DO 'LABOUR' COUNCILS LOWER ECONOMIC FREEDOM?

Nicholas Apergis ()

Bulletin of Monetary Economics and Banking, 2018, vol. 21, issue 2, 149-160

Abstract: Using a panel of the UK counties, spanning the period 2010-2016, this study exploreswhether having a Labour or Conservative council affects a county’s economic freedom.Due to data unavailability of any economic freedom index for the UK counties,the analysis employed direct measures in relevance to three sub-components ofeconomic freedom, i.e. size of government, sound money and the freedom to tradeinternationally. Using a regression discontinuity approach, we find strong evidencethat the political ideology of a council affects all three sub-components of economicfreedom. An implication of this result is that councils appeal to specific groups ofvoters when making policy.

Keywords: Economic freedom; Political councils; Regression discontinuity approach; UK countries (search for similar items in EconPapers)
JEL-codes: C33 H11 R58 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:21:y:2018:i:2:p:149-160

DOI: 10.21098/bemp.v21i1.958

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