From the Club for Growth’s analysis of Rick Perry’s record:

The Texas tax and regulatory climate Governor Rick Perry inherited from Governor George W. Bush was already among the best in the nation. Further, during Perry’s entire long tenure as governor, the Texas Legislature has had conservative Republican majorities. So the bar for judging Perry’s performance should be set high.
It is quite clear that Perry did not move his state in reverse, or on the wrong course. In many instances, he merely maintained a positive status quo. In others, such as tort reform and regulations, he improved the Texas economic climate.
Still, his support for taxpayer-subsidized funds to lure jobs away from other states shows he has at times an interventionist streak rather than consistent free-market principles. His semi-apology for the big government interventions of President Bush suggests a similar inclination.
Should Rick Perry become President, he will inherent a far worse economic climate than he has in Texas, as well as a less hospitable Congress than he has in the Texas Legislature. It is quite likely that Perry would seek to move the country in a much more pro-growth direction. Almost any movement in the direction of the Texas approach would be welcomed. However, given some actions in his record, it is questionable whether Perry will maintain his steadfast fiscal approach when faced with a less favorably inclined legislature than he is accustomed to.

Full paper here.