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10.5937/industrija42-5850 = Does economic freedom impact economic growth: Evidence from two Western Balkan countries

Zoran Borović

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Abstract

In this paper we will present the results of our survey on economic freedom, and its impact on economic growth in Bosnia and Herzegovina and Republic of Croatia. To measure economic freedom we will use the Index of Economic Freedom published by the Heritage Foundation in cooperation with the Wall Street Journal. Our basic assumption is that increase of the economic freedom will lead to the real GDP growth. To test our assumption, we will use the regression analysis. We find that economic freedom has strong but different impact on GDP growth for both countries.

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What this paper is about

In this paper we will present the results of our survey on economic freedom, and its impact on economic growth in Bosnia and Herzegovina and Republic of Croatia. To measure economic freedom we will use the Index of Economic Freedom published by the Heritage Foundation in cooperation with the Wall Street Journal. Our basic assumption is that increase of the economic freedom will lead to the real GDP growth. To test our assumption, we will use the regression analysis. We find that economic freedom has strong but different impact on GDP growth for both countries.

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Available abstract

In this paper we will present the results of our survey on economic freedom, and its impact on economic growth in Bosnia and Herzegovina and Republic of Croatia. To measure economic freedom we will use the Index of Economic Freedom published by the Heritage Foundation in cooperation with the Wall Street Journal. Our basic assumption is that increase of the economic freedom will lead to the real GDP growth. To test our assumption, we will use the regression analysis. We find that economic freedom has strong but different impact on GDP growth for both countries.

Key concepts: Economic freedom, Index of Economic Freedom, Index (typography), Economics, Real gross domestic product, Development economics, Macroeconomics, Market economy

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