We examine the relationship between government size and economic growth, controlling for economic freedom and globalization, and using Bayesian Averaging over Classical Estimates in a panel of rich countries. Countries with big government have experienced above average increases in the KOF globalization index and in the Fraser institute’s Economic freedom index. To maintain comparability with e...

This paper investigates how financial, trade, institutional and political liberalization policies have affected financial efficiency in Africa. It uses updated data to appraise second generation reforms in order to gather fresh evidence and derive more updated policy implications. The ‘freedom to trade’ and ‘economic freedom’ indices are also employed. The following findings are established. (1...

The target article's climato-economic theory will benefit by allowing for bidirectional effects and the heterogeneity of types of freedom, in order to more fully capture the coevolution of societal wealth and freedom. We also suggest alternative methods of testing climato-economic theory, such as longitudinal analyses of these countries' histories and micro-level experiments of each of the theo...

Scholars and policy makers believe that democracy will bring prosperity through integration into the global economy via increased international trade. This study tests two theories as to why democracies might trade more. First, political freedom may be correlated with economic freedom, thus prompting higher levels of economic activity, thereby driving states to trade more. Second, democracy imp...

A scientific, economic relationship among self, society and nation is still not clearly known in philosophy, sociology and economics because of lack of concrete historical human data that would enable to substantiate it. Humanity experienced many conflicting economic and political systems. Consequently, philosophers, sociologists and economists have been investigating to study the economic rela...

This paper argues for the necessity and potential of introducing Schumpeter’s understanding of economic development as structural change into Amartya Sen’s peopleoriented development as freedom approach. Sen and other authors on social choice, human development and inequality have effectively promoted – through the United Nations Development Programme that the expansion of human agency, well-be...

Despite limited study in recent years, entrepreneurship plays a crucial role in economic growth, both in society at large and within specific ommunities. 2 In a capitalist market economy, firms initiate and coordinate a wide range of ongoing economic activity, and have increasingly been the site of innovation. The formation and nurturing of firms, of organizations which can create and sustain e...