THE IMPACT OF ECONOMIC FREEDOM ON GROWTH PROSPECTS OF SOUTHEAST EUROPEAN COUNTRIES
THE IMPACT OF ECONOMIC FREEDOM ON GROWTH PROSPECTS OF SOUTHEAST EUROPEAN COUNTRIES

Summary/Abstract: The main purpose of this study is to investigate the impact of economic freedom on the economic growth of southeast European countries. The period of the study includes years from 2000-2019. For this purpose, we apply different estimation methodologies; OLS, fixed and random effects model, and instrumental (IV) variable model. The results suggest a positive impact of economic freedom and freedom to trade index on the GDP growth and a negative impact of regulations on SEE countries GDP. The policy implications of the study are expected to enhance the already reinforced relevant institutional policies aimed at enhancing the EU approximation path of the selected SEE countries into the European Union, thus, speeding up the real convergence of the selected SEE countries into European Union political and economic structure.

• Details
• Contents