THE IMPACT OF ECONOMIC FREEDOM ON MARKET PRICES IN THE VISEGRAD GROUP COUNTRIES

Ivana Brkic

Authors

Ivana Brkic Faculty of Economics and Engineering Management in Novi Sad

Keywords:

Economic freedom, Market prices, Visegrad Group, Panel Data

Abstract

The aim of the paper is to present the empirical analysis of impact of economic freedom on market prices of basic food products in the Visegrad Group countries. The relationship between the variables has been tested via correlation and panel analysis. The results indicate that economic freedom is not one-dimensional, so that its elements have a different impact on various food products. Although the concept of economic freedom is not new in economic theory, its indicators are, so it is important to have more studies on this topic in order to determine the influence of different aspects of economic freedom to various (micro)economic categories.

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