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The Two Freedoms, Economic Growth and Development: An Empirical Study

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  • Wu, Wenbo
  • Davis, Otto A
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Abstract

Log-linear methods are applied to categorical data containing economic freedom, political freedom, the level of income, and the rate of economic growth for a panel of about 100 countries from 1975 to 1992. The main results are: given economic freedom, the rate of economic growth is independent of political freedom and the level of income; given the level of income, political freedom is independent of economic freedom and the growth rate. The analysis suggests the fundamental effects of economic freedom in fostering economic growth, and a high level of income as the condition of a high degree of political freedom. Copyright 1999 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 100 (1999)
Issue (Month): 1-2 (July)
Pages: 39-64

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Handle: RePEc:kap:pubcho:v:100:y:1999:i:1-2:p:39-64

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Web page: http://www.springerlink.com/link.asp?id=100332

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Cited by:
  1. Eatzaz Ahmad & Muhammad Zakaria, 2011. "Openness and Democracy: Some Evidence from Pakistan," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 175-185.
  2. Gurgul, Henryk & Lach, Łukasz, 2013. "Political instability and economic growth: Evidence from two decades of transition in CEE," MPRA Paper 52230, University Library of Munich, Germany.
  3. Gugler, Klaus & Mueller, Dennis C. & Peev, Evgeni & Segalla, Esther, 2013. "Institutional determinants of domestic and foreign subsidiaries’ performance," International Review of Law and Economics, Elsevier, vol. 34(C), pages 88-96.
  4. CHU, Yun-Peng & KONG, Tuan-Yuen, 2009. "The Impact Of The Political Liberalization-Economic Freedom Nexus On Economic Growth, 1970-2000," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(2).
  5. Konstantin Yanovsky & Sergey Zhavoronkov & Ilia Zaycovetsky, 2014. "Democracy: a Conflict Extinguisher or a Fuel for Terror?," Working Papers 0100, Gaidar Institute for Economic Policy, revised 2014.
  6. de Haan, Jakob & Sturm, Jan-Egbert, 2003. "Does more democracy lead to greater economic freedom? New evidence for developing countries," European Journal of Political Economy, Elsevier, vol. 19(3), pages 547-563, September.
  7. Kapás, Judit & Czeglédi, Pál, 2011. "Gazdasági szabadság, politikai szabadság és a társadalmi rendek
    [Economic freedom, political freedom, and social orders]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 485-510.
  8. Uwe Sunde, 2006. "Wirtschaftliche Entwicklung und Demokratie - Ist Demokratie ein Wohlstandsmotor oder ein Wohlstandsprodukt?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 7(4), pages 471-499, November.
  9. Matteo Cervellati & Piergiuseppe Fortunato & Uwe Sunde, 2008. "Hobbes to Rousseau: Inequality, Institutions and Development," Economic Journal, Royal Economic Society, vol. 118(531), pages 1354-1384, 08.
  10. Berggren, Niclas, 2003. "The Benefits of Economic Freedom: A Survey," Ratio Working Papers 4, The Ratio Institute.
  11. Lawson, Robert A. & Clark, J.R., 2010. "Examining the Hayek-Friedman hypothesis on economic and political freedom," Journal of Economic Behavior & Organization, Elsevier, vol. 74(3), pages 230-239, June.
  12. 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.
  13. Rode, Martin & Gwartney, James D., 2012. "Does democratization facilitate economic liberalization?," European Journal of Political Economy, Elsevier, vol. 28(4), pages 607-619.
  14. Chortareas, Georgios E. & Girardone, Claudia & Ventouri, Alexia, 2013. "Financial freedom and bank efficiency: Evidence from the European Union," Journal of Banking & Finance, Elsevier, vol. 37(4), pages 1223-1231.
  15. Keef, Stephen P. & Khaled, Mohammed & Zhu, Hui, 2009. "The dynamics of the Monday effect in international stock indices," International Review of Financial Analysis, Elsevier, vol. 18(3), pages 125-133, June.
  16. Khalid Mahmood & Toseef Azid, 2011. "Economic Freedom Verses Economic Growth: Cross Countries Analysis in the form of ARDL approch," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 1(1), pages 14-25, March.
  17. Konstantin Yanovsky & Daniel Shestakov & Tatiana Letunova, 2014. "Family Crisis: Reference Materials," Working Papers 0101, Gaidar Institute for Economic Policy, revised 2014.
  18. Yongjing Zhang, 2012. "China’s evolution toward an authoritarian market economy—a predator–prey evolutionary model with intelligent design," Public Choice, Springer, vol. 151(1), pages 271-287, April.

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