Assessing Economic Liberalization Episodes: A Synthetic Control Approach

Andreas Billmeier () and Tommaso Nannicini

The Review of Economics and Statistics, 2013, vol. 95, issue 3, 983-1001

Abstract: We use a transparent statistical methodology for data-driven case studies–the synthetic control method–to investigate the impact of economic liberalization on real GDP per capita in a worldwide sample of countries. Economic liberalization is measured by a widely used indicator that captures the scope of the market in the economy. The methodology compares the postliberalization GDP trajectory of treated economies with the trajectory of a combination of similar but untreated economies. We find that liberalizing the economy had a positive effect in most regions, but more recent liberalizations, in the 1990s and mainly in Africa, had no significant impact. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.

Keywords: economic; liberalization (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (302)

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