EXAMINING FRIEDMAN HYPOTHESIS ON POLITICAL, CIVIL AND ECONOMIC FREEDOM FOR SAARC COUNTRIES: A DYNAMIC PANEL DATA ANALYSIS | Zendy

M. ZAKIR SAADULLAH KHAN | Zendy

Open Access

EXAMINING FRIEDMAN HYPOTHESIS ON POLITICAL, CIVIL AND ECONOMIC FREEDOM FOR SAARC COUNTRIES: A DYNAMIC PANEL DATA ANALYSIS

Author(s) -

M. ZAKIR SAADULLAH KHAN

Publication year - 2012

Publication title -

journal of economic development

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.178

H-Index - 3

eISSN - 2636-0578

pISSN - 0254-8372

DOI - 10.35866/caujed.2012.37.3.005

Subject(s) - panel data , economics , politics , panel analysis , economic freedom , econometrics , international economics , macroeconomics , political science , law , market economy

This paper empirically examines the Friedman hypothesis on political, civil and economic freedom that, a country can have a high degree of civil freedom, and a high degree of economic freedom without any political freedom, but can not have any political freedom if it does not have some degree of civil and economic freedom. Using panel data of five SAARC countries over the period 1995-2011, the dynamic panel data econometric techniques and Granger-causality tests validated the Friedman hypothesis regarding economic and political freedom, but regarding civil and political freedom the reverse is found true. The estimates of the empirical model using UECM show that economic freedom has significant short-run and long-run effects in improving the political freedom in the SAARC region.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research