The Design and Use of Political Economy Indicators : Challenges of Definition, Aggregation, and Application

This edited volume seeks to provide a critical and technical look at international political economy indices (PEIs). It examines measurement issues, relates PEIs to economic theory, and suggests better measures than those currently used. This Book Addresses A Need: The Most Commonly Employed Political Economy Indicators (peis) Frequently Give Little Useful Information And Lead To Problematic Results. This Volume Will Examine Measurement Issues, Relate Peis To Economic Theory, And Suggest Better Measures Than At Present. It Is Relevant For Practitioners: The Editors Will Deliver Chapters That Are Readable For Policy Makers And Journalists As Well As Economists. This Edited Volume Seeks To Provide A Critical And Technical Look At International Political Economic Indices (peis). It Examines Measurement Issues, Relates Peis To Economic Theory, And Suggests Better Measures Than Those Currently Used. 1. The Challenges Of Measurement In Political Economy / King Banaian, Marta Podemska, And Bryan Roberts -- 2. So You Want To Use A Measure Of Openness? / H. Lane David -- 3. Measuring Central Bank Independence: Ordering, Ranking, Or Scoring? / King Banaian -- 4. Fiscal Indicators / John E. Anderson -- 5. A New And Better Measure Of Capital Controls / Pariyate Potchamanawong, Arthur T. Denzau, Sunil Rongala, Joshua C. Walton, And Thomas D. Willett -- 6. Measuring Welfare / Bryan Roberts -- 7. Why And How To Move From Capturing Perception Of To Quantifying Corruption? / Omer Gokcekus And Justin Myzie -- 8. New Interpretations Of Indices Of Economic Freedom / King Banaian And William Luksetich -- 9. On The Methodology Of The Economic Freedom Of The World Index / Robert A. Lawson --10. Government Structure, Strength, And Effectiveness / Joshua C. Walton, Apanard Angkinand, Marina Arbetman, Marie Besancon, Eric M.p. Chiu, Suzanne Danis, Arthur T. Denzau, Yi Feng, Jacek Kugler, Kristin Johnson, And Thomas D. Willett. Edited By King Banaian And Bryan Roberts. Includes Bibliographical References And Index. Contents......Page 8 List of Figures and Tables......Page 10 List of Contributors......Page 12 1 The Challenges of Measurement in Political Economy......Page 14 2 So You Want to Use a Measure of Openness?......Page 28 3 Measuring Central Bank Independence: Ordering, Ranking, or Scoring?......Page 46 4 Fiscal Indicators......Page 70 5 A New and Better Measure of Capital Controls......Page 94 6 Measuring Welfare......Page 116 7 Why and How to Move from Capturing Perception of to Quantifying Corruption?......Page 152 8 New Interpretations of Indices of Economic Freedom......Page 168 9 On the Methodology of the Economic Freedom of the World Index......Page 184 10 Government Structure, Strength, and Effectiveness......Page 200 E......Page 230 S......Page 231 W......Page 232