The Nexus between Improvements in Economic Freedom and Growth: Evidence from CEE Countries in Transition

• Autorzy: Henryk Gurgul , Łukasz Lach
• Języki publikacji: EN

Abstrakty

EN

This study examines the causal links between improvements in economic freedom and changes in GDP per capita of new EU members in transition in the period 2000-2009. The empirical results suggest significant causality running from changes in monetary and fiscal freedom, trade openness, regulation of credit, labour, and business, legal structure and security of property rights, and access to sound money to movements in GDP per capita, especially in less and moderately developed CEE transition countries. Moreover, we find evidence that improvements in economic freedom are one of the main factors stimulating the convergence of these economies towards rich EU members. The evidence of causality in the opposite direction is much weaker. (original abstract)

Słowa kluczowe

EN

Economic growth; Economic freedom; Political and systemic transformations

PL

Wzrost gospodarczy; Wolność gospodarcza; Przekształcenia ustrojowo-systemowe

• Czasopismo: Central European Journal of Economic Modelling and Econometrics (CEJEME)
• Rocznik: 2011
• Tom: 3
• Numer: nr 3
• Strony: 133--168

Twórcy

autor

Henryk Gurgul

• AGH University of Science and Technology Kraków, Poland

autor

Łukasz Lach

• AGH University of Science and Technology Kraków, Poland

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Identyfikatory

DOI

DOI: 10.24425/cejeme.2011.119309