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Theory and evidence on economic freedom and economic growth: A comment

  • Joshua Hall

    ()

    (Beloit College)

  • Robert Lawson

    ()

    (Auburn University)

Altman (2007) examines the impact of economic freedom, including its various component parts, on aggregate economic performance across countries. He claims that some of the component parts of economic freedom, measured primarily with the Economic Freedom of the World index, are correlated positively with higher levels of per capita income and growth while others are not. He also attempts to identify "threshold effects" within the data that indicate differential impacts of economic freedom on economic performance at different levels. Although both questions are worthwhile, ultimately his efforts are unconvincing for both theoretical and empirical reasons which we discuss.

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Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 15 (2008)
Issue (Month): 18 ()
Pages: 1-6

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Handle: RePEc:ebl:ecbull:eb-08o00006
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  1. Peter Lindert, 2003. "Why The Welfare State Looks Like a Free Lunch," Working Papers 27, University of California, Davis, Department of Economics.
  2. Andreas Bergh, 2006. "Is the Swedish Welfare State A Free Lunch?," Econ Journal Watch, Econ Journal Watch, vol. 3(2), pages 210-235, May.
  3. Konstantinos Angelopoulos & Apostolis Philippopoulos & Efthymios Tsionas, 2007. "Does public sector efficiency matter? Revisiting the relation between fiscal size and economic growth in a world sample," Working Papers 2007_30, Business School - Economics, University of Glasgow.
  4. Berggren, Niclas & Jordahl, Henrik, 2005. "Free to Trust? Economic Freedom and Social Capital," Working Paper Series 2005:2, Uppsala University, Department of Economics.
  5. Robert A. Lawson, 2006. "On Testing the Connection between Economic Freedom and Growth," Econ Journal Watch, Econ Journal Watch, vol. 3(3), pages 398-406, September.
  6. Morris Altman, 2008. "How much economic freedom is necessary for economic growth? Theory and evidence," Economics Bulletin, AccessEcon, vol. 15(2), pages 1-20.
  7. Jakob De Haan & Susanna Lundström & Jan-Egbert Sturm, 2006. "Market-oriented institutions and policies and economic growth: A critical survey," Journal of Economic Surveys, Wiley Blackwell, vol. 20(2), pages 157-191, 04.
  8. Jac C. Heckelman, 2000. "Economic Freedom and Economic Growth: A Short-run Causal Investigation," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 71-91, May.
  9. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
  10. John W. Dawson, 2001. "Causality in the Freedom-Growth Relationship," Working Papers 01-04, Department of Economics, Appalachian State University.
  11. Heckelman, Jac C & Stroup, Michael D, 2000. "Which Economic Freedoms Contribute to Growth?," Kyklos, Wiley Blackwell, vol. 53(4), pages 527-44.
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