Guesstimating is Superior to Omitting: A Better Way of Addressing Sparse Data in Economic Freedom of the World

2014 ◽  
Author(s):  
Ryan Murphy
Keyword(s):  
Economic Freedom ◽  
Sparse Data ◽  
The World

scholarly journals Os Objetivos do Direito da Concorrência em Face da Ordem Econômica Nacional

2014 ◽  
Vol 9 (1) ◽  
Author(s):  
Luiz Carlos Buchain
Keyword(s):  
Economic Freedom ◽  
Market Failure ◽  
Market Competition ◽  
State Intervention ◽  
Perfect Competition ◽  
Economic Order ◽  
Economic Power ◽  
Free Enterprise ◽  
The World ◽  
Object Of Study

OS OBJETIVOS DO DIREITO DA CONCORRÊNCIA EM FACE DA ORDEM ECONÔMICA NACIONAL THE OBJECTIVES OF COMPETITION LAW REGARDING NATIONAL ECONOMIC ORDER Luiz Carlos Buchain RESUMO: A Constituição Federal brasileira, ao adotar o princípio da livre iniciativa para a Ordem Econômica, também acatou a liberdade de empresa como fundamento destinado a estabelecer a ampla concorrência de mercado entre agentes econômicos. Entretanto, como demonstra a história econômica, a liberdade econômica traz em si a concentração de poder econômico nas mãos de determinadas empresas (ou grupo). Tal concentração de poder é considerada uma das falhas de mercado porque possibilita ao seu detentor adotar determinados comportamentos prejudiciais à concorrência, os quais não seriam factíveis na ausência desse poder. Por isso mesmo, a concentração e o poder econômico passaram a ser objeto de estudos jurídicos e econômicos baseados na premissa de que a preservação da livre concorrência é um pressuposto ao desenvolvimento da economia e garantia da livre iniciativa. O direito econômico reconhece que a livre iniciativa, isoladamente considerada, não garante a manutenção da liberdade econômica ou o modelo de competição perfeita no mundo fático, ou seja, os modelos econômicos estão sujeitos a falhas estruturais cuja correção justifica a intervenção do Estado na economia. Neste artigo, abordamos as diversas correntes que defendem ou condenam a intervenção do estado na economia e sua regulação, em variados graus. A intervenção do Estado na economia tornou-se objeto de estudo e matéria legislativa em todo o mundo, seja na ordem legislativa interna, seja na esfera do direito público internacional, donde se destaca a Organização Mundial do Comércio – OMC e a Organização para a Cooperação e Desenvolvimento Econômico – OCDE. PALAVRAS-CHAVE: Concorrência; Objetivos; Livre iniciativa; Regulação. ABSTRACT: The Brazilian Federal Constitution, once it adopted the principle of free enterprise for its economic order, also accepted the freedom to conduct a business as the basis for the establishment of the broader market competition among economic agents. However, as economic history shows, economic freedom brings with itself concentration of economic power in the hands of certain companies (or group of companies). Such a concentration of power is reputed a market failure derives because it enables such companies to adopt certain behaviors considered harmful to competition, which would not be feasible without such power. Therefore, concentration and economic power have become object of study of law and economics based on the premise that the preservation of free competition is an assumption for the economic development and guarantee of free enterprise. Economic law recognizes as a fact that free enterprise, taken in isolation, does not guarantee the sustenance of economic freedom or the model of perfect competition in the factual world; in other words, economic models are subject to structural failures whose correction justifies state intervention in economy. In this paper we discuss the various currents that advocate or condemn state intervention in the economy and its regulation, in varying degrees. State intervention in the economy has become the object of study and legislative matters in the world, whether in the internal legislative order or in the sphere of public international law, where stands the World Trade Organization – WTO and the Organization for Economic Co-operation and Development - OECD.KEYWORDS: Competition; Objectives; Free enterprise; Regulation. SUMÁRIO: Introdução. 1. O direito da concorrência e as políticas públicas. 1.1. Principais objetivos da política de concorrência. 1.2. Objetivos complementares da política de concorrência. 2. Interface entre política de concorrência e outras políticas públicas. 2.1. Possíveis conflitos entre múltiplos objetivos. 2.2. Instrumentos da política de concorrência. Considerações finais. Referências.

Conclusion: Sustainability

2020 ◽  
pp. 135-138
Author(s):  
Walter A. Friedman
Keyword(s):  
World War Ii ◽  
Risk Taking ◽  
World Economy ◽  
Economic Freedom ◽  
American Dream ◽  
Business Environment ◽  
American Business ◽  
World War ◽  
The World ◽  
Powerful Incentive

Throughout history, and particularly since World War II, American business has held a real and symbolic role in the world economy. The conclusion looks at the reasons behind this: an intermittently regulated business environment; a focus on innovation and regeneration and a comparative lack of stigma attached to failure; and the “American Dream” of democratic entrepreneurship, which has attracted new people and perspectives throughout history. While social and economic freedom is inaccessible to many, the idea of it has been a powerful incentive to encourage risk-taking people, from both America and around the world, to pursue opportunities in America—and enough have succeeded there to encourage others.

Does economic freedom improve health outcomes in sub-Saharan Africa?

2020 ◽  
Vol 47 (12) ◽  
pp. 1633-1649
Author(s):  
Anand Sharma
Keyword(s):  
Mortality Rate ◽  
Life Expectancy ◽  
Health Outcomes ◽  
Economic Freedom ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Content Type ◽  
The World ◽  
Sub Saharan ◽  
The Impact

PurposeThe purpose of this study is to examine the impact of economic freedom on four key health indicators (namely, life expectancy, infant mortality rate, under-five mortality rate and neonatal mortality rate) by using a panel dataset of 34 sub-Saharan African countries from 2005 to 2016.Design/methodology/approachThe study obtains data from the World Development Indicators (WDI) of the World Bank and the Fraser Institute. It uses fixed effects regression to estimate the effect of economic freedom on health outcomes and attempts to resolve the endogeneity problems by using two-stage least squares regression (2SLS).FindingsThe results indicate a favourable impact of economic freedom on health outcomes. That is, higher levels of economic freedom reduce mortality rates and increase life expectancy in sub-Saharan Africa. All areas of economic freedom, except government size, have a significant and positive effect on health outcomes.Research limitations/implicationsThis study analyses the effect of economic freedom on health at a broad level. Country-specific studies at a disaggregated level may provide additional information about the impact of economic freedom on health outcomes. Also, this study does not control for some important variables such as education, income inequality and foreign aid due to data constraints.Practical implicationsThe findings suggest that sub-Saharan African countries should focus on enhancing the quality of economic institutions to improve their health outcomes. This may include policy reforms that support a robust legal system, protect property rights, promote free trade and stabilise the macroeconomic environment. In addition, policies that raise urbanisation, increase immunisation and lower the incidence of HIV are likely to produce a substantial improvement in health outcomes.Originality/valueExtant economic freedom-health literature does not focus on endogeneity problems. This study uses instrumental variables regression to deal with endogeneity. Also, this is one of the first attempts to empirically investigate the relationship between economic freedom and health in the case of sub-Saharan Africa.

scholarly journals Corrigendum

2014 ◽  
Vol 40 (7) ◽  
pp. 2033-2033
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Economic Freedom ◽  
Informal Institutions ◽  
Formal Institutions ◽  
Heritage Foundation ◽  
The World ◽  
Inward Foreign Direct Investment

Holmes, R. M., Miller, T., Hitt, M. A., & Salmador, M. P. 2013. The interrelationships among informal institutions, formal institutions, and inward foreign direct investment. Journal of Management, 39: 531-566. Original DOI: 10.1177/0149206310393503 . In this article in the February 2013 issue of Journal of Management, Table 4 had errors. The corrected table appears below. [Table: see text] Also in this article, the authors cited Gwartney, Lawson, and Block (1996) when referencing the Index of Economic Freedom, whereas Gwartney et al. (1996) published the Economic Freedom of the World; the Heritage Foundation publishes the Index of Economic Freedom. The authors apologize for these errors, which were unintentional.

scholarly journals The relationship between government, market and enterprises in Vietnam

2014 ◽  
Vol 17 (1) ◽  
pp. 16-28
Author(s):  
Dao Thi Thieu Ha
Keyword(s):  
Economic Freedom ◽  
Government Effectiveness ◽  
Clear Cut ◽  
Governance Indicators ◽  
Doing Business ◽  
The World ◽  
Economic Freedom Index ◽  
Ease Of Doing Business ◽  
The Government ◽  
The Relationship

This article analyses the reality relationship among government, market and enterprises in Vietnam in the period of 1996-2012. We find out that: (i) the effectiveness of government indicators such as ease of doing business index, the economic freedom index, the government effectiveness indicators (belong to the governance indicators) improved considerably overtime but have not reached the average level of the world; (ii) the relationship between government and enterprises has not been clear-cut. As a result, though many reforms have been conducted, state owned enterprises still take up a high percentage in many industries and enjoy multiple preferential polices while operate inefficiently. This articles also points out the reasons of the situation and gives some recommendations for solving those problems.

scholarly journals Economics Of Freedom: An Empirical Analysis

2011 ◽  
Vol 7 (5) ◽  
Author(s):  
Reza G. Hamzaee ◽  
G. Rod Erfani
Keyword(s):  
Quality Of Life ◽  
Economic Freedom ◽  
Civil Liberties ◽  
The Other ◽  
Political Freedom ◽  
Political Rights ◽  
Significant Relationships ◽  
The World ◽  
The One

Human freedom, and therefore, quality of life in many countries of the world have been restricted and diminished. Economic freedom and a controversial issue of interrelationship between economic and political freedom are empirically examined here. In several empirical estimations, embodying 155 countries of the world, some tight as well as statistically significant relationships are detected between economic freedom, on the one hand, and civil liberties, political rights, and political freedom, on the other.

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