The Impact of Economic Freedom on Economic Growth? New European Dynamic Panel Evidence

被引：29

作者：

Brkic, Ivana ^{[1
]}

Gradojevic, Nikola ^{[2
,3
]}

Ignjatijevic, Svetlana ^{[1
]}

机构：

[1] Univ Business Acad Novi Sad, Fac Econ & Engn Management Novi Sad, Novi Sad 21000, Serbia

[2] Univ Guelph, Lang Sch Business & Econ, Guelph, ON N1G 2W1, Canada

[3] Univ Novi Sad, Fac Tech Sci, Novi Sad 21000, Serbia

来源：

JOURNAL OF RISK AND FINANCIAL MANAGEMENT | 2020年 / 13卷 / 02期

关键词：

economic freedom; economic growth; Europe; panel analysis; subprime crisis; system GMM; REGULATORY QUALITY; INCOME; COMPONENTS; DEMOCRACY;

D O I：

10.3390/jrfm13020026

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper analyzes the impact of economic freedom along with traditional economic factors on economic growth for a panel of European countries. The growth of the gross domestic product was observed over a twenty-year time period on a sample of 43 developing and developed countries. Based on a robust dynamic panel setting, we conclude that increases in economic freedom as expressed by the Index of Economic Freedom/Heritage Foundation (but not its levels) are related to economic growth. The EU membership status either had no effect or it curbed the effect of the economic freedom on growth. We also find that the subprime economic crisis of 2008-2009 exerted a negative impact on the growth of European economies.

引用

页数：13

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