Economic freedom, peace and violent conflict

Tim Krieger and Daniel Meierrieks

Chapter 24 in Handbook of Research on Economic Freedom, 2024, pp 357-371 from Edward Elgar Publishing

Abstract: This chapter investigates the links between economic freedom and violent conflict. After discussing theoretical arguments that relate economic freedom to various types of violent conflict, ranging from small-scale terrorist activity to large-scale civil and interstate wars, we confront theoretical predictions with empirical evidence from various empirical studies. In summary, we find substantial empirical support that the long-run benefits to the promotion of pro-market institutions contributes to external and internal peace and stability beyond mere economic gains. This ought to create additional incentives for policymakers to facilitate economic freedom. At the same time, we discuss shortcomings of the existing literature as well as challenges to the mainstream view of a positive link between economic freedom and peace, thereby pointing to potential avenues of future research.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2024
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