THE IMPACT OF THE POLITICAL LIBERALIZATION-ECONOMIC FREEDOM NEXUS ON ECONOMIC GROWTH, 1970-2000

Yun-Peng Chu and Tuan-Yuen Kong

Applied Econometrics and International Development, 2009, vol. 9, issue 2

Abstract: The role of institutions in economic growth has recently begun to receive greater attention in academic circles. Although the impact of institutions has been acknowledged by most, definitive conclusions still remain a question, particularly given the problem of endogeneity. We use panel least squares estimation to consider the nexus between political liberalization and economic freedom. We seek to avoid the problem of endogeneity as well as examine the different aspects of institutional roles. We find conclusions for different aspects when controlling political liberalization or economic freedom.

Keywords: Political liberalization; Economic freedom; Economic growth (search for similar items in EconPapers)
JEL-codes: O43 O57 (search for similar items in EconPapers)
Date: 2009
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