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:: Volume 12, Issue 3 (Summer 2017) ::
J. Mon. Ec. 2017, 12(3): 251-275 Back to browse issues page
Financial Freedom and Socially Responsible Market Economy: An Analysis from Rawls’s Theory of Justice
Abbas Ali Daryaei *1, Hamid Haghighat1
1- Imam Khomeini International University
Abstract:   (319 Views)
Using Rawls's theory of justice, this paper addresses the empirical question of whether the socially responsible market economy can help explain the current situation in financial freedom, as well as its recent variation across countries. Utilizing annual data from selected countries of Middle East, North Africa, Asia and Oceania, and static panel estimation techniques, we provide evidence which suggests that many Socially Responsible Market Economy (SRME) components are statistically significant determinants of Financial Freedom (FF). Our findings reveal that three factors of SRME, namely, organization of the market and competition, welfare regime and private property have a positive significant relationship with FF. Legislative bodies are advised to legislate impartial rules, through which they can develop the necessary grounds for financial liberalization and subsequent transparency of financial information in financial markets.
Keywords: Financial Freedom, Socially Responsible Market Economy, Rawls’s Theory of Justice, Governments
Full-Text [PDF 389 kb]   (148 Downloads)    
Type of Study: Research | Subject: Development Economics
Received: 2018/08/19 | Accepted: 2019/09/23 | Published: 2019/09/23
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Daryaei A A, Haghighat H. Financial Freedom and Socially Responsible Market Economy: An Analysis from Rawls’s Theory of Justice. J. Mon. Ec.. 2017; 12 (3) :251-275
URL: http://jme.mbri.ac.ir/article-1-291-en.html


Volume 12, Issue 3 (Summer 2017) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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