Economic freedom and growth, income, investment, and inequality: A quantitative summary of the literature

Robert Lawson, Vincent Miozzi and Meg Tuszynski

Southern Economic Journal, 2024, vol. 90, issue 4, 1099-1135

Abstract: This study examines the published estimates on the relationship between economic freedom, as measured by the Economic Freedom of the World (EFW) index, and measures of growth, income, investment, and inequality. We obtained 696 point estimates for economic freedom‐growth from 54 articles, 386 estimates for economic freedom‐income from 23 articles, 343 estimates for economic freedom‐investment from 32 articles, and 759 estimates for economic freedom‐inequality from 26 articles. The published estimates support the view that economic freedom is positively related to growth, income, and investment. The level of economic freedom appears to be simply unrelated to inequality, though increases in economic freedom may correlate with higher inequality.

Date: 2024
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https://doi.org/10.1002/soej.12680

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Persistent link: https://EconPapers.repec.org/RePEc:wly:soecon:v:90:y:2024:i:4:p:1099-1135

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