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Do economic freedom matters for finance in developing economies: a panel threshold analysis

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  • Muhammad Asif Khan
  • Mollah Aminul Islam
  • Usman Akbar

Abstract

Economic freedom is an important determinant of economic development, yet little academic research has considered its financial perspectives. Using a relatively new measure of finance, we find that a high-freedom environment fosters finance in developing economies. Unlike prior literature, the advanced panel threshold estimator shows a single significant economic freedom threshold level of 4.282 as a benchmark, where the relationship turns positive. The findings are robust to alternative estimators and split-sample analysis. The findings are useful for policymakers to attain optimal financial benefits by assuring a high-freedom environment.

Suggested Citation

  • Muhammad Asif Khan & Mollah Aminul Islam & Usman Akbar, 2021. "Do economic freedom matters for finance in developing economies: a panel threshold analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 28(10), pages 840-843, June.
    • Handle: RePEc:taf:apeclt:v:28:y:2021:i:10:p:840-843
    DOI: 10.1080/13504851.2020.1782335
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    Cited by:

    1. Jianing Xu & Weidong Li, 2022. "The Impact of the Digital Economy on Innovation: New Evidence from Panel Threshold Model," Sustainability, MDPI, vol. 14(22), pages 1-19, November.

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