20.500.12556/DKUM-87369 ‘Free-market capitalism’ and democracy in the period of democratic recession investigating the relationship in 141 countries, 2006–2017 Since the mid-2000s, democratization has slowed, stopped, and even reversed across the world. At the same time, societies have become more oriented toward free markets as measured by indexes of economic freedom. Relying on a panel sample of 141 developed and developing countries between 2006 and 2017, this paper is the first to investigate whether the two phenomena are related by employing economic freedom data. It finds that there is no net-negative relationship between aggregate economic freedom and democracy in this time-period. Instead, mixed findings of both an overall positive and overall neutral (but not negative) association are uncovered in between-country and within-country analyses, respectively. In between-country analyses, using the disaggregated index shows that the legal system/property rights component drives most of the positive relationship between aggregate economic freedom and democracy in the developed world. The same between-country analyses in the developing world show that freedom of international trade is positively associated with democracy, while modest regulation has a negative relationship. However, additionally controlling for omitted variable bias using country-fixed effects, the paper does not find evidence for either a positive or negative relationship between subsequent changes in levels of economic freedom and democracy. democratic recession democracy economic freedom neoliberalism free-market capitalism demokracija ekonomska svoboda neoliberalizem prostotržni kapitalizem true true true M.E. Sharpe Angleški jezik Slovenski jezik Članek v reviji 2024-03-13 12:14:07 2024-03-13 12:31:12 2024-03-14 12:05:17 0000-00-00 00:00:00 2023 0 0 Str. 1-24 Št. 1 Letn. 54 2023 0000-00-00 Zaloznikova Objavljeno NiDoloceno 2023-02-11 2023-08-29 2023-09-05 316.334 171737859 10.1080/00207659.2023.2254127 1557-9336 Rutar-2023-_Free-Market_Capitalism__and_Democr.pdf Rutar-2023-_Free-Market_Capitalism__and_Democr.pdf 1 F37D44ECFB9ED2941575701D6F8CBFFC 1f93b6c420b874bf77d766e8dc22efdccb7322ecfa5e49ef724e5ea9c8c69281 f80ba313-e12c-11ee-8bfd-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=176838 https://doi.org/10.1080/00207659.2023.2254127 0 d0116da5-e12a-11ee-8bfd-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=176836 Filozofska fakulteta 0 0 0