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Journal of Applied Sciences
  Year: 2007 | Volume: 7 | Issue: 11 | Page No.: 1484-1489
DOI: 10.3923/jas.2007.1484.1489
 
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The Impact of Democratic and Economic Freedom on Economic Growth in Developing Countries: Pooled Cross Country Data Evidence

Selvarathinam Santhirasegaram

Abstract:
Main objective of this study is to investigate that whether free economic and political policies promote economic growth in developing countries or not. This study employs least square quantitative methodology to estimate the effects of freedoms. This study found a strong negative relationship between political freedom and economic growth in more than 70 developing countries from all regions during 2000-2004 by using an econometric model based on new classical growth theory. Economic freedom is negatively related with economic growth, but has no significant effect. Freedom for joint collective decision of people for selecting central leadership in developing countries is challenge for achieving rapid economic growth. These results differ from most of existing literatures and policy prescriptions on that positive role of democratic and economic freedom for economic growth which is precondition of economic development.
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How to cite this article:

Selvarathinam Santhirasegaram , 2007. The Impact of Democratic and Economic Freedom on Economic Growth in Developing Countries: Pooled Cross Country Data Evidence. Journal of Applied Sciences, 7: 1484-1489.

DOI: 10.3923/jas.2007.1484.1489

URL: https://scialert.net/abstract/?doi=jas.2007.1484.1489

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