Economic Freedom and Economic Growth in South East Europe |
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Authors: | Veselin Vukotić Maja Baćović |
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Institution: | (1) Faculty of Economics, , Podgorica, Serbia and Montenegro;(2) Institute for Strategic Studies and Prognoses, Podgorica, Serbia and Montenegro |
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Abstract: | Economic freedom, understood as absence of barriers for business entry, business operations and business exit, is a source
of economic development. Its impact is indirect: through institutions framework creation and environment that encourages economic
development. Primarily, economic freedoms are a reflection of institutional arrangement, which makes business operations and
the realization of business ideas easier for entrepreneurs and managers, who are two extremely important groups for economic
development. The aim of the paper is to present empirical analysis of interrelation between economic freedom and economic
development, expressed through several indicators, such as gross domestic product, income per capita, foreign direct investment
per capita. |
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Keywords: | economic freedom economic development economic growth foreign direct investment market institutions |
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