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Economic freedom, democracy and inclusive growth: An empirical study for eleven ECOWAS countries

Author Affiliations

  • 1Ecole Nationale Supérieure de Statistique et d’Economie Appliquée d’Abidjan (ENSEA), Abidjan, Côte d’Ivoire

Int. Res. J. Social Sci., Volume 7, Issue (10), Pages 13-16, October,14 (2018)

Abstract

The goal of the study is to analyze the link between economic freedom, democracy and inclusive growth in eleven ECOWAS countries during the period 1995-2015. Using fixed and random effects models, we provide evidence of positive effects of economic freedom and democracy on inclusive growth, with the effect of economic freedom greater than the one of democracy. Using panel causality tests, we find that economic freedom causes inclusive growth in Mali. In Mali and Nigeria, inclusive growth causes economic freedom. Inclusive growth causes democracy in Senegal. Democracy causes inclusive growth in Benin, Nigeria and Senegal. Economic freedom causes democracy in Benin and democracy causes economic freedom in Côte d’Ivoire.

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