FROM ECONOMIC FREEDOM TO PROSPERITY. AN ILLUSTRATION ACROSS EUROPE (1)

Gabriel Staicu (), Cosmin Marinescu and Liviu Moraru
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Cosmin Marinescu: Bucharest Academy of Economic Studies
Liviu Moraru: Bucharest Academy of Economic Studies

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 322-328

Abstract: Many empirical studies show an organic connection between economic freedom and prosperity. Thus, the quality of economic and political institutions existing in a country must be assessed considering their capacity to promote private property and economic freedom. This paper analyses the evolution of economic freedom in some countries, members of European Union. The main conclusion is that the framework for development „more market and less government” is the best way to promote prosperity within our society. Thus, we can deduce the necessity of bringing forward some suggestion and debates about institutional reformes in the European area.

Keywords: economic development; economic freedom; institutions; institutional reform; market economy. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:322-328

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