Alternatively, one could simply compile a list of all the policies that appeal to your particular ideology and assert that they are conducive to growth. For example, one could select measures based on a review of the best research on the factors that contribute to state economic growth. Ideally, one would include all the most relevant variables and avoid irrelevant ones. The first step in creating an index is to decide which factors to include. Due to this, the results are meaningless at best and misleading at worst. But the indexes critiqued on this site tend to ignore research and simply choose measures on the basis of ideological bias, convenience, or popular mythology. There are several steps to the creation of an index, and it is possible to rely on the best available research technique at each step of the way. The possibilities for mischief and misdirection in the construction of a business climate index are almost unlimited. Index Numbers: A Black Box Full of Mischief and Mystery
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