Guesstimating is Superior to Omitting: A Better Way of Addressing Sparse Data in Economic Freedom of the World
23 Pages Posted: 5 Sep 2014
Date Written: September 3, 2014
Economic Freedom of the World, an economic index published by the Fraser Institute, has seen wide use inside and outside academia. Certain data issues arise, however, when complete data are unavailable. This paper proposes to mitigate or eliminate many of these issues by filling in the missing values using estimates derived from four regression models.
Keywords: Economic Freedom of the World, Economic Indexes
JEL Classification: O11, P51
Suggested Citation: Suggested Citation