Economic Freedom of the World Index
Summary: Economic Freedom of the World Index (EFW) attempts to measure the extent to which a nation's policies and institutions are compatible with the ideal of economic freedom.
Main Points: The Economic Freedom of the World Index measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. Forty-two variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas:
· Size of Government;
· Legal System and Property Rights;
· Sound Money;
· Freedom to Trade Internationally;
Access to database: http://www.freetheworld.com/
Source: Gwartney, J., Robert, L. and Hall, J. Economic Freedom of the World. 2012 Annual Report.
Page Created By: Madina Junussova. The content presented on this page is drawn directly from the source(s) cited above, and consists of direct quotations or close paraphrases. This material does not necessarily reflect the official view of the publishing organization.