The convergence dynamics of economic freedom across U.S. states
This study tests for convergence in economic freedom across the 50 U.S. states from 1981 to 2019. In particular, we test for stochastic convergence in overall economic freedom using unit root tests that account for structural breaks and bounded processes, two sources of parameter instability. We fin...
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| Veröffentlicht in: | Southern economic journal 2023-04, Vol.89 (4), p.1216-1241 |
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| container_title | Southern economic journal |
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| creator | Payne, James E. Saunoris, James W. Nazlioglu, Saban Karul, Cagin |
| description | This study tests for convergence in economic freedom across the 50 U.S. states from 1981 to 2019. In particular, we test for stochastic convergence in overall economic freedom using unit root tests that account for structural breaks and bounded processes, two sources of parameter instability. We find limited evidence of stochastic convergence. Further analysis of relative (club) convergence and weak σ‐convergence rejects the presence of overall convergence in the panel of the U.S. states, but the emergence of two convergence clubs with respect to state‐level economic freedom. The logit analysis of the determinants of the convergence clubs reveals that more prosperous states and states with a higher initial level of economic freedom have a higher probability of being in the club with more economic freedom. However, more racially diverse states have a lower probability of being in the club with more economic freedom. |
| doi_str_mv | 10.1002/soej.12629 |
| format | Article |
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However, more racially diverse states have a lower probability of being in the club with more economic freedom.</description><subject>bounded unit roots</subject><subject>club convergence</subject><subject>Clubs</subject><subject>Convergence</subject><subject>economic freedom</subject><subject>Freedoms</subject><subject>Logit analysis</subject><subject>stochastic convergence</subject><subject>structural breaks</subject><subject>Tests</subject><subject>weak σ‐convergence</subject><issn>0038-4038</issn><issn>2325-8012</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><recordid>eNp90E9LwzAYBvAgCs7pxU8Q8Ca0Jm_TNT2JDP8y2GHbOSTpG-3Ymplsyr692Sp485IQ8uPJm4eQa85yzhjcRY_LnMMI6hMygALKTDIOp2TAWCEzkZZzchHjkiXMeTkg9_MPpNZ3XxjesbNIm32n162N1DuK6cKnA3UBsfFrqm3wMdJFPstp3Ootxkty5vQq4tXvPiSLp8f5-CWbTJ9fxw-TzBY1rzNRVoC1s4VtRGN0xdBJbhsuJTemMqLRAMyAtoVG41BYEKJEqNBIUxWuKYbkps_dBP-5w7hVS78LXXpSQVWXUoIUZVK3vTrOGdCpTWjXOuwVZ-pQkDoUpI4FJUx7fPhmG_-oLGHEQTCeCO_Jd7vC_T9hajZ9fOtjfwAXUnLB</recordid><startdate>202304</startdate><enddate>202304</enddate><creator>Payne, James E.</creator><creator>Saunoris, James W.</creator><creator>Nazlioglu, Saban</creator><creator>Karul, Cagin</creator><general>John Wiley & Sons, Inc</general><general>Southern Economic Association</general><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>4S-</scope><scope>4T-</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>202304</creationdate><title>The convergence dynamics of economic freedom across U.S. states</title><author>Payne, James E. ; Saunoris, James W. ; Nazlioglu, Saban ; Karul, Cagin</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3919-4572e9fc3cd4dba70ef81cd1881bb7b4da220b2ac3aebfe4c2445e27eb8b73fd3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>bounded unit roots</topic><topic>club convergence</topic><topic>Clubs</topic><topic>Convergence</topic><topic>economic freedom</topic><topic>Freedoms</topic><topic>Logit analysis</topic><topic>stochastic convergence</topic><topic>structural breaks</topic><topic>Tests</topic><topic>weak σ‐convergence</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Payne, James E.</creatorcontrib><creatorcontrib>Saunoris, James W.</creatorcontrib><creatorcontrib>Nazlioglu, Saban</creatorcontrib><creatorcontrib>Karul, Cagin</creatorcontrib><collection>ECONIS</collection><collection>CrossRef</collection><collection>BPIR.com Limited</collection><collection>Docstoc</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Southern economic journal</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Payne, James E.</au><au>Saunoris, James W.</au><au>Nazlioglu, Saban</au><au>Karul, Cagin</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The convergence dynamics of economic freedom across U.S. states</atitle><jtitle>Southern economic journal</jtitle><date>2023-04</date><risdate>2023</risdate><volume>89</volume><issue>4</issue><spage>1216</spage><epage>1241</epage><pages>1216-1241</pages><issn>0038-4038</issn><eissn>2325-8012</eissn><abstract>This study tests for convergence in economic freedom across the 50 U.S. states from 1981 to 2019. 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| ispartof | Southern economic journal, 2023-04, Vol.89 (4), p.1216-1241 |
| issn | 0038-4038 2325-8012 |
| language | eng |
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| source | Wiley-Blackwell Journals; Business Source Complete |
| subjects | bounded unit roots club convergence Clubs Convergence economic freedom Freedoms Logit analysis stochastic convergence structural breaks Tests weak σ‐convergence |
| title | The convergence dynamics of economic freedom across U.S. states |
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