International Conference on Eurasian Economies
9-11 September 2015 – Kazan, RUSSIA
Paper detail
Paper ID : 1271
Status : Paper published
Language : Turkish
Topic : Growth and Development
Presenter: Ph.D. candidate Ömer Faruk Biçen
Session : 7E Kalkınma II
Economic Freedoms and Economic Growth: An Investigation on Emerging Market Economies
Ekonomik Özgürlükler ve Ekonomik Büyüme: Yükselen Piyasa Ekonomileri Üzerine Bir İnceleme
- Prof. Dr. Bedriye Tunçsiper (İzmir Demokrasi University, Türkiye)
- Ph.D. candidate Ömer Faruk Biçen (Balıkesir University, Türkiye)
Abstract
The common view in the economics theory relating to the fact that economic freedom will raise labor productivity and it will provide effective use of scarce resources becomes a current issue with the increase in the number of papers investigating the effect of economic freedom on economic growth. One of the main reasons of the increasing number of those papers is that economic freedom can be measured quantitatively (numerically) through the indexes calculated by various institutions. In this paper, the relationship between economic freedoms and economic growth for some emerging market economies is investigated. In estimating of the relationship between economic freedoms and economic growth, overall economic freedom index, property right index, business freedom index, trade freedom index and investment freedom index, which was created by the Heritage Foundation was used. Investment/GDP ratio and population dependency ratio are also control variables in the model. In the paper, in which panel fixed effect model was used, property right index, investment freedom index and population dependency ratio affect economic growth negatively, but business freedom index, trade freedom index and investment/GDP ratio affect economic growth positively. It isn’t found that there is a significantly relationship between overall economic freedom index and economic growth.
JEL codes: C33, O47
Tunçsiper, Bedriye, Biçen, Ömer Faruk (2015). "Economic Freedoms and Economic Growth: An Investigation on Emerging Market Economies" in Proceedings of International Conference of Eurasian Economies 2015, pp.884-889, Kazan, RUSSIA.
DOI: https://doi.org/10.36880/C06.01271
