fluctuations in a pure exchange economy à la Lucas, with infinitely-lived households, under the hypothesis of spirit of capitalism … capitalism through preferences for wealth. Preferences for wealth are the key element of this paper in a twofold aspect. First … with the strongest spirit of capitalism are also the rich in terms of endowments, heterogeneity in endowments heightens the …

unique setting. Using a large sample of 327 American Depositary Receipts (ADRs), we test whether economic freedom in the ADR …-country economic freedom and ADR volatility indicating that an increase in the level of economic freedom in the home country improves … the stability of ADR prices. We find that the direct relation between economic freedom and price stability is driven …

In the present paper it will be econometrically shown that economic freedom has a positive impact on share prices. Our … Eurostat and World Economic Freedom Indicators. Eviews software is used for the econometric analysis …