In this study, the effect of economic freedoms on economic growth is tested with panel data analysis methods using annual data for the period 1995-2016 for BRIC-T countries (Brazil, Russia, India, China and Turkey). Model is estimated using economic growth, business freedom, monetary freedom, public expenditures, inflation and total trade (%, GDP) variables. According to the empirical analysis results obtained by panel data method, in the long run, the effect of economic freedoms on growth is positive whereas the effect of public expenditures and inflation on growth is negative. In the short-run analysis, the error correction term of model works so the short-term deviations between the series’ are disappearing in the long run.
In this study, the effect of economic freedoms on economic growth is tested with panel data analysis methods using annual data for the period 1995-2016 for BRIC-T countries (Brazil, Russia, India, China and Turkey). The model is estimated using economic growth, business freedom, monetary freedom, public expenditures, inflation and total trade (%, GDP) variables. According to the empirical analysis results obtained by panel data method, in the long run, the effect of economic freedoms on growth is positive while the effect of public expenditures and inflation on growth is negative. In the short-run analysis, the error correction term of model works so the short-term deviations between the series' are disappearing in the long run.
Dergi Türü : Uluslararası
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