Andrea, V and Elena, F. Impact of Economic Freedom on Economic Development: A Nonparametric Approach to Evaluation. European Scientific Journal (ISSN: 1857-7881), 216-226, 2016

Abstract

The article examined the impact of economic freedom on the economic development of European countries. The author assessed the degree of achievement of economic freedom in various countries based on their level of economic performance. For this purpose, the data of the Heritage Foundation was employed. The nonparametric method-data analysis was used during the research. The result of the study confirmed that the quality of institutions, economic performance, and economic freedom have positive correlations.