The relationship between economic freedom and economic growth in EU countries

The concept of economic freedom is based on the existence and functioning of a market economy, with minimal intervention and the role of the state in the market and the private sector. The Index of Economic Freedom by the Heritage Foundation and its categories were applied in the dissertation in order to determine the impact (change) of economic freedom on economic growth within the member states of the European Union, observed in the period from 1994 to 2018 year.Using descriptive statistics, correlation and especially panel analysis, it was found that the level of economic freedom is not, but that the change in level is an indicator of economic growth. Given the great importance and impact of economic freedom on the prosperity of individuals and entire nations, it is important to take into account the results obtained in order to improve the global economic progress of society.