Economic policy uncertainty: are there regional and country correlation?

Peterson Kitakogelu Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: This study examines the correlation of economic policy uncertainty (EPU) across countries and regions. Using correlation analysis, the findings reveal that some countries have a positive EPU correlation while other countries have a negative EPU correlation. The economic policy uncertainty index is positively correlated and jointly significant for EU member-countries. There is evidence of cross-regional positive correlation. Also, the EPU correlations are significant for Europe, non-EU countries and the region of the Americas during the global financial crisis, which suggest that financial crises are a contributory factor that drives the correlation of economic policy uncertainty in certain regions.

Keywords: economic policy uncertainty; European Union; uncertainty; economic policy; financial crisis; correlation; Asia; Europe; EPU index. (search for similar items in EconPapers)
JEL-codes: E5 E52 K00 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-cwa, nep-int, nep-mac and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:105636

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