ECONOMIC FREEDOM AND ECONOMIC PERFORMANCE IN FORMER SOCIALIST COUNTRIES - PANEL APPROACH
ECONOMIC FREEDOM AND ECONOMIC PERFORMANCE IN FORMER SOCIALIST COUNTRIES - PANEL APPROACH

Summary/Abstract: In this paper we will present the results of our survey on Economic Freedom, and impact of its individual categories on economic growth in former socialist countries which have joined the European Union (Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia). To measure economic freedom we will use The Index of Economic Freedom published by the Heritage Foundation in cooperation with the Wall Street Journal. We find that economic freedom has a positive, but statistically insignificant impact on economic performance. Our result also indicates that individual categories of the Economic Freedom have a different impact on economic performance.

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