Economic Freedom and Economic Growth in Developing Countries

By

ACKNOWLEDGEMENTS

I would like to take this chance for thanking my research facilitator, friends and family for support they provide, their belief in me as well as the guidance they provided me, without that I would have never been able to do this research.

DECLARATION

I, (Your name), would like to declare that all contents included in this dissertation stand for my individual work without any aid, & this dissertation has not been submitted for any examination at academic as well as professional level previously. It also represents my own views & not essentially the ones associated with university.

Signed __________________ Date _________________

TABLE OF CONTENTS

ACKNOWLEDGEMENTSii

DECLARATIONiii

CHAPTER 1: INTRODUCTION1

Background of the Study1

Problem Statement1

Aims of the Study2

Objectives of the Study2

CHAPTER 2: LITERATURE REVIEW3

Economic Growth and Economic Freedom3

Concept of Economic Freedom3

Past Researches4

Political Freedom and Economic Freedom4

CHAPTER 3: METHODOLOGY6

Research Methodology6

Methodological Approach6

Research Approach7

Justification of Research Method7

Data collection Techniques8

Data Collection8

REFERENCES9

CHAPTER 1: INTRODUCTION

Background of the Study

The economic freedom and economic growth are the two important considerations in the present world that provide the countries to enjoy special importance with their region. However the concept of the economic freedom and the economic growth are largely associated with the economic resources a country possess. The economic resources play an important role in maintaining economic freedom within the region. The study on the economic freedom is mainly related with the society that is free to use the economic resources and optimize the needs of its citizen in an effective manner.

Statistical studies of economic growth have gone beyond the Solow model to seek many more factors of economic growth. Staying within the framework of the Solow neoclassical production function, the model can be improved by incorporating a number of additional determining variables of economic growth. Recent studies by Levine and Renelt (1992) and by Sala-I-Martin (1997) have shown that there is a high degree of “robustness” in statistical models using a number of institutional variables as determinants of economic growth such as a democracy index, the rule of law, international trade and others.

Problem Statement

The economic freedom and the economic growth are the important concepts in the economic conditions of the country. The economic freedom is usually possessed by the countries at the same time as one comes at the expense of the other. The study will mainly look into the past studies and will try to explore the strong relationship between the two by looking into the independence of each on the other.

Aims of the Study

The aim of the study is to look into the factors that affect the economic freedom and economic growth of the countries particularly in their developing phase. The developing countries are usually lacking the economic resources that are considered to be very important for the economic freedom and the economic growth of the country. The aim of the study is to analyse the relationship between the economic growth and the economic freedom and to look into the relationship between the two through various perspective.

Objectives of the Study

The objectives of the study ...