scholarly journals THE RELATIONSHIP BETWEEN TOURISM AND ECONOMIC GROWTH IN THE SCOPE OF ECONOMIC FREEDOM AND FREEDOM OF INVESTMENT

2021 ◽  
Author(s):  
Emrullah METE
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
The Relationship

How robust is the relationship between economic freedom and economic growth?

2001 ◽  
Vol 33 (7) ◽  
pp. 839-844 ◽  
Author(s):  
Jan-Egbert Sturm ◽  
Jakob De Haan
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
The Relationship

New Evidence on the Relationship Between Economic Freedom and Growth: A Panel Cointegration Analysis for The Case of OECD

2012 ◽  
Vol 12 (3) ◽  
pp. 1850263 ◽  
Author(s):  
Ekrem Erdem ◽  
Can Tansel Tugcu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Total Factor Productivity ◽  
Economic Freedom ◽  
Global Financial Crisis ◽  
Oecd Countries ◽  
Cointegration Analysis ◽  
Factor Productivity ◽  
The Impact ◽  
The Relationship

The aim of this paper is to find a new answer to an old question “Is economic freedom good or not for economies?” which was refreshed after the Global Financial Crisis of 2008. For this purpose, the relationship between economic freedom and economic growth, and the relationship between economic freedom and total factor productivity in OECD countries were investigated by using panel data for the period of 1995-2009. Study employed the recently developed cointegration test by Westerlund (2007) and the estimation technique by Bai and Kao (2006) which account for cross-sectional dependence that is an important problem in the panel data studies. Although no significant relationship found between economic freedom and total factor productivity, cointegration analysis revealed that economic freedom matters for economic growth in OECD countries in the long-run, and estimation results showed that direction of the impact is negative.

scholarly journals Economic Freedoms and Economic Growth: An Investigation on Emerging Market Economies

2015 ◽  
Author(s):  
Bedriye Tunçsiper ◽  
Ömer Faruk Biçen
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
Emerging Market ◽  
Property Right ◽  
Emerging Market Economies ◽  
Dependency Ratio ◽  
Market Economies ◽  
Economic Freedom Index ◽  
The Relationship ◽  
Business Freedom

The common view in the economics theory relating to the fact that economic freedom will raise labor productivity and it will provide effective use of scarce resources becomes a current issue with the increase in the number of papers investigating the effect of economic freedom on economic growth. One of the main reasons of the increasing number of those papers is that economic freedom can be measured quantitatively (numerically) through the indexes calculated by various institutions. In this paper, the relationship between economic freedoms and economic growth for some emerging market economies is investigated. In estimating of the relationship between economic freedoms and economic growth, overall economic freedom index, property right index, business freedom index, trade freedom index and investment freedom index, which was created by the Heritage Foundation was used. Investment/GDP ratio and population dependency ratio are also control variables in the model. In the paper, in which panel fixed effect model was used, property right index, investment freedom index and population dependency ratio affect economic growth negatively, but business freedom index, trade freedom index and investment/GDP ratio affect economic growth positively. It isn’t found that there is a significantly relationship between overall economic freedom index and economic growth.

scholarly journals The components of economic freedom, income and growth: an empirical analysis

2007 ◽  
Vol 37 (3) ◽  
pp. 515-545 ◽  
Author(s):  
Raphael B. Corbi
Keyword(s):  
Economic Growth ◽  
Empirical Analysis ◽  
Growth Model ◽  
Model Test ◽  
Significant Relationship ◽  
Economic Freedom ◽  
Policy Implications ◽  
The Relationship ◽  
Research And Policy

This paper seeks to bring a better understanding of the relationship between economic growth and the disaggregated factors which constitute the elements of economic freedom. The two main objectives of this paper are to: (1) based on the Solow augmented growth model, test which of the elements of economic freedom demonstrate a statistically significant relationship to economic growth; and (2) establish which way the main causality direction between economic freedom and growth runs from. Finally, we identify desirable directions for further research and policy implications.

The Effect of Democratization and Economic Freedom on Economic Growth

2020 ◽  
pp. 171-184
Author(s):  
Ibrahim Orkun Oral
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
Positive Relationship ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Underdeveloped Countries ◽  
The World Bank ◽  
The World ◽  
The Impact ◽  
The Relationship

This chapter examines the impact of democratization and economic freedom on economic growth. For this purpose, according to the classification issued by the World Bank, three groups of countries, developed, developing, and underdeveloped, were included in the study. The impact of democratization and economic freedom on economic growth was tested by panel data analysis in the period of 1995-2012. As a result of the analysis, the relationship between democracy-economic freedom and economic growth has been different according to country groups. While there was a positive relationship between economic growth and democracy-economic freedom in developed and underdeveloped countries, a negative relationship was found in the developing country group.

scholarly journals The relationship between selected macroeconomic indicators and economic freedom in V4 countries

2021 ◽  
pp. 9-17
Author(s):  
Monika Daňová ◽  
Elena Širá
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
Causal Link ◽  
Small Degree ◽  
Strongly Correlated ◽  
Economic Growth And Development ◽  
Macroeconomic Indicators ◽  
The Given ◽  
The Relationship

The paper aims to determine the practical applicability of the indicator of economic freedom in economic policy. The problem areas that arose in connection with the given aim, had a significant influence on the determination of the goal of the work. We were interested in, whether a small degree of economic freedom is the cause of slow economic growth and development, or if the causal link going in the opposite direction? Is the relationship between these elements and economic freedom the same always and everywhere? To answer these questions, we perform a series of analyzes on the data panel of the V4 countries for the period 2000-2019. Based on the obtained results, we identify those factors whose development is strongly related to the development of economic freedom. The results suggest that economic freedom is strongly correlated with public debt, exports, and the level of unemployment, is reflected in the values of these elements and at the same time is significantly affected by these elements. The strength and nature of their relationship with economic freedom vary across the group. Therefore, they cannot be considered as indicators of the state of economic freedom. Contrary to some published findings, little evidence has been obtained that economic freedom significantly affects economic growth.

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