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The Path of Liberalization and Economic Growth

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  • Pitlik, Hans

Abstract

Empirical research has shown that both more economic freedom and a higher stability of policy variables are supportive for economic growth. Thus, the path of policy liberalization may have a considerable influence on a nation's growth performance. Using the Fraser-index of economic freedom, this article shows empirically that policy volatility proves to be growth depressing, even if the state liberalizes the economy in the long-run. Growth is significantly higher if liberalization occurs on a smoother path. Copyright 2002 by WWZ and Helbing & Lichtenhahn Verlag AG

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 55 (2002)
Issue (Month): 1 ()
Pages: 57-79

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Handle: RePEc:bla:kyklos:v:55:y:2002:i:1:p:57-79

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Cited by:
  1. Rode, Martin & Gwartney, James D., 2012. "Does democratization facilitate economic liberalization?," European Journal of Political Economy, Elsevier, vol. 28(4), pages 607-619.
  2. José Aixalá & Gema Fabro, 2009. "Economic freedom, civil liberties, political rights and growth: a causality analysis," Spanish Economic Review, Springer, Springer, vol. 11(3), pages 165-178, September.
  3. Kronthaler, Franz & Knedlik, Tobias, 2007. "Forced to Freedom? Empirical relations between aid and economic freedom," Proceedings of the German Development Economics Conference, Göttingen 2007 19, Verein für Socialpolitik, Research Committee Development Economics.
  4. John W. Dawson, 2003. "Regulation, Investment, and Growth Across Countries," Working Papers, Department of Economics, Appalachian State University 03-10, Department of Economics, Appalachian State University, revised 2006.
  5. I Kadek Dian Sutrisna Artha & Jakob de Haan, 2011. "Labor Market Flexibility and the Impact of the Financial Crisis," DNB Working Papers, Netherlands Central Bank, Research Department 280, Netherlands Central Bank, Research Department.
  6. Webster, A.L., 2013. "Is There Feed-Back Between Economic Freedom and Economic Growth: A Comparative Granger-Causality Test Based On Quartiles," Applied Econometrics and International Development, Euro-American Association of Economic Development, Euro-American Association of Economic Development, vol. 13(1), pages 11-24.
  7. Jakob de Haan & Susanna Lundstroem & Jan-Egbert Sturm, 2005. "Market oriented institutions and policies and economic growth: A critical survey," TWI Research Paper Series 5, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
  8. Kuloglu, Ayhan & Lobont, Oana-Ramona & Topcu, Mert, 2012. "A question of causality between political corruption, economic freedom and economic growth in Europe," MPRA Paper 40365, University Library of Munich, Germany.
  9. Vatcharin Sirimaneetham, 2006. "Explaining policy volatility in developing countries," Bristol Economics Discussion Papers 06/583, Department of Economics, University of Bristol, UK.
  10. Berggren, Niclas, 2003. "The Benefits of Economic Freedom: A Survey," Ratio Working Papers, The Ratio Institute 4, The Ratio Institute.
  11. Doucouliagos, Chris & Ulubasoglu, Mehmet Ali, 2006. "Economic freedom and economic growth: Does specification make a difference?," European Journal of Political Economy, Elsevier, vol. 22(1), pages 60-81, March.
  12. Heckelman, Jac C. & Stroup, Michael D., 2005. "A comparison of aggregation methods for measures of economic freedom," European Journal of Political Economy, Elsevier, vol. 21(4), pages 953-966, December.
  13. Martin Rode & Sebastian Coll, 2012. "Economic freedom and growth. Which policies matter the most?," Constitutional Political Economy, Springer, Springer, vol. 23(2), pages 95-133, June.
  14. Pitlik, Hans & Wirth, Steffen, 2003. "Do crises promote the extent of economic liberalization?: an empirical test," European Journal of Political Economy, Elsevier, vol. 19(3), pages 565-581, September.
  15. Apergis, Nicholas & Dincer, Oguzhan C. & Payne, James E., 2012. "Live free or bribe: On the causal dynamics between economic freedom and corruption in U.S. states," European Journal of Political Economy, Elsevier, vol. 28(2), pages 215-226.

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