Abstract
The current study aims to analyze how the decisions governments make when applying a trade policy based on the economic freedom of emerging countries affect economic growth and human development because there is still no consensus on the most appropriate trade policy. This was achieved through panel data analysis that included information from 53 emerging countries in Latin America and Asia, corresponding to 2013 to 2022. It was found that economic freedom influences human development, but not significantly. However, this has a positive impact on economic growth. This study provides information to better explain political models focused on the free market and thus improve decision-making for governments regarding the quality and standard of living of emerging countries' populations. Based on institutional theory, this study generates new knowledge to understand how economic freedom and the human and economic development of emerging countries are related.
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