INSTITUTIONAL QUALITY AND ECONOMIC FREEDOM: DRIVING FORCES OF ECONOMIC GROWTH IN VIETNAM
DOI:
https://doi.org/10.61591/jslhu.24.597Keywords:
Economic Freedom, Regulatory QualityAbstract
The study examines the impact of economic freedom on economic growth in Vietnam within the context of regulatory quality. Using a Bayesian approach based on data from Vietnam covering the period from 2008 to 2022, the results indicate that both economic freedom and regulatory quality have a positive impact on economic growth with a probability exceeding 90%. Additionally, variables such as fixed capital formation, corruption control, education expenditure, population growth, inflation, unemployment rates, and financial development exhibit negative effects on economic growth. Conversely, foreign direct investment and the labor force show positive impacts on this factor. Based on these findings, the author proposes several policy implications aligned with the regression results to enhance economic freedom.
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