom and gender 275
Rosemarie Fike
20 Economic freedom and populism 299
Andreas Bergh and Anders Kärnä
21 Economic freedom and human rights: a survey 317
Christian Bjørnskov
22 Economic freedom and the economic effects of crises 332
Jamie Bologna Pavlik
23 Economic freedom and environmental performance 345
Jonas Grafström
24 Economic freedom, peace and violent conflict 359
Tim Krieger and Daniel Meierrieks
25 The impact of economic freedom on corruption and the shadow economy 374
Peter Graeff
PART VI THE PHILOSOPHY OF ECONOMIC FREEDOM
26 Economic freedom and social justice 390
Nick Cowen
27 Freedom and flourishing 404
Douglas J. Den Uyl and Douglas B. Rasmussen