THE MEASUREMENT OF CONVERGENCE OF ECONOMIC FREEDOMS WITH HALDANE-HALL APPROACH

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One of the most important developments in the last thirty years is the expansion of liberal economic thought and policies in terms of accelerating globalization movements. Libertarian movements the scope of which has been extended with regards to economics and especially neo-liberal movements became an irreplaceable element of social set-up and their economic liberation formed the main core of the developments of macroeconomics with the aim of increasing the welfare level. In this study, therefore, whether developing and underdeveloped countries came closer to developed countries in terms of economic freedom is analysed with a new method that is Haldane-Hall Convergence Analysis. The outcomes of Haldane-Hall Convergence Analysis revealed that the economic liberation processes of Argentina, Belarus, Bolivia, Bulgaria, China, Ecuador, Egypt, El Salvador, India, Mexico, Papua New Guinea, Romania, Senegal, Thailand and Turkey converged to developed countries, on the other hand, in Republic of Congo, Ghana, Iraq, Jordan, Libya, Moldova, Morocco, Sudan, Swaziland, Vietnam, Yemen, Bangladesh, Burkina Faso, Chad, Democratic Republic of Congo, Gambia, Guinea, Madagascar, Mali, Mozambique, Sierra Leone and Uganda, the concept of divergence in terms of economic freedom became a current issue.

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Economic Freedom , Convergence , Haldane , Hall Approach

dokuz eylul university the journal of graduate school of social sciences

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dokuz eylul university the journal of graduate school of social sciences