Economic Freedom ad World Economic Growth: Evidence and Implications

Julio H. Cole
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Julio H. Cole: Universidad Francisco Marroquin, Guatemala

Revista Latinoamericana de Desarrollo Economico, 2005, issue 5, 101-125

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.

Keywords: World; Economic; Growth (search for similar items in EconPapers)
JEL-codes: Z00 (search for similar items in EconPapers)
Date: 2005
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