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Economic Freedom: Theory First, Empiricism After

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  • Judit Kapás

    ()

  • Pál Czeglédi

    ()

Abstract

The aim of this paper is to argue in favor of theoretically well-founded empirical examinations on how economic freedom affects economic performance, which is not the case, as we argue, in most of the huge empirical literature developed after the construction of various indexes of economic freedom. In this spirit we develop a concept of economic freedom based on Hayek (1960): absence of coercion except for state coercion to enforce known general rules. Trying to formulate Hayek’s ideas on a less abstract level, as a step further we propose a categorization of government actions, which gives us some guidance about which government actions hurt and which do not hurt economic freedom. Our concept of economic freedom allows us to conceptualize the measurement of economic freedom in a different way from the indexes of economic freedom.

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File URL: http://www.icer.it/docs/wp2007/ICERwp10-07.pdf
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Bibliographic Info

Paper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 10-2007.

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Length: 28 pages
Date of creation: Mar 2007
Date of revision:
Handle: RePEc:icr:wpicer:10-2007

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  1. Benson, Bruce L, 1999. " An Economic Theory of the Evolution of Governance and the Emergence of the State," The Review of Austrian Economics, Springer, vol. 12(2), pages 131-60, November.
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  15. Julio H. Cole & Robert A. Lawson, 2007. "Handling Economic Freedom in Growth Regressions: Suggestions for Clarification," Econ Journal Watch, Econ Journal Watch, vol. 4(1), pages 71-78, January.
  16. Heckelman, Jac C & Stroup, Michael D, 2002. "Which Economic Freedoms Contribute to Growth? Reply," Kyklos, Wiley Blackwell, vol. 55(3), pages 417-220.
  17. James D. Gwartney & Robert A. Lawson & Randall G. Holcombe, 1999. "Economic Freedom and the Environment for Economic Growth," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(4), pages 643-, December.
  18. Scully, Gerald W, 2002. " Economic Freedom, Government Policy and the Trade-Off between Equity and Economic Growth," Public Choice, Springer, vol. 113(1-2), pages 77-96, October.
  19. Jakob De Haan & Jan-Egbert Sturm, 2006. "How to Handle Economic Freedom: Reply to Lawson," Econ Journal Watch, Econ Journal Watch, vol. 3(3), pages 407-411, September.
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  21. 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.
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