ScholarWorks@숙명여자대학교

초록

The purposes of this study are to examine the validity and reliability of the 2017 Index of Economic Freedom (IEF) and to make suggestions for improving the IEF. The principal component analyses reveal that the constructs of rule of law, government size, regulatory efficiency and market openness factors have low convergent, discriminant and criteria-related validity. Furthermore, the higher order factor analyses indicate that the fit indices of the IEF model are low. In the measurement model, tax burden, government spending, fiscal health, labor freedom, monetary freedom and trade freedom have high measurement errors. The results suggest a bad fit to the data. Based on these findings, this study discusses some considerations to improve the IEF.

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