Guesstimating is Superior to Omitting: A Better Way of Addressing Sparse Data in Economic Freedom of the World
Economic Freedom of the World, an economic index published by the Fraser Institute, has seen wide use inside and outside academia. Certain data issues arise, however, when complete data are unavailable. This paper proposes to mitigate or eliminate many of these issues by filling in the missing values using estimates derived from four regression models.
Economic Freedom of the World, Economic Indexes
SMU Cox School of Business Research Paper Series