This article analyzes the impact of economic freedom on economic growth, considering the influence of regulatory quality (RQ). Bayesian linear regression on 54 countries (2008-2022), grouped by high/low RQ, reveals a positive effect of economic freedom on growth regardless of RQ. Vietnam's analysis shows no significant difference from other countries, but control variables (corruption control, financial development) reveal group differences. Vietnam shows contrasting effects for education expenditure, inflation, fixed capital formation, and population growth compared to other countries. Policy implications focus on strengthening economic freedom.
Publisher
Humanities and Social Sciences Communications
Published On
Sep 17, 2024
Authors
Nguyen Tan Hung, Tran Thi Kim Oanh, Chu Thi Thanh Trang
Tags
economic freedom
economic growth
regulatory quality
Vietnam
Bayesian linear regression
policy implications
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