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- Title
EMPIRICAL APPROACH OF THE ESTIMATION OF THE EFFECTS OF ECONOMIC FREEDOM ON ECONOMIC GROWTH IN WESTERN BALKANS.
- Authors
Madzova, Violeta; Sulejmani, Liza Alili
- Abstract
Nowadays, economic freedom it is seen as a catalyst for enhancing economic growth, which de facto will return to produce even more economic freedom in the economy. Certainly, there is no doubt about the significant direct and indirect effect of the economic freedom on the growth of both developed and developing countries, where empirical evidence claims a strong positive association among these two variables. Thus, having into consideration the emphasizes of the research of this nexus in the past decade and the highlighted importance of the economic freedom in enhancing the economic growth, a panel of total 6 countries in the region of Western Balkans, for the time -period 2000 – 2022 has been conducted. In this regard, several techniques have been used, such as Ordinary Least Square, Fixed effects and Random effects model. Finally, the results reveal that there exists a strong negative association between economic freedom index and GDP per capita in these countries in the countries of Western Balkans, for the last two decades.
- Subjects
BALKAN Peninsula; EMPIRICAL research; ECONOMIC development; ECONOMIC policy; DEVELOPING countries
- Publication
Knowledge: International Journal, 2022, Vol 55, Issue 1, p15
- ISSN
2545-4439
- Publication type
Article