Figure 2
The horizontal axis is labeled “Year” and displays individual years from 2004 to 2020 in increments of 2 years. The vertical axis is labeled “Regulatory Quality” and ranges from 0.50 to 0.58 in increments of 0.02 units. On the right side of the graph, a label identifies the line as “Regulatory Quality.” The “Regulatory Quality” line begins slightly below 0.54 in 2004, rises to around 0.57 in 2007, decreases to just above 0.51 in 2010, increases again to approximately 0.58 in 2014, and then declines toward 0.50 by 2020. Note: All numerical values are approximated.Regulatory quality (time series). Source: Authors’ elaboration on Nifo and Vecchione (2014) data