Economic Freedom and Economic Growth Are Really Related?

The article investigates relation between economic freedom that is characteristic to a country and economic growth that it achieves. Economic growth is represented by GDP at constant price (2005) and constant exchange rate and Annual average GDP growth rate, per capita. Economic Freedom side is represented by the Economic Freedom index that is updated annually by The Wall Street Journal and The Heritage Foundation The study is based on a dataset that covers 150 countries in the period of 2001-2010. Analysis shows a moderate positive relationship between economic freedom and volume of GDP and a very week negative linear relationship between economic freedom and GDP growth rate