The cross-country comparison by Finland’s academic Jani Kinnunen took a hybrid approach to the relation of economic freedoms and GDP by firstly finding out separate similar clusters of countries, then using principal component analysis to reveal the most important factors explaining the variance of the large set of variables and taking a short look at correlations of qualititave factors such as state’s view on religion, while transforming also freedom variables to qualitative classes to find out which variable classes are related and could explain the other variables.

Read Full Article Here

Leave a Reply

Your email address will not be published. Required fields are marked *

Post comment