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The Impact of Economic Freedom on Economic Growth in the SADC: An Individual Component Analysis

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  • Vsevolod I. Gorlach and Pierre Le Roux
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    Abstract

    The SADC is attempting to achieve development and economic growth. This paper investigates the relationship between economic freedom – in aggregate and on an individual component basis – on economic growth in the SADC. The annual data for 13 SADC countries from 2000 to 2009 are used to construct a generalised method of moments, dynamic panel-data model. When cross-sectional dependence of the error term, individual- and time-specific effects are controlled, economic freedom and GDP per capita are positively related and freedom Granger-causes growth. All five individual components are highly significant and are positively related to growth; however, the magnitude of the elasticity parameters varies. The causality among the individual freedom components indicates that linkages exist between certain of these components.

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    File URL: http://www.econrsa.org/node/654
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    Bibliographic Info

    Paper provided by Economic Research Southern Africa in its series Working Papers with number 327.

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    Length: 21 pages
    Date of creation: 2013
    Date of revision:
    Handle: RePEc:rza:wpaper:327

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    Keywords: Economic freedom; economic growth; SADC; causality; elasticity;

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