Does economic freedom promote financial development? Evidence from EU countries

Q4 Mathematics

Statistics in Transition Pub Date : 2023-06-13 DOI:10.59170/stattrans-2023-043

Anand Sharma, Vipin Sharma, Shekhar Tokas

引用次数: 0

Abstract

This study empirically investigates the relationship between economic freedom and financial development in EU countries. Using panel data covering the years 2000–2017 and employing fixed effects, random effects, and the generalised method of moments (GMM), the paper examines the effect of economic freedom on financial development. The research results demonstrate that greater economic freedom is conducive to financial development in the EU. These findings remain robust to the use of an alternative index of economic freedom. The results imply that policies which promote economic freedom are likely to raise the level of a country’s financial development.

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经济自由促进金融发展吗?来自欧盟国家的证据

本文对欧盟国家经济自由与金融发展之间的关系进行了实证研究。本文利用2000-2017年的面板数据，采用固定效应、随机效应和广义矩量法(GMM)，检验了经济自由对金融发展的影响。研究结果表明，较大的经济自由度有利于欧盟的金融发展。使用另一种衡量经济自由的指标，这些发现仍然是强有力的。结果表明，促进经济自由的政策可能会提高一个国家的金融发展水平。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Statistics in Transition Decision Sciences-Statistics, Probability and Uncertainty

CiteScore

1.00

自引率

0.00%

发文量

审稿时长

9 weeks

期刊介绍： Statistics in Transition (SiT) is an international journal published jointly by the Polish Statistical Association (PTS) and the Central Statistical Office of Poland (CSO/GUS), which sponsors this publication. Launched in 1993, it was issued twice a year until 2006; since then it appears - under a slightly changed title, Statistics in Transition new series - three times a year; and after 2013 as a regular quarterly journal." The journal provides a forum for exchange of ideas and experience amongst members of international community of statisticians, data producers and users, including researchers, teachers, policy makers and the general public. Its initially dominating focus on statistical issues pertinent to transition from centrally planned to a market-oriented economy has gradually been extended to embracing statistical problems related to development and modernization of the system of public (official) statistics, in general.