Economic Freedom, Pandemics and Robust Political Economy

Southern Economic Journal, forthcoming

24 Pages Posted: 15 Dec 2020 Last revised: 19 Jan 2021

See all articles by Rosolino Candela

Rosolino Candela

George Mason University - Mercatus Center

Vincent Geloso

Bates College; University of Western Ontario - King's University College

Date Written: December 11, 2020

Abstract

What is the relationship, if any, between economic freedom and pandemics? This paper addresses this question from a robust political economy approach. As is the case with recovery from natural disasters or warfare, a society that is relatively free economically offers economic actors greater flexibility to adapt to pandemics. We argue that societies that are more economically free will be more robust to the impact from pandemics, illustrated by shorter time for economic recovery. We illustrate this relationship by testing how initial levels of economic freedom (at the start of the major influenza pandemics of the 20th century) temper contractions and accelerate recoveries for 20 OECD countries.

Keywords: Economic Freedom; Pandemics; Robust Political Economy

JEL Classification: B51, H12, P52

Suggested Citation

Candela, Rosolino and Geloso, Vincent, Economic Freedom, Pandemics and Robust Political Economy (December 11, 2020). Southern Economic Journal, forthcoming, Available at SSRN: https://ssrn.com/abstract=3747216 or http://dx.doi.org/10.2139/ssrn.3747216

Rosolino Candela

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

Vincent Geloso (Contact Author)

Bates College ( email )

Department of Economics
Lewiston, ME
United States

University of Western Ontario - King's University College ( email )

266 Epworth Avenue
London, Ontario N6A 2M3
Canada

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
65
Abstract Views
318
rank
395,581
PlumX Metrics