Economic Freedom and Real Income

Posted: 19 Sep 2016

See all articles by Maggie C. Foley

Maggie C. Foley

Jacksonville University (Florida)

J. R. Clark

The University of Tennessee at Chattanooga

Date Written: January 8, 2015

Abstract

This article further investigates the critical relationship between economic freedom and real income levels. Treating member nations of the OECD as de facto economic and political regions, the estimations in this empirical study all provide strong support for the three hypotheses considered here, namely: (1) the higher the overall degree of economic freedom, the higher the per capita real income level; (2) the higher the level of regulatory quality, the higher the level of per capita real income; and (3) the higher the tax burden, expressed as a percent of GDP, the lower the level of per capita real income.

Suggested Citation

Foley, Maggie C. and Clark, Jeff R., Economic Freedom and Real Income (January 8, 2015). Available at SSRN: https://ssrn.com/abstract=2839815

Maggie C. Foley (Contact Author)

Jacksonville University (Florida) ( email )

Jacksonville, FL 32211
United States

Jeff R. Clark

The University of Tennessee at Chattanooga ( email )

Department of Economics
Suite 313 Fletcher Hall
Chattanooga, TN 37403-2598
United States

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