The Impact of Political Stability and Economic Freedom to Economic Growth in the Countries of Europe and Central Asia during the Period (1996-2018) Using Panel ARDL Model

  • Sid Ali Seghiri University of Medea. Algeria
  • Imad Rezazi University of Medea. Algeria
  • Mohamed Boulesnam University of Medea. Algeria
Keywords: Political Stability, Economic Freedom, Economic Growth, Cointegration, Panel ARDL Model


The study aims at identifying the impact of political stability and economic freedom on the economic growth in (43) countries from Europe and Central Asia during the period (1996-2018) using the panel ARDL model. The study shows, through Hausman test, that the dynamic fixed effect model (DFE) is the best estimation model. Findings show a long-term relationship between study variables. Moreover, there is a positive effect of trade openness and physical capital in the short term. According to (Dumitrescu-Hurlin) the causality test shows a two-way relationship between all study variables in Europe and Central Asia Countries.


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How to Cite
Seghiri, S. A., Rezazi, I., & Boulesnam, M. (2021). The Impact of Political Stability and Economic Freedom to Economic Growth in the Countries of Europe and Central Asia during the Period (1996-2018) Using Panel ARDL Model . Dirassat Journal Economic Issue, 12(1), 387-404. Retrieved from