Decomposed and composed effects of economic freedom on economic growth in south Asia

Ahmed, Shabbir; Mushtaq, Mansoor; Fahlevi, Mochammad; Aljuaid, Mohammed; Grabowska, Sandra

doi:10.1016/j.heliyon.2023.e13478

Cited by 31 publications

(17 citation statements)

References 36 publications

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“…For PT. Pancal Asri Sentosa, it is recommended to pay more attention to the prices offered to customers (Husainah et al, 2023), product quality possessed by employees, and service quality provided to customers, so that the purchasing decisions of customers for the company's products will increase (Ahmed et al, 2023). For the University, the results of this study can be used as study material in the library (Wiyono et al, 2023), for learning, and to expand knowledge about scientific research at Prima Indonesia University.…”

Section: Discussionmentioning

confidence: 99%

The Influence of Price, Product Quality and Service Quality on Purchase Decisions PT. Panca Asri Sentosa

Louis

Chandra

Situmeang

2023

JRBEE

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Researchers took the research object at PT. Panca Asri Sentosa, due to a decrease in purchasing decisions from customers. Purchasing decision is a person's reaction to a product offered. Price, Product Quality and Service Quality are one of the reasons for the decline in purchasing decisions. The research approach used is a quantitative approach. The type of research used in this research is descriptive quantitative. In accordance with the research objectives, the nature of this research is descriptive explanatory. The population used is 133 corporate customers and the sample of this study is 100 people obtained from the Slovin formula. used to test the validity and reliability are as many as 30 customers at the same company. The results of the linear regression analysis show Purchase Decision = 4.724 + 0.298 Price + 0.763 Product Quality + 0.125 Service Quality. The results showed partially and simultaneously price, product quality and service quality partially have a significant influence on purchasing decisions at PT. Panca Asri Sentosa. The Adjusted R Square value is 0.635 which means that it implies that the effect of the independent variable on the dependent variable is 63.5% and the remaining 36.5% is the influence of other independent variables.

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Section: Discussionmentioning

confidence: 99%

The Influence of Price, Product Quality and Service Quality on Purchase Decisions PT. Panca Asri Sentosa

Louis

Chandra

Situmeang

2023

JRBEE

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“…However, the panel data methods have gained popularity with better availability of data across countries over longer time periods. The panel regression techniques used in this paper have been widely used in cross-country studies (e.g., (Fokam, Mbengono, Sato, Noumessi, & Tadadjeu, 2021;Sharma & Sharma, 2023)) and in several studies related to economic freedom (e.g., (Ahmed et al, 2023;Gouider, 2022;Hussain & Haque, 2016;Sharma et al, 2022)).…”

Section: Methodology and Datamentioning

confidence: 99%

“…In addition to these factors, the quality of institutions exerts a significant influence on economic growth (Acemoglu & Robinson, 2008;North, 1990). There is a vast amount of literature that has examined the relationship between economic growth and the quality of economic institutions as measured by economic freedom (e.g., (Ahmed, Mushtaq, Fahlevi, Aljuaid, & Saniuk, 2023 ;Brkić, Gradojević, & Ignjatijević, 2020;Carlsson & Lundström, 2002;Gouider, 2022;Gwartney, Lawson, & Holcombe, 1999; economic growth. Economic freedom attempts to measure the extent to which an economy operates as a market economy (Angulo-Guerrero, Pérez-Moreno, & Abad-Guerrero, 2017;Berggren, 2003).…”

Section: Introductionmentioning

confidence: 99%

“…found a positive association between economic freedom and growth in OCED countries from 2004 to 2008. In contrast,Erdem and Tugcu (2012) reported a negative impact of economic freedom on the long-run economic growth of OECD countries.Though a significant number of studies have tested the connection between economic freedom and economic performance for a large cross-section of countries, the literature focusing exclusively on developing countries has also emerged in recent years (e.g.,(Ahmed et al, 2023;Gouider, Nouira, & Saafi, 2022;Gwartney & Holcombe, 2019;Kouton, 2019;Santiago, Fuinhas, & Marques, 2020)). Using the Heritage Foundation's index of economic freedom and applying the panel threshold approach,Gouider et al (2022) studied the relationship between economic freedom and growth for 35 emerging and developing countries from 1996 to 2018.…”

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confidence: 99%

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The relationship between economic freedom and growth: Evidence from the Next Eleven (N-11) countries

Sharma,

Tokas

2024

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This study examines the association between economic freedom and economic growth in the Next Eleven (N-11) economies from 2001 to 2020. This paper also links the individual areas of economic freedom with growth in these countries. The study obtains economic freedom data from the Fraser Institute and the Heritage Foundation. It uses fixed effects and random effects techniques to examine the relationship between economic freedom and per capita income growth. The paper finds a positive association between economic freedom and growth in N-11 countries. The results also highlight that three areas of the economic freedom index (legal system & property rights, sound money, and free trade) are found to be positively associated with growth. In contrast, the other two areas (size of government and regulation) exhibit an insignificant relationship with growth. The results of this study highlight that N-11 countries with higher levels of economic freedom and better quality of economic institutions are likely to witness higher growth. Therefore, formulating policies that focus on improving the legal system, safeguarding property rights, maintaining a stable macroeconomic environment, and fostering free trade to facilitate economic progress in the N-11 countries is necessary.

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“…Latest studies concentrated mainly on selected region (i.e. Dia, and Ondoa, 2023;Henri and Mveng, 2023;Ahmed et al, 2023;Cloyne et al, 2023 Lach and Malaga, 2023;Murphy, 2023;Espich et al, 2023), resp. they surveyed certain aspect of economic freedom on economic growth (e.g.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Empirical analysis of the impact of economic freedom on economic growth in the Slovak Republic, the Czech Republic and Singapore

Belanová,

Sivák,

Dziura

et al. 2023

JESI

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A quality business environment is considered a key factor that affects the competitiveness and growth of the market economy. The article provides an evaluation of the development of the business environment in the Slovak Republic and its comparison with selected countries using the Index of Economic Freedom from the Heritage Foundation. The aim is to verify the influence of individual sub-indexes of the Index of Economic Freedom on the economic growth of the Slovak Republic, the Czech Republic and Singapore, measured by the GDP per capita growth (%), through a panel analysis. By choosing these three countries over a period of 20 years, the article brings new knowledge that appropriately complements already conducted empirical studies in the researched area. As a result, two of the twelve sub-indexes of the economic freedom index, namely the labor freedom sub-index and the monetary freedom sub-index, demonstrated an impact on the economic growth of the surveyed countries. In addition to them, the dependent variable is also influenced by the control variables foreign direct investment and gross capital formation. However, economic freedom is a complex indicator, so importance should also be attributed to other sub-indexes of the Index of Economic Freedom as a manifestation of the synergy of all its basic elements in the creation of macroeconomic policy.

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Decomposed and composed effects of economic freedom on economic growth in south Asia

Cited by 31 publications

References 36 publications

The Influence of Price, Product Quality and Service Quality on Purchase Decisions PT. Panca Asri Sentosa

The Influence of Price, Product Quality and Service Quality on Purchase Decisions PT. Panca Asri Sentosa

The relationship between economic freedom and growth: Evidence from the Next Eleven (N-11) countries

Empirical analysis of the impact of economic freedom on economic growth in the Slovak Republic, the Czech Republic and Singapore

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