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Re-examination of price level differentials using economic freedom index

Findings reported in this paper provide improved explanation as to what factors are correlated with price levels across a large sample of 152 countries. The results are obtained from using a new set of variables called economic freedom indices, covering 19 years. Prior studies used income, trade ope...

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Main Authors: Shaar, Karam, Syed Mohamed, Mohamed Ariff
Format: Article
Language:English
Published: Routledge 2016
Online Access:http://psasir.upm.edu.my/id/eprint/53746/1/Re-examination%20of%20price%20level%20differentials%20using%20economic%20freedom%20index.pdf
http://psasir.upm.edu.my/id/eprint/53746/
http://www.tandfonline.com/doi/abs/10.1080/09638199.2015.1137345
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spelling my.upm.eprints.537462018-01-15T02:36:37Z http://psasir.upm.edu.my/id/eprint/53746/ Re-examination of price level differentials using economic freedom index Shaar, Karam Syed Mohamed, Mohamed Ariff Findings reported in this paper provide improved explanation as to what factors are correlated with price levels across a large sample of 152 countries. The results are obtained from using a new set of variables called economic freedom indices, covering 19 years. Prior studies used income, trade openness, and productivity, which led to results with much less explanatory power compared to findings reported in this paper. We apply advanced panel data econometrics to obtain robust estimates of parameters, which, in our view, led to results with substantially high coefficient of variations close to 90%. The findings show that all the nine dimensions of economic freedom used in this study significantly account for the variations in national price levels. Routledge 2016 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/53746/1/Re-examination%20of%20price%20level%20differentials%20using%20economic%20freedom%20index.pdf Shaar, Karam and Syed Mohamed, Mohamed Ariff (2016) Re-examination of price level differentials using economic freedom index. Journal of International Trade and Economic Development, 25 (6). pp. 880-896. ISSN 0963-8199; ESSN: 1469-9559 http://www.tandfonline.com/doi/abs/10.1080/09638199.2015.1137345 10.1080/09638199.2015.1137345
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description Findings reported in this paper provide improved explanation as to what factors are correlated with price levels across a large sample of 152 countries. The results are obtained from using a new set of variables called economic freedom indices, covering 19 years. Prior studies used income, trade openness, and productivity, which led to results with much less explanatory power compared to findings reported in this paper. We apply advanced panel data econometrics to obtain robust estimates of parameters, which, in our view, led to results with substantially high coefficient of variations close to 90%. The findings show that all the nine dimensions of economic freedom used in this study significantly account for the variations in national price levels.
format Article
author Shaar, Karam
Syed Mohamed, Mohamed Ariff
spellingShingle Shaar, Karam
Syed Mohamed, Mohamed Ariff
Re-examination of price level differentials using economic freedom index
author_facet Shaar, Karam
Syed Mohamed, Mohamed Ariff
author_sort Shaar, Karam
title Re-examination of price level differentials using economic freedom index
title_short Re-examination of price level differentials using economic freedom index
title_full Re-examination of price level differentials using economic freedom index
title_fullStr Re-examination of price level differentials using economic freedom index
title_full_unstemmed Re-examination of price level differentials using economic freedom index
title_sort re-examination of price level differentials using economic freedom index
publisher Routledge
publishDate 2016
url http://psasir.upm.edu.my/id/eprint/53746/1/Re-examination%20of%20price%20level%20differentials%20using%20economic%20freedom%20index.pdf
http://psasir.upm.edu.my/id/eprint/53746/
http://www.tandfonline.com/doi/abs/10.1080/09638199.2015.1137345
_version_ 1643835476386250752
score 13.211869

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