Economic policy uncertainty: are there regional and country correlations?

Peterson Ozili

International Review of Applied Economics, 2021, vol. 35, issue 5, 714-728

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.

Date: 2021
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DOI: 10.1080/02692171.2020.1853075

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