Abstract

COLE, Julio H.. Economic Freedom and World Economic Growth: Evidence and Implications. rlde [online]. 2005, n.5, pp.101-125. ISSN 2074-4706.

The purpose of this study is to explain the statistical variation in economic growth rates in a broad cross-section of countries, over the period 1980-1999. This problem will be addressed within the framework of the so-called "growth-regression" approach, which seeks to explain this variation by relating economic growth to a list of potential explanatory variables. A large number of studies published since the early 1 990's have been based on the so-called "neo-classical theory of economic growth," and this approach will be followed as a first approximation, though the main purpose of the paper is to evaluate the incremental explanatory power of several additional variables not usually contemplated in the conventional neo-classical approach.

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