1. Economic Liberalizations Around the World Since 1970: Shock Therapy Versus Gradualism
- Author:
- Kerianne N. Lawson and Robert A. Lawson
- Publication Date:
- 10-2020
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- This article examines 77 countries with the most significant economic liberalizations since 1970, as measured by changes in the Economic Freedom of the World (EFW) index. Measures of both the speed and comprehensiveness of the reforms are presented. Our empirical evidence suggests that faster reforming nations economically outperformed slower reformers. We do not find evidence that more comprehensive reforms, as opposed to more narrowly targeted reforms, had much of an impact on ensuing economic growth.
- Topic:
- Economics, Reform, Economic Growth, and Liberalization
- Political Geography:
- Global Focus