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The aim of this study is to investigate the relationship between economic freedoms, economic growth and industrialization with Westerlund panel cointegration and Dumitrescu and Hurlin (2012) panel causality tests based on the data set for the period 2004-2021 in E-7 countries.. According to the econometric findings of the study; A reciprocal causality relationship was found between industrialization and economic growth in Brazil. For the other 6 countries, it is seen that there is no causal relationship between industrialization and economic growth. When the relationship between economic freedom and growth is examined, it is seen that economic growth is not the reason for economic freedom in any country, and economic freedom is the reason for growth in Indonesia. Considering the relationship between industrialization and economic freedom, economic freedom causes industrialization in China and Mexico, while industrialization causes economic freedom in Brazil and Russia. In other countries, there is no causality between industrialization and economic freedom.
The aim of this study is to explore the relationship between economic freedoms, economic growth and industrialization in the E-7 countries through the data set for the period 2004-2021 with the Westerlund panel integration and the Dumitrescu and Hurlin (2012) panel causality tests. According to the study’s econometric findings, a mutual causal relationship between industrialization and economic growth in Brazil has been identified. For the other six countries, there is no causal relationship between industrialization and economic growth. When the relationship between economic freedom and growth is studied, economic growth is not the cause of economic freedom in any country, but the cause of economic freedom in Indonesia is the cause of growth. When it comes to the relationship between industrialization and economic freedom, in China and Mexico, economic freedom leads to industrialization, and in Brazil and Russia, industrialization leads to economic freedom. In other countries there is no reason between industrialization and economic freedom.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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