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

Subject(s): Agricultural and Food Policy

Agricultural Finance

Issue Date: 2016

Publication Type: Journal Article

PURL Identifier: Published in: Journal of Regional Analysis and Policy, Volume 46, Issue 1 Page range: 52-59

Record appears in: Mid-Continent Regional Science Association > Journal of Regional Analysis and Policy

Autor: Foley, Maggie ; Clark, J.R.


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