Economic freedom, entrepreneurship, competitiveness and economic growth

Abstract

This article aims to carry out an analysis of the relationship between economic freedom, entrepreneurship initiatives, competitiveness and economic growth from the perspective of the Austrian school of economics. This documentary macroeconomic study was based on Garrison (2015) and correlations were made between economic freedom and the level of entrepreneurship, competitiveness, and economic growth in per capita terms. The results show that when there is greater economic freedom, measured by the General Index of Economic Freedoms, the number of ventures grows according to the Global Entrepreneurship Index, the competitiveness of companies and economic activity as a whole. In conclusion, with the exception of what the use of certain indicators of economic freedom or business performance implies, their use makes it possible to globally guide economic policies and business decisions.