Economic policy uncertainty: are there regional and country correlation?

Ozili, Peterson Kitakogelu (2021): Economic policy uncertainty: are there regional and country correlation? Forthcoming in:

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: economic policy uncertainty, European Union, uncertainty, economic policy, financial crisis, correlation, Asia, Europe, EPU index.
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy; K - Law and Economics > K0 - General > K00 - General

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