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Economic Freedom ad World Economic Growth: Evidence and Implications

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  • Cole, Julio H.

    (Universidad Francisco Marroquin, Guatemala)

Abstract

The purpose of this study is to explain the statistical variation in economic growth rates in a broad cross-section of countries, over the period 1980-1999. This problem will be addressed within the framework of the so-called "growth-regression" approach, which seeks to explain this variation by relating economic growth to a list of potential explanatory variables. A large number of studies published since the early 1990's have been based on the so-called "neo-classical theory of economic growth." and this approach will be followed as a first approximation, though the main purpose of the paper is to evaluate the incremental explanatory power of several additional variables not usually contemplated in the conventional neo-classical approach.

Suggested Citation

  • Cole, Julio H., 2005. "Economic Freedom ad World Economic Growth: Evidence and Implications," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB) "San Pablo", issue 5, pages 101-125, Octubre.
    • Handle: RePEc:ris:revlde:0504
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    Cited by:

    1. Masatlioglu Yusufcan & Rigolini Jamele, 2008. "Informality Traps," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 8(1), pages 1-24, December.
    2. Falguni Pattanaik & Narayan Nayak, 2014. "Economic freedom and economic growth in India: What is the empirical relationship?," Economic Change and Restructuring, Springer, vol. 47(4), pages 275-298, November.

    More about this item

    Keywords

    World; Economic; Growth;
    All these keywords.

    JEL classification:

    • Z00 - Other Special Topics - - General - - - General

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