The Path of Liberalization and Economic Growth
研究发现，经济自由度的提高和政策稳定都有利于增长；即使长期自由化，政策波动也会抑制增长，平稳的自由化路径能带来更高增长。
Empirical research has shown that both more economic freedom and a higher stability of policy variables are supportive for economic growth. Thus, the path of policy liberalization may have a considerable influence on a nation’s growth performance. Using the Fraser‐index of economic freedom, this article shows empirically that policy volatility proves to be growth depressing, even if the state liberalizes the economy in the long‐run. Growth is significantly higher if liberalization occurs on a smoother path.