Integration into global value chains (GVCs) provides opportunities for economic development, but the extent and nature of these opportunities differ across countries. The economic impact of a country's participation in GVCs can be modified by domestic institutional arrangements in a variety of ways depending on the types of GVCs. Most recent empirical and correlational studies assume that causality leads to economic growth through the participation of GVCs and institutions, but an inverse relationship between them is also feasible and only a few studies have analyzed this possibility. Using a large panel data set of sixty countries from 2000 to 2016, this paper contributes to closing these gaps using instrumental variable analysis as an empirical strategy. Key findings include that GDP per capita is positively affected by participation in GVCs and that this effect is greater when such participation is accompanied by institutional facilitation. These findings suggest that participation in GVCs accompanied by wellfunctioning domestic institutions can be highly effective in enhancing countries' economic growth.

The discussion about the relationship between economic freedom and economic growth is not new and has always been extensively discussed in economic literature. But the question in this area is the consideration of the effects of global financial crises of 2008. This study attempts to answer the question: How does economic crises effect freedomgrowth nexus? This study analyses the relationship between economic freedom index (measured by Fraser Institute), individual components of economic freedom and GDP per capita growth of 5 South Asian countries over the period of 1990-2015. Fixed effects regression results reveals that GDP per capita growth is positively affected by economic freedom index and this relationship has weakened by the global economic crises of 2008. It does not mean that increasing economic freedom is good for economic growth since one of the components of economic freedom has negative effect on growth. Contribution/ Originality: This study contributes in existing literature by checking the role of economic freedom and its individual components for economic growth of South Asia without considering the role of global economic crises of 2008 and then adds up the post crises period into analysis. The results of Fixed effects test on two different models shows that global economic crises severely deteriorates the impact of economic freedom and one of its components (monetary freedom) tends with negative impact on economic growth on selected countries. 1. INTRODUCTION South Asia is the fastest growing region in the world with average GDP growth 5-7 percent since during last two decades and it is projected with 7.1 percent by 2018. After global financial crises of 2008 several decisions were made by South Asian Association for Regional Cooperation (SAARC) countries in its summit of 2010. Secretary General Fathimath Saeed stated that under the theme of "Building Bridges" and more liberalization among member countries would be source of closing of space between intent and implementation of regional policies. President Mohamed Nasheed, chairperson of 17 th SAARC summit also addressed areas of cooperation in which there is need of intense progress should take place, such as trade liberalization, more economic integration and integrity within and among member states.