Index of Economic Freedom

The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations. The creators of the index took an approach similar to Adam Smith's in The Wealth of Nations, that "basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society".[1][2]

This article is about the index published by the Wall Street Journal and the Heritage Foundation. For other indices, see Indices of economic freedom.

The 2018 Heritage Foundation Index of Economic Freedom overall heatmap

Purpose

The Heritage Foundation website states that "Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please. In economically free societies, governments allow labor, capital, and goods to move freely, and refrain from coercion or constraint of liberty beyond the extent necessary to protect and maintain liberty itself."[3]. By publishing yearly reports the foundation attempts to highlight where such freedoms do and dont exist.

The Heritage Foundation reports that the top 20% on the index have twice the per capita income of those in the second quintile, and five times that of the bottom 20%.[4] Carl Schramm, who wrote the first chapter of the 2008 Index, states that cities of Medieval Italy and mid-19th century Midwestern American cities all flourished to the degree they possessed economic fluidity and institutional adaptiveness created by economic freedom.[5]

According to Will Wilkinson of the libertarian think tank Cato Institute, studies show that higher economic freedom correlates strongly with higher self-reported happiness.[6] According to economists Tomi Ovaska and Ryo Takashima, economic freedom research suggests "that people unmistakably care about the degree to which the society where they live provides them opportunities and the freedom to undertake new projects, strongly with and make choices based on one's personal preferences."[7]

According to the Cato Institute, higher economic freedom promotes participation and collaboration.[8] Also claimed is that higher economic freedom is extremely significant in preventing wars; according to their calculations, freedom is around 54 times more effective than democracy (as measured by Democracy Score) in diminishing violent conflict.[9]

Ratings

Since the index was created in 1995, the score for world economic freedom has increased, rising 2.6 points up to 2008.[10] In 2011 the score had decreased from the 2008 score of 60.2 to 59.7, which represents an increase of 2.2 points since 1995. The Economic Freedom score improved for 117 countries, the majority of countries included in the index, which were mainly developing and emerging market economies. With the exception of Europe and North America, there were increased levels of freedom recorded in all regions, with the greatest improvement shown in Sub-Saharan Africa. The top five "free" economies identified by the 2011 index were Hong Kong, Singapore, Australia, New Zealand, and Switzerland, each scoring over 80 on the economic freedom grading scale.[11] Since the Index was created in 1995, Hong Kong has been the top performing economy.[11][12]

In 2011, the United States dropped to 9th place behind such countries as Denmark, Canada, and first-place Hong Kong.[11] The Heritage Foundation has pointed to increases in government spending as the reason for the United States' decline, and according to data from the 2011 index, the growth rates of countries with the highest levels of government spending were 4.5 points lower, on average, than countries where government spending was under control.[13] In their "Executive Highlights" of index results, the Heritage Foundation stated that "high levels of government spending in response to the global economic turmoil have not resulted in higher economic growth".[11]

The results from the 2012 index showed an overall decline in global economic freedom; according to The Heritage Foundation, the average score in its ranking was the second lowest of the last ten years.[14] In particular, the U.S. dropped to 10th place in the ranking, and has now fallen three places since 2008, when it was 7th.[15] A report issued by the Foundation stated that government spending was the cause of the decline, and had "not only failed to arrest the economic crisis, but also - in many countries - seems to be prolonging it".[16] According to the report, activity in the private sector is threatened by the greater government spending, which has increased public debt and led to more bureaucracy.[14]

Countries that shared the same rank received a tie score.

Reception

According to the Freedom House, "there is a high and statistically significant correlation between the level of political freedom as measured by Freedom House and economic freedom as measured by the Wall Street Journal/Heritage Foundation survey."[17] The Millennium Challenge Account, a U.S. government foreign aid program, has used the Trade freedom indicator in determining which countries will receive their performance-based compacts.[18]

Critics such as Jeffrey Sachs have contested the Index's assumption that economic openness necessarily leads to better growth. In his book The End of Poverty, Sachs graphed countries' ratings on the index against GDP per capita growth between 1995 and 2003, claiming to demonstrate no correlation between a country's rating and its rate of economic growth. Sachs pointed out, as examples, that countries with good ratings such as Switzerland and Uruguay had sluggish economic performances, others, like China, with poorer rating had very strong economic growth.[19]

The UAE questioned the rating of their country's economic freedom in 2008, comparing its middling rating with the high rating they had received from other indicators such as Transparency International and Moody's. They also argued that the report is "unreliable", because its methodology had changed twice in the last two years.[20]

Stefan Karlsson of the Ludwig von Mises Institute challenged the usefulness of the index due to the fuzziness of many of the categories used to determine freedom.[21] John Miller roundly criticizes the "Index", writing in Dollars & Sense, "In the hands of the Wall Street Journal and the Heritage Foundation, Washington's foremost right-wing think tank, however, an economic freedom index merely measures corporate and entrepreneurial freedom from accountability. Upon examination, the index turns out to be a poor barometer of either freedom more broadly construed or of prosperity."[22] According to Left Business Observer, growth in Index accounts for 10% of the variation in the growth of GDP.[23]

Methodology

The ranking scores aspects of economic freedom between 0 and 100, with 0 meaning "no economic freedom" and 100 meaning "total economic freedom". There are twelve aspects divided into four categories.[24]

Rule of law

Property rights

Degree of a country's legal protection of private property rights and degree of enforcement of those laws. It is divided into the following sub-factors:

1. physical property rights
2. intellectual property rights
3. strength of investor protection
4. risk of expropriation
5. quality of land administration

Judicial effectiveness

Degree of the judiciary's efficiency and fairness, especially dealing with property laws. It is divided into the following sub-factors:

1. judicial independence
2. quality of the judicial process
3. likelihood of obtaining favorable judicial decisions

Government integrity

Analyzes how prevalent are forms of political corruption and practices such as bribery, extortion, nepotism, cronyism, patronage, embezzlement, and graft. It is divided into the following sub-factors:

1. public trust in politicians
2. irregular payments and bribes
3. transparency of government policymaking
4. absence of corruption
5. perceptions of corruption
6. governmental and civil service transparency

Government size

Tax burden

Analyzes marginal tax rates on personal and corporate income and the overall taxation level (including direct and indirect taxes imposed by all levels of government) as a percentage of the GDP. Its sub-factors are:

1. top marginal tax rate on individual income
2. top marginal tax rate on corporate income
3. total tax burden as a percentage of GDP

Government spending

Quantifies the burden of government expenditures, including consumption by the state and all transfer payments related to various entitlement programs. The ideal level varies from country to country, but zero expenditure is used as a benchmark.

Fiscal health

Analyzes how well a country manages its budget by quantifying the growing debt and deficit. It is divided into the following sub-factors:

1. average deficits as a percentage of GDP for the most recent three years (80 percent of score)
2. debt as a percentage of GDP (20 percent of score)

Regulatory efficiency

Business freedom

Analyses the cost, time and freedom to open, operate and close a business, taking into consideration factors like electricity. It is divided into thirteen sub-factors:

1. starting a business - procedures (number);
2. starting a business - time (days);
3. starting a business - cost (% of income per capita);
4. starting a business - minimum capital (% of income per capita);
5. obtaining a license - procedures (number);
6. obtaining a license - time (days);
7. obtaining a license - cost (% of income per capita);
8. closing a business - time (years);
9. closing a business - cost (% of estate);
10. closing a business - recovery rate (cents on the dollar);
11. getting electricity - procedures (number);
12. getting electricity - time (days); and
13. getting electricity - cost (% of income per capita).

Labor freedom

Quantifies the intrusiveness of labor rights such as minimum wage, laws inhibiting layoffs, severance requirements, and measurable regulatory restraints on hiring and hours worked, plus the labor force participation rate as an indicative measure of employment opportunities in the labor market. It is divided into the following sub-factors:

1. ratio of minimum wage to the average value added per worker
2. hindrance to hiring additional workers
3. rigidity of hours
4. difficulty of firing redundant employees
5. legally mandated notice period
6. mandatory severance pay
7. labor force participation rate

Monetary freedom

Analyses how stable are prices and how much microeconomy intervenes. It is divided into the following sub-factors:

1. weighted average inflation rate for the most recent three years
2. price controls

Market openness

Trade freedom

Quantifies the extent to which tariff and nontariff barriers affect imports and exports of goods and services into and out of the country. Its sub-factors are:

1. trade-weighted average tariff rate
2. nontariff barriers (NTBs)

Investment freedom

Analyses how free or constrained is the flow of investment capital of individuals and firms.

Financial freedom

Indicates banking efficiency as well as how independent the government is from the financial sector. This aspect looks at five broad areas:

1. extent of government regulation of financial services
2. degree of state intervention in banks and other financial firms through direct and indirect ownership
3. government influence on the allocation of credit
4. extent of financial and capital market development
5. openness to foreign competition

Previous Methodology

The Index's 2008 definition of economic freedom is "the highest form of economic freedom provides an absolute right of property ownership, fully realized freedoms of movement for labor, capital, and goods, and an absolute absence of coercion or constraint of economic liberty beyond the extent necessary for citizens to protect and maintain liberty itself."[25]

The index scores nations on ten factors of economic freedom, separated into four categories, using statistics from organizations like the World Bank, the International Monetary Fund, Economist Intelligence Unit and Transparency International. In each factor, countries are scored 0 to 100, with 0 being the least free and 100 the most free. A score of 100 signifies an economic environment or set of policies that is most conducive to economic freedom.[25] The methodology has shifted and changed as new data and measurements have become available, especially in the area of Labor Freedom, which was given its own indicator spot in 2007.[2] The following list explains what each factor currently assesses and groups them according to their respective category:

Rule of Law

• Property Rights: Degree of a country's legal protection of private property rights, degree of enforcement of those laws, independence of and corruption within the judiciary, and likelihood of expropriation.
• Freedom from Corruption: The non-prevalence of political corruption within a country, according to the Corruption Perceptions Index.

Limited Government

• Fiscal Freedom: How free is a country from tax burden. It comprises three quantitative measures: top marginal tax rate of both individual (1) and corporate (2) income, and total tax burden as a percentage of GDP (3).
• Government Size/Spending: Governments' expenditures as a percentage of GDP, including consumption and transfers. The higher the percentual spending, the lower the score.

Regulatory Efficiency

• Business Freedom: A country's freedom from the burden of regulations on starting, operating, and closing business, given factors such as time, cost and number of procedures, as well as the efficiency of government in the regulatory process.
• Labor Freedom: How free is a country from legal regulation on the labor market, including those relating to minimum wages, hiring and firing, hours of work and severance requirements.
• Monetary Freedom: How free from microeconomic intervention and price instability is a country, basing on an equation considering the weighted average inflation rate in the last three years and price controls.

Open Markets

• Trade Freedom: Freedom from sizeable numbers and burdens of tariffs and non-tariff barriers to imports and exports of a country.
• Investment Freedom: Freedom from restrictions on the movement and use of investment capital, regardless of activity, within and across the country's borders.
• Financial Freedom: A country's independence from government control and interference in the financial sector, including banks. It considers government ownership of financial firms, extent of financial and capital market development, government influence on the allocation of credit and openness to foreign competition.

Rankings

2020 Index

As of 2020, Singapore’s economic freedom score is 89.4, making it the world’s freest economy in the 2020 Index. Singapore is ranked 1st among 42 countries in the Asia-Pacific region, and its overall score is well above the regional and world averages.

Key: ██ Free (80–100) ██ Mostly Free (70–79.9) ██ Moderately Free (65–69.9) ██ Moderately Unfree (60–64.9) ██ Mostly Unfree (55–59.9) ██ Mostly Unfree (50–54.9) ██ Repressed (0–49.9)

Country[26]	Rank	Score	Change
Singapore	1	89.4	0.0
Hong Kong	2	89.1	1.1
New Zealand	3	84.1	0.3
Australia	4	82.6	1.7
Switzerland	5	82.0	0.1
Ireland	6	80.9	0.4
United Kingdom	7	79.3	0.4
Denmark	8	78.3	1.6
Canada	9	78.2	0.5
Estonia	10	77.7	1.1
Taiwan	11	77.1	0.2
Georgia	12	77.1	1.2
Iceland	13	77.1	0.0
Netherlands	14	77.0	0.2
Chile	15	76.8	1.4
Lithuania	16	76.7	2.5
United States	17	76.6	0.2
United Arab Emirates	18	76.2	1.4
Luxembourg	19	75.8	0.1
Finland	20	75.7	0.8
Mauritius	21	74.9	1.9
Sweden	22	74.9	0.3
Czech Republic	23	74.8	1.1
Malaysia	24	74.7	0.7
South Korea	25	74.0	1.7
Israel	26	74.0	1.2
Germany	27	73.5	0.0
Norway	28	73.4	0.3
Austria	29	73.3	1.3
Japan	30	73.3	1.2
Qatar	31	72.3	0.3
Latvia	32	71.9	1.5
Rwanda	33	70.9	0.2
Armenia	34	70.6	2.9
Macau	35	70.3	0.7
Bulgaria	36	70.2	1.2
Cyprus	37	70.1	2.0
Romania	38	69.7	1.1
Kazakhstan	39	69.6	4.2
Botswana	40	69.6	0.1
North Macedonia	41	69.5	1.6
Malta	42	69.5	0.9
Thailand	43	69.4	1.1
Azerbaijan	44	69.3	3.9
Colombia	45	69.2	1.9
Poland	46	69.1	1.3
Uruguay	47	69.1	0.5
Belgium	48	68.9	1.6
Jamaica	49	68.5	0.1
Saint Lucia	50	68.2	0.5
Peru	51	67.9	0.1
Slovenia	52	67.8	2.3
Kosovo	53	67.4	0.4
Indonesia	54	67.2	1.4
Panama	55	67.2	0.0
Portugal	56	67.0	1.7
Albania	57	66.9	0.4
Spain	58	66.8	1.2
Saint Vincent and the Grenadines	59	66.8	1.0
Slovakia	60	66.8	1.8
Brunei Darussalam	61	66.6	1.5
Hungary	62	66.4	1.4
Bahrain	63	66.3	0.1
France	64	66.0	2.2
Serbia	65	66.0	2.1
Jordan	66	66.0	0.5
Mexico	67	66.0	1.3
Costa Rica	68	65.8	0.5
The Bahamas	69	64.5	1.6
Philippines	70	64.5	0.7
Turkey	71	64.4	0.2
Seychelles	72	64.3	2.9
Guatemala	73	64.0	1.4
Italy	74	63.8	1.6
Oman	75	63.6	2.6
Cabo Verde	76	63.6	0.5
Fiji	77	63.4	1.2
Morocco	78	63.3	0.4
Kuwait	79	63.2	2.4
Paraguay	80	63.0	1.2
Kyrgyzstan	81	62.9	0.6
Bosnia and Herzegovina	82	62.6	0.7
Saudi Arabia	83	62.4	1.7
Croatia	84	62.2	0.8
Bhutan	85	62.1	0.8
Samoa	86	62.1	0.1
Moldova	87	62.0	2.9
Belarus	88	61.7	3.8
Tanzania	89	61.7	1.5
El Salvador	90	61.6	0.2
Montenegro	91	61.5	1.0
Barbados	92	61.4	3.3
Honduras	93	61.1	0.9
Russia	94	61.0	2.1
Dominican Republic	95	60.9	0.1
Namibia	96	60.9	2.2
Dominica	97	60.8	2.8
Vanuatu	98	60.7	4.3
Madagascar	99	60.5	3.9
Greece	100	59.9	2.2
Ivory Coast	101	59.7	2.7
Uganda	102	59.5	0.2
China	103	59.5	1.1
Ghana	104	59.4	1.9
Vietnam	105	58.8	3.5
South Africa	106	58.8	0.5
Tonga	107	58.8	1.1
Papua New Guinea	108	58.4	0.0
Trinidad and Tobago	109	58.3	1.3
Senegal	110	58.0	1.7
Belize	111	57.4	2.0
Sri Lanka	112	57.4	1.0
Cambodia	113	57.3	0.5
Uzbekistan	114	57.2	3.9
Nicaragua	115	57.2	0.5
Nigeria	116	57.2	0.1
Burkina Faso	117	56.7	2.7
Gabon	118	56.7	0.4
Maldives	119	56.5	3.3
India	120	56.5	1.3
Guinea	121	56.5	0.8
Bangladesh	122	56.4	0.8
The Gambia	123	56.3	3.9
Guyana	124	56.2	0.6
São Tomé and Príncipe	125	56.2	2.2
Mali	126	55.9	2.2
Mongolia	127	55.9	0.5
Tunisia	128	55.8	0.4
Laos	129	55.5	1.9
Mauritania	130	55.3	0.4
Eswatini	131	55.3	0.6
Kenya	132	55.3	0.2
Benin	133	55.2	0.1
Ukraine	134	54.9	2.6
Pakistan	135	54.8	0.2
Afghanistan	136	54.7	3.2
Niger	137	54.7	3.1
Lesotho	138	54.5	1.4
Nepal	139	54.2	0.4
Togo	140	54.1	3.8
Myanmar	141	54.0	0.4
Egypt	142	54.0	1.5
Comoros	143	53.7	1.7
Brazil	144	53.7	1.8
Cameroon	145	53.6	1.2
Ethiopia	146	53.6	0.0
Zambia	147	53.5	0.1
Guinea-Bissau	148	53.3	0.7
Argentina	149	53.1	0.9
Solomon Islands	150	52.9	1.7
Djibouti	151	52.9	5.8
Malawi	152	52.8	1.4
Haiti	153	52.3	0.4
Angola	154	52.2	1.6
Tajikistan	155	52.2	3.4
Micronesia	156	52.0	0.1
Lebanon	157	51.7	0.6
Ecuador	158	51.3	4.4
Central African Republic	159	50.7	1.6
Mozambique	160	50.5	1.9
Chad	161	50.2	0.3
Congo-Kinshasa	162	49.5	0.8
Suriname	163	49.5	1.4
Iran	164	49.2	1.9
Liberia	165	49.0	0.7
Burundi	166	49.0	0.1
Equatorial Guinea	167	48.3	7.3
Sierra Leone	168	48.0	0.5
Algeria	169	46.9	0.7
Turkmenistan	170	46.5	1.9
Timor-Leste	171	45.9	1.7
Kiribati	172	45.2	2.1
Sudan	173	45.0	2.7
Zimbabwe	174	43.1	2.7
Bolivia	175	42.8	0.5
Congo-Brazzaville	176	41.8	2.1
Eritrea	177	38.5	0.4
Cuba	178	26.9	0.9
Venezuela	179	25.2	0.7
North Korea	180	4.2	1.7

Not ranked

•  Andorra
•  Antigua and Barbuda
•  Grenada
•  Iraq
•  Libya
•  Liechtenstein
•  Marshall Islands
•  Monaco
•  Nauru
•  Palau
•  Saint Kitts and Nevis
•  San Marino
•  Somalia
•  South Sudan
•  Syria
•  Tuvalu
•   Vatican City
•  Yemen

Previous Rankings

Key: ██ Free (80–100) ██ Mostly Free (70.0–79.9) ██ Moderately Free (60.0–69.9) ██ Mostly Unfree (50.0–59.9) ██ Repressed (0–49.9)

	2017[27]			2016[28]			2015[29]			2014[30]
Country	Rank	Score	Change in Yearly Score from 2016	Rank	Score	Change in Yearly Score from 2015	Rank	Score	Change in Yearly Score from 2014	Rank	Score	Change in Yearly Score from 2013
Hong Kong	1	89.8	1.2	1	88.6	-1.0	1	89.6	-0.5	1	90.1	0.8
Singapore	2	88.6	1.2	2	87.8	-1.6	2	89.4	-0.5	2	89.4	0.0
New Zealand	3	83.7	2.1	3	81.6	-0.5	3	82.1	0.9	5	81.2	-0.2
Switzerland	4	81.5	0.5	4	81	0.5	5	80.5	-1.1	4	81.6	0.6
Australia	5	81	0.7	5	80.3	-1.1	4	81.4	-0.6	3	82	-0.6
Estonia	6	79.1	1.9	9	77.2	0.4	8	76.8	0.9	11	75.9	0.6
Canada	7	78.5	0.5	6	78	-1.1	6	79.1	-1.1	6	80.2	0.8
United Arab Emirates	8	76.9	4.5	25	72.4	1	28	71.4	0.3	28	71.1	1.8
Ireland	9	76.7	-0.6	8	77.3	0.7	9	76.6	0.4	9	76.2	0.5
Chile	10	76.5	-1.2	7	77.7	-0.8	7	78.5	-0.2	7	78.7	-0.3
Taiwan	11	76.5	1.8	14	74.7	-0.4	14	75.1	1.2	17	73.9	1.2
United Kingdom	12	76.4	0	10	76.4	0.6	13	75.8	0.9	14	74.9	0.1
Georgia	13	76	3.0	22	73	0.4	22	72.6	0.4	21	72.2	2.8
Luxembourg	14	75.9	2.7	21	73.2	-1	16	74.2	0	15	74.2	-0.3
Netherlands	15	75.8	2.1	17	73.7	-0.5	15	74.2	0.7	17	73.5	0.2
Lithuania	16	75.8	0.6	13	75.2	0.5	15	74.7	1.7	21	73	0.9
United States	17	75.1	-0.3	11	75.4	-0.8	12	76.2	0.7	12	75.5	-0.5
Denmark	18	75.1	-0.2	12	75.3	-1.0	11	76.3	0.2	10	76.1	0
Sweden	19	74.9	2.2	23	72.7	-0.4	20	73.1	0.2	18	72.9	1.2
Latvia	20	74.8	5.1	37	69.7	1	42	68.7	2.2	55	66.5	1.3
Mauritius	21	74.7	0	15	74.7	-1.7	10	76.4	-0.1	8	76.5	-0.4
Iceland	22	74.4	2.4	26	72	-0.4	23	72.4	0.3	23	72.1	1.2
South Korea	23	74.3	2.8	29	71.5	0.3	31	71.2	0.9	34	70.3	0.4
Finland	24	74.0	0.6	19	73.4	0	19	73.4	-0.6	16	74	1.7
Norway	25	74	2.2	27	71.8	0.9	32	70.9	0.4	31	70.5	1.7
Germany	26	73.8	0	16	73.8	0.4	18	73.4	0.6	19	72.8	1.8
Malaysia	27	73.8	3	31	70.8	1.2	37	69.6	3.5	56	66.1	-0.3
Czech Republic	28	73.3	0.8	24	72.5	0.3	26	72.2	1.3	29	70.9	1
Qatar	29	73.1	2.3	32	70.8	-0.4	30	71.2	-0.1	27	71.3	0
Austria	30	72.3	1.1	30	71.2	-1.2	24	72.4	0.6	25	71.8	1.5
North Macedonia	31	70.7	3.6	53	67.1	-1.5	43	68.6	0.4	43	68.2	-0.3
Macau	32	70.7	0.4	34	70.3	-1	29	71.3	-0.4	26	71.7	-0.1
Armenia	33	70.3	3.2	52	67.1	-1.8	41	68.9	-0.5	38	69.4	0.6
Botswana	34	71.1	-2.2	36	69.8	-2.2	27	72	1.4	30	70.6	1
Brunei	35	69.8	0.9	39	68.9	-0.1	40	69	-
Israel	36	69.7	-0.8	33	70.5	2.1	44	68.4	1.5	51	66.9	-0.9
Colombia	37	69.7	-2	28	71.7	1	34	70.7	1.1	37	69.6	1.6
Uruguay	38	69.7	1.1	43	68.6	-0.7	38	69.3	-0.4	36	69.7	-0.2
Romania	39	69.7	3.1	57	66.6	1.1	62	65.5	0.4	59	65.1	0.7
Japan	40	69.6	-3.7	20	73.3	0.9	25	72.4	0.6	24	71.8	0.2
Jamaica	41	69.5	1.8	48	67.7	1	56	66.7	-0.1	52	66.8	1.7
Kazakhstan	42	69	5.7	69	63.3	-0.4	67	63.7	0.7	68	63	-0.6
Peru	43	68.9	1.2	47	67.7	0.3	47	67.4	-0.8	44	68.2	-0.5
Bahrain	44	68.5	-4.9	18	73.4	-1.7	13	75.1	-0.4	12	75.5	0.3
Poland	45	68.3	-0.3	42	68.6	1.6	50	67	1	57	66	1.8
Kosovo	46	67.9
Bulgaria	47	67.9	1.1	55	66.8	1.1	61	65.7	0.7	60	65	0.3
Cyprus	48	67.9	0	45	67.9	0.3	46	67.6	-1.4	41	69	-2.8
Belgium	49	67.8	-1	40	68.8	-1.1	35	69.9	0.7	40	69.2	0.2
Malta	50	67.7	1.2	58	66.5	0.1	58	66.4	-1.1	47	67.5	0.5
Rwanda	51	67.6	2.8	65	64.8	0.1	65	64.7	0.6	63	64.1	-0.8
Vanuatu	52	67.4	6.3	84	61.1	1.6	93	59.5	2.9	109	56.6	0
Jordan	53	66.7	-2.6	38	69.3	0.1	39	69.2	-1.2	33	70.4	0.5
Panama	54	66.3	2.2	68	64.1	0.7	71	63.4	0.9	71	62.5	-2.7
Thailand	55	66.2	3.8	75	62.4	-0.9	72	63.3	-0.8	61	64.1	-0.8
Hungary	56	65.8	-1.0	54	66.8	-0.2	51	67	-0.3	48	67.3	0.2
Slovakia	57	65.7	-1.5	50	67.2	0.8	57	66.4	-2.3	42	68.7	1.7
Philippines	58	65.6	3.4	76	62.2	2.1	89	60.1	1.9	97	58.2	1.1
Saint Vincent and the Grenadines	59	65.2	-2.8	44	68	1	52	67	0.3	54	66.7	0.2
Turkey	60	65.2	2	70	63.2	-1.7	64	64.9	2	69	62.9	0.4
Kuwait	61	65.1	2.6	74	62.5	0.2	76	62.3	-0.8	66	63.1	0.6
Saint Lucia	62	65	-5.2	35	70.2	-0.5	33	70.7	0.3	32	70.4	-0.9
Costa Rica	63	65	-2.2	51	67.2	0.3	53	66.9	-0.1	49	67	-1
Saudi Arabia	64	64.4	2.3	77	62.1	-0.1	77	62.2	1.6	82	60.6	-1.9
Albania	65	64.4	-1.3	63	65.7	-1.2	54	66.9	1.7	58	65.2	0.1
El Salvador	66	64.1	-1.6	62	65.7	-0.5	59	66.2	-0.5	53	66.7	-2
Dominica	67	63.7	-2.4	61	66.1	0.9	63	65.2	1.3	64	63.9	2.3
Azerbaijan	68	63.6	2.6	85	61	-0.3	81	61.3	1.6	88	59.7	0.8
Spain	69	63.6	-4.0	49	67.6	0.4	49	67.2	-0.8	46	68	-1.1
Mexico	70	63.6	-2.8	59	66.4	-0.4	55	66.8	-0.2	50	67	1.7
Fiji	71	63.4	4.4	98	59	0.3	99	58.7	1.5	105	57.2	-0.1
France	72	63.3	0.8	73	62.5	-1	70	63.5	-0.6	62	64.1	0.9
Tonga	73	63	3.7	95	59.3	1.1	104	58.2	2.2	112	56	-1
Guatemala	74	63	2.6	87	60.4	-0.8	83	61.2	1.2	85	60	-0.9
Ivory Coast	75	63.0	4.5	103	58.5	0.8	107	57.7	3.6	126	54.1	-0.2
Dominican Republic	76	62.9	1.9	86	61	-0.3	80	61.3	1.6	87	59.7	-0.5
Portugal	77	62.6	-2.7	64	65.3	1.8	69	63.5	0.4	67	63.1	0.1
Namibia	78	62.5	2.9	93	59.6	0.2	94	59.4	-0.9	84	60.3	-1.6
Italy	79	62.5	0.8	80	61.7	0.8	86	60.9	0.3	83	60.6	1.8
Paraguay	80	62.4	1.3	83	61.1	-0.9	78	62	0.9	80	61.1	-0.7
South Africa	81	62.3	-0.3	72	62.6	0.1	75	62.5	0.7	74	61.8	-0.9
Oman	82	62.1	-4.6	56	66.7	-0.7	48	67.4	-0.7	45	68.1	0.2
Montenegro	83	62	-2.7	66	64.7	1.1	68	63.6	1	70	62.6	0.1
Indonesia	84	61.9	3.8	105	58.1	-0.4	100	58.5	1.6	108	56.9	0.5
Seychelles	85	61.8	4.3	114	57.5	1.3	117	56.2	1.3	124	54.9	1.9
Morocco	86	61.5	1.4	89	60.1	1.8	103	58.3	-1.3	90	59.6	-0.6
Trinidad and Tobago	87	61.2	-2.9	67	64.1	1.4	73	62.7	0.4	72	62.3	-2.1
Eswatini	88	61.1	1.2	91	59.9	-1.3	82	61.2	4	104	57.2	0
Kyrgyzstan	89	61.1	-0.2	82	61.3	0.2	85	61.1	1.5	89	59.6	-0.6
Bahamas	90	61.1	-7.6	41	68.7	-1.1	36	69.8	-0.3	35	70.1	2.1
Uganda	91	60.9	1.2	92	59.7	-0.2	91	59.9	-1.2	79	61.1	-0.8
Bosnia and Herzegovina	92	60.2	1.2	97	59	0.6	101	58.4	1.1	103	57.3	0
Burkina Faso	93	59.6	1	102	58.6	-0.3	98	58.9	-1	86	59.9	-0.7
Cambodia	94	59.5	2	110	57.5	0.1	108	57.4	-1.1	95	58.5	0.9
Croatia	95	59.4	-2.1	81	61.5	1.1	87	60.4	-0.9	78	61.3	0.4
Benin	96	59.2	0.4	99	58.8	1.7	113	57.1	-0.5	101	57.6	1.9
Slovenia	97	59.2	-1.1	88	60.3	-2.4	74	62.7	1	76	61.7	-1.2
Nicaragua	98	59.2	1.6	108	57.6	-0.8	102	58.4	1.8	110	56.6	-1.3
Serbia	99	58.9	-1.1	90	60	0.6	95	59.4	0.8	94	58.6	0.6
Honduras	100	58.8	1.4	116	57.4	0.3	112	57.1	-1.3	96	58.4	-0.4
Belize	101	58.6	1.8	117	56.8	0.1	115	56.7	-0.6	102	57.3	-4.6
Mali	102	58.6	2.2	119	56.4	0.9	122	55.5	-0.9	111	56.4	0.6
Gabon	103	58.6	0.3	104	58.3	0.5	105	57.8	0	99	57.8	1.4
Belarus	104	58.6	8.8	153	49.8	-0.3	150	50.1	2.1	154	48	-1
Tanzania	105	58.6	1.1	109	57.5	-0.3	106	57.8	-0.1	98	57.9	0.9
Guyana	106	58.5	3	123	55.5	-0.2	121	55.7	1.9	129	53.8	2.5
Bhutan	107	58.4	1	115	57.4	0.7	116	56.7	1.7	122	55	-1.6
Samoa	108	58.4	-3.5	78	61.9	0.8	84	61.1	4	106	57.1	-3.4
Tajikistan	109	58.2	5.5	140	52.7	0.7	139	52	-1.4	131	53.4	0
Moldova	110	58	0.5	111	57.5	0.2	110	57.3	1.8	115	55.5	1.1
China	111	57.4	4.7	139	52.7	0.2	137	52.5	0.6	136	51.9	0.7
Sri Lanka	112	57.4	-1.2	101	58.6	-1.4	90	60	-0.7	81	60.7	2.4
Madagascar	113	57.4	-4.3	79	61.7	0	79	61.7	-0.3	73	62	-0.4
Russia	114	57.1	5	143	52.1	0.2	140	51.9	0.8	139	51.1	0.6
Nigeria	115	57.1	1.5	120	55.6	1.3	129	54.3	-0.8	120	55.1	-1.2
Cape Verde	116	56.9	-9.5	60	66.4	0.3	60	66.1	2.4	65	63.7	0.2
Democratic Republic of the Congo	117	56.4	13.7	170	42.7	-1	169	43.7	0.2	167	43.5	-0.3
Ghana	118	56.2	-6.8	71	63	-1.2	66	64.2	2.9	77	61.3	0.6
Guinea-Bissau	119	56.1	4.1	145	52	0.7	143	51.3	0.2	138	51.1	1
Senegal	120	55.9	-1.9	106	57.8	2.4	125	55.4	-0.1	116	55.5	0.1
Comoros	121	55.8	3.7	142	52.1	0.7	142	51.4	3.9	157	47.5	1.8
Zambia	122	55.8	-2.9	100	58.7	-1.7	88	60.4	1.7	93	58.7	0.4
Tunisia	123	55.7	-2.0	107	57.7	0.4	109	57.3	0.3	107	57	-1.6
São Tomé and Príncipe	124	55.4	2.1	136	53.3	4.5	157	48.8	0.8	153	48	-2.2
Nepal	125	55.1	3.8	152	51.3	1.2	149	50.1	-0.3	141	50.4	0.2
Solomon Islands	126	55	8	159	47	0.8	165	46.2	1.2	165	45	-1.2
Greece	127	55	1	130	54	-1.7	119	55.7	0.3	117	55.4	0
Bangladesh	128	55	1.1	131	53.9	-0.2	131	54.1	1.5	132	52.6	-0.6
Mongolia	129	54.8	-4.4	96	59.2	0.3	97	58.9	-2.8	75	61.7	0.2
Barbados	130	54.5	-13.4	46	67.9	-0.4	45	68.3	-1	39	69.3	0.3
Mauritania	131	54.4	1.1	135	53.3	0.1	134	53.2	0.9	134	52.3	-0.7
Federated States of Micronesia	132	54.1	4.5	154	49.6	-0.2	153	49.8	-0.3	143	50.1	-0.6
Laos	133	54	2.6	150	51.4	0.2	144	51.2	1.1	144	50.1	0.1
Lesotho	134	53.9	4.3	155	49.6	0.1	154	49.5	2.4	155	47.9	1.3
Kenya	135	53.5	-2.1	122	55.6	-1.5	111	57.1	1.2	114	55.9	-1.6
Gambia	136	53.4	-4.1	113	57.5	-2	92	59.5	0.7	92	58.8	0
Lebanon	137	53.3	-6.0	94	59.3	-0.1	96	59.4	-0.1	91	59.5	-0.6
Togo	138	53.2	0.2	138	53	3.1	152	49.9	1.1	150	48.8	0.5
Burundi	139	53.2	-0.5	132	53.7	2.3	141	51.4	2.4	148	49	0.9
Brazil	140	52.9	-3.7	118	56.6	-0.3	114	56.9	-0.8	100	57.7	-0.2
Pakistan	141	52.8	-2.8	121	55.6	0.4	126	55.2	0.1	121	55.1	0.4
Ethiopia	142	52.7	1.2	149	51.5	1.5	151	50	0.6	146	49.4	-2.6
India	143	52.6	-2	128	54.6	-1.1	120	55.7	0.5	119	55.2	0.6
Egypt	144	52.6	-2.6	124	55.2	2.3	135	52.9	-1.9	125	54.8	-3.1
Sierra Leone	145	52.6	0.9	147	51.7	1.2	148	50.5	2.2	151	48.3	-0.8
Myanmar	146	52.5	5.6	161	46.9	0.4	162	46.5	7.3	172	39.2	0.5
Vietnam	147	52.4	0.7	148	51.7	0.9	147	50.8	-0.2	140	51	-0.3
Uzbekistan	148	52.3	5.3	160	47	0.5	163	46.5	0.5	162	46	0.2
Malawi	149	52.9	-1.9	126	54.8	-0.6	124	55.4	0.1	118	55.3	-1.1
Cameroon	150	51.8	-0.1	146	51.9	-0.7	136	52.6	0.3	133	52.3	0.5
Central African Republic	151	51.8	5.9	166	45.9	-0.8	161	46.7	-3.7	142	50.4	0.1
Papua New Guinea	152	50.9	-2.2	137	53.1	-0.8	132	53.9	0.3	130	53.6	-0.2
Kiribati	153	50.9	4.5	164	46.4	0.1	164	46.3	0.4	163	45.9	-1
Niger	154	50.8	-3.8	127	54.6	-0.5	127	55.1	1.2	128	53.9	-0.4
Iran	155	50.5	8.7	171	41.8	1.5	173	40.3	-2.9	168	43.2	0.9
Argentina	156	50.4	6.3	169	44.1	-0.5	166	44.6	-2.1	160	46.7	-1.3
Maldives	157	50.3	-3.1	134	53.4	2.4	145	51	2	149	49	-0.2
Mozambique	158	49.9	-4.9	125	54.8	-0.2	128	55	0	123	55	-2.1
Haiti	159	49.6	-1.7	151	51.3	2.4	156	48.9	0.8	152	48.1	-2.6
Ecuador	160	49.3	0.1	156	49.2	1.2	159	48	1.1	159	46.9	-1.4
Liberia	161	49.1	-3.6	141	52.7	0.3	138	52.4	3.1	147	49.3	0.7
Chad	162	49	3.1	165	45.9	1.4	167	44.5	-0.7	164	45.2	0.4
Afghanistan	163	48.9
Angola	165	48.5	0.6	158	47.9	0.2	160	47.7	0.4	158	47.3	0.6
Ukraine	166	48.1	1.2	162	46.9	-2.4	155	49.3	3	161	46.3	0.2
Suriname	167	48	-6.2	129	54.2	0	130	54.2	2.2	135	52	-0.6
Bolivia	168	47.7	0.9	163	46.8	-1.6	158	48.4	0.5	156	47.9	-2.3
Guinea	169	47.6	-4.5	144	52.1	-1.4	133	53.5	2.3	137	51.2	0.4
Turkmenistan	170	47.4	6	172	41.4	-0.8	171	42.2	-0.4	169	42.6	-1.2
Djibouti	171	46.7	-10.8	112	57.5	1.6	118	55.9	2	127	53.9	0
Algeria	172	46.5	-2.4	157	48.9	-1.9	146	50.8	1.2	145	49.6	-1.4
Timor-Leste	173	46.3	0.8	167	45.5	2.3	170	43.2	-0.5	166	43.7	0.4
Equatorial Guinea	174	45	4.6	173	40.4	-4	168	44.4	2.1	170	42.3	-0.5
Zimbabwe	175	44	6.4	175	37.6	2.1	176	35.5	6.9	175	28.6	2.3
Eritrea	176	42.2	3.3	174	38.9	0.4	174	38.5	2.2	173	36.3	0.1
Republic of the Congo	177	40	-5	168	45	4.4	172	40.6	1	171	39.6	-1.5
Cuba	178	33.9	4.3	177	29.6	0.9	177	28.7	0.2	176	28.5	0.2
Venezuela	179	27	-7.3	176	34.3	-2	175	36.3	0.2	174	36.1	-2
North Korea	180	4.9	3.6	178	1.3	0.3	178	1	-0.5	177	1.5	0.5
Yemen				133	53.7	-1.8	123	55.5	-0.4	113	55.9

2020 Index in full

Key: ██ Free (80–100) ██ Mostly Free (70.0–79.9) ██ Moderately Free (60.0–69.9) ██ Mostly Unfree (50.0–59.9) ██ Repressed (0–49.9)

Country Name	2020 Score	Property Rights	Judical Effectiveness	Government Integrity	Tax Burden	Gov't Spending	Fiscal Health	Business Freedom	Labor Freedom	Monetary Freedom	Trade Freedom	Investment Freedom	Financial Freedom
Afghanistan	54.7	48.3	30.0	24.8	91.4	79.2	99.9	54.7	61.6	81	66.0	10	10
Albania	66.9	57.1	33.0	38.8	85.9	74.6	86.3	65.7	52.1	81.2	88.4	70	70
Algeria	46.9	37.9	35.0	28.3	75.4	52.6	17.3	63.0	50.5	76.2	66.2	30	30
Angola	52.2	36.9	14.3	15.1	87.3	85.7	71.9	57.7	61.1	59.6	66.2	30	40
Argentina	53.1	50.5	47.0	49.7	69.6	50.7	24.7	60.2	46.5	53.7	69.2	55	60
Armenia	70.6	60.7	54.1	43.4	84.9	80.6	68.8	81.0	72.5	76.0	80.6	75	70
Australia	82.6	82.8	86.1	89.3	63.0	61.6	91.8	87.8	84.0	86.2	88.2	80	90
Austria	73.3	87.3	73.2	84.0	51.3	27.2	87.9	73.0	68.3	81.0	86.4	90	70
Azerbaijan	69.3	67.1	53.9	38.7	88.0	63.0	99.2	80.8	66.2	69.8	74.6	70	60
Bahamas	64.5	54.9	46.4	46.0	96.8	87.4	69.2	69.0	70.0	76.3	47.8	50	60
Bahrain	66.3	70.6	48.4	51.0	99.4	66.1	2.6	70.5	71.1	81.1	79.4	75	80
Bangladesh	56.4	41.0	36.1	26.6	72.7	94.3	76.8	52.3	68.4	70.0	63.6	45	30
Barbados	61.4	56.6	36.1	44.0	73.6	69.2	63.1	69.4	60.0	77.9	56.6	70	60
Belarus	61.7	63.2	48.4	37.4	88.8	54.1	95.4	76.4	74.8	69.8	82.0	30	20
Belgium	68.9	84.5	62.5	80.2	46.7	17.2	77.0	75.2	61.1	80.5	86.4	85	70
Belize	57.4	44.4	46.4	33.5	79.5	66.3	53.9	60.9	54.3	80.4	64.2	55	50
Benin	55.2	41.3	36.4	29.6	69.0	84.2	46.6	58.0	53.7	84.3	49.4	60	50
Bhutan	62.1	69.9	46.4	51.2	82.9	71.1	74.8	68.2	79.4	71.6	79.4	20	30
Bolivia	42.8	20.1	11.2	23.1	86.3	54.2	14.2	58.3	52.9	69.9	67.8	15	40
Bosnia and Herzegovina	62.6	44.4	33.9	41.8	83.6	49.3	97.3	45.7	67.4	82.7	80.0	65	60
Botswana	69.6	60.9	45.2	46.4	87.0	69.1	97.5	69.3	68.2	73.6	82.8	65	70
Brazil	53.7	57.3	46.7	45.6	70.4	54.6	4.6	60.5	49.5	77.2	67.8	60	50
Brunei Darussalam	66.6	69.8	56.8	49.6	89.8	61.5	20.0	84.1	90.5	77.1	85.0	65	50
Bulgaria	70.2	64.2	45.4	44.2	90.3	66.1	99.2	62.6	68.1	85.7	86.4	70	60
Burkina Faso	56.7	46.9	42.6	34.1	81.3	77.0	49.2	47.6	52.1	82.4	61.8	65	40
Burma	54.0	32.5	14.3	31.5	86.6	87.5	84.6	53.1	59.9	77.5	70.8	30	20
Burundi	49.0	24.9	26.9	22.3	73.7	85.8	13.2	55.1	67.4	70.3	68.2	50	30
Cambodia	57.3	43.1	28.1	14.8	89.4	83.9	94.8	31.2	62.5	74.8	65.4	50	50
Cameroon	53.6	45.3	30.8	20.8	74.8	88.3	63.7	46.0	50.1	84.1	59.6	30	50
Canada	78.2	87.7	72.7	90.3	76.5	50.9	83.3	81.7	72.0	76.0	87.0	80	80
Cabo Verde	63.6	47.5	48.0	46.1	77.7	71.7	66.2	58.5	55.6	83.1	68.2	80	60
Central African Republic	50.7	38.1	31.7	24.3	65.5	93.5	95.3	24.3	40.4	73.3	47.2	45	30
Chad	50.2	32.4	27.4	15.1	45.8	93.5	95.6	26.8	43.0	76.1	47.2	60	40
Chile	76.8	69.9	61.1	73.4	76.4	80.8	90.5	75.0	64.7	85.2	89.0	85	70
China	59.5	60.9	76.3	46.0	70.4	67.9	67.5	76.8	64.4	71.1	72.4	20	20
Colombia	69.2	61.1	32.8	46.1	70.4	77.0	85.5	71.3	78.0	77.5	81.2	80	70
Comoros	53.7	43.1	31.7	23.8	63.6	73.6	85.0	47.8	60.3	81.7	59.2	45	30
Congo, Democratic Republic of the Congo	49.5	30.1	26.5	13.1	74.4	95.4	98.0	51.2	41.6	49.6	64.6	30	20
Congo, Republic of	41.8	40.7	30.0	23.1	63.3	56.2	0.6	37.5	35.3	83.2	56.8	45	30
Costa Rica	65.8	66.7	54.4	57.2	78.9	88.4	39.7	66.5	55.0	81.2	81.4	70	50
Côte d'Ivoire	59.7	48.5	33.0	25.5	77.8	82.5	66.9	62.3	49.2	75.7	69.4	75	50
Croatia	62.2	69.9	39.6	51.0	65.9	34.7	89.1	53.6	44.0	77.6	86.4	75	60
Cuba	26.9	20.1	10.0	38.7	49.5	0.0	14.8	20.0	20.0	64.1	65.6	10	10
Cyprus	70.1	77.4	50.5	57.6	74.8	58.6	80.0	76.6	59.7	84.3	86.4	75	60
Czech Republic	74.8	76.8	49.9	64.2	82.0	52.7	97.8	69.7	77.6	80.8	86.4	80	80
Denmark	78.3	86.3	84.6	93.0	42.0	19.7	97.7	88.7	86.2	84.6	86.4	90	80
Djibouti	52.9	58.8	31.7	25.5	75.3	53.6	10.9	62.3	60.6	76.5	49.8	80	50
Dominica	60.8	59.8	62.6	51.2	70.5	16.0	86.2	70.4	60.7	83.5	68.4	70	30
Dominican Republic	60.9	55.8	18.2	31.2	84.5	90.5	82.4	50.3	57.5	73.5	76.6	70	40
Ecuador	51.3	40.4	20.7	33.4	77.5	57.9	62.3	53.8	48.0	81.0	66.0	35	40
Egypt	54.0	48.5	51.2	34.0	86.1	69.9	2.8	62.0	51.5	61.3	70.2	60	50
El Salvador	61.6	41.6	30.1	31.6	77.8	82.8	80.0	53.6	52.3	78.6	80.8	70	60
Equatorial Guinea	48.3	38.1	19.5	15.1	75.1	86.4	77.2	37.5	34.2	78.1	48.8	40	30
Eritrea	38.5	32.5	14.3	21.4	81.4	74.7	0.0	18.2	69.7	61.0	69.2	0	20
Estonia	77.7	83.2	73.7	85.9	81.1	53.3	99.9	73.5	57.3	78.6	86.4	90	70
Eswatini	55.3	49.8	42.4	37.2	72.8	62.8	17.6	58.9	67.9	75.2	88.6	50	40
Ethiopia	53.6	36.5	45.1	29.4	77.4	90.8	79.2	48.6	57.6	62.7	60.8	35	20
Fiji	63.4	69.9	42.6	45.6	80.5	68.9	84.2	62.6	76.2	72.5	52.8	55	50
Finland	75.7	92.3	80.5	96.1	67.5	11.2	90.7	84.8	50.3	83.6	86.4	85	80
France	66.0	85.9	71.2	83.3	48.8	4.5	67.1	82.5	46.1	76.7	81.4	75	70
Gabon	56.7	36.9	20.8	36.7	74.3	89.3	88.9	52.1	52.3	77.3	51.2	60	40
Gambia	56.3	43.9	43.4	39.2	74.6	85.6	25.3	53.5	67.4	63.3	64.6	65	50
Georgia	77.1	68.6	57.9	64.8	87.1	73.6	94.4	85.3	76.3	78.3	88.6	80	70
Germany	73.5	80.5	74.3	82.8	60.9	42.2	92.9	82.8	53.0	76.7	86.4	80	70
Ghana	59.4	52.5	46.1	32.2	78.4	88.1	35.6	58.4	59.3	68.9	63.8	70	60
Greece	59.9	57.0	48.6	51.2	59.0	31.5	80.0	73.7	52.0	79.4	81.4	55	50
Guatemala	64.0	45.5	32.2	29.6	79.2	95.6	95.7	62.6	48.4	77.4	82.2	70	50
Guinea	56.5	38.7	33.3	16.1	70.0	91.4	93.8	55.4	58.0	70.6	60.4	50	40
Guinea-Bissau	53.3	41.3	48.4	14.8	88.7	86.7	67.3	39.1	61.2	82.7	49.0	30	30
Guyana	56.2	53.6	42.6	34.1	66.0	64.4	58.6	58.9	62.1	82.5	66.8	55	30
Haiti	52.3	16.4	23.3	22.3	80.2	89.4	96.3	33.6	62.3	61.5	67.0	45	30
Honduras	61.1	48.6	34.2	28.6	82.3	78.2	96.7	56.7	31.5	72.2	79.4	65	60
Hong Kong	89.1	93.6	76.8	84.7	93.0	90.3	99.9	96.2	89.1	80.7	95.0	80	90
Hungary	66.4	64.8	45.7	47.5	79.9	34.5	83.6	60.2	64.6	79.9	86.4	80	70
Iceland	77.1	87.6	63.2	90.3	71.7	44.1	97.5	84.7	63.5	80.3	86.8	85	70
India	56.5	63.0	64.1	47.2	79.4	77.9	13.1	65.6	41.2	73.0	73.4	40	40
Indonesia	67.2	59.8	56.2	37.2	83.4	91.7	90.2	70.0	49.2	78.4	80.8	50	60
Iran	49.2	36.9	37.1	33.5	81.0	89.2	86.5	57.3	50.7	49.0	54.6	5	10
Iraq	N/A	43.9	11.2	20.8	N/A	59.5	76.6	52.6	44.8	76.4	N/A	N/A	N/A
Ireland	80.9	86.6	64.4	82.8	76.4	78.8	91.4	82.7	75.9	85.3	86.4	90	70
Israel	74.0	82.3	71.8	77.2	61.0	53.5	89.2	72.2	64.4	84.9	86.2	75	70
Italy	63.8	75.4	51.3	62.2	56.0	28.5	71.1	70.4	50.9	83.2	86.4	80	50
Jamaica	68.5	62.1	50.5	46.8	80.0	74.8	80.2	77.7	74.0	77.7	68.4	80	50
Japan	73.3	86.6	71.4	80.5	68.3	55.8	62.0	81.4	78.7	84.4	80.0	70	60
Jordan	66.0	64.8	54.6	49.6	91.8	73.5	55.9	60.1	52.5	77.6	81.2	70	60
Kazakhstan	69.6	61.3	62.1	40.9	92.3	85.5	84.1	74.6	86.0	68.1	80.2	50	50
Kenya	55.3	63.2	48.6	28.2	78.7	79.6	13.5	55.0	55.8	75.0	60.4	55	50
Kiribati	45.2	47.5	34.2	24.3	72.4	0.0	99.0	40.6	62.9	82.2	23.8	25	30
Korea, North	4.2	20.1	5.0	15.1	0.0	0.0	0.0	5.0	5.0	0.0	0.0	0	0
Korea, South	74.0	82.5	61.0	67.5	63.9	67.7	96.7	90.5	56.2	82.1	80.0	70	70
Kosovo	67.4	66.3	54.1	39.2	92.6	76.5	94.0	75.0	61.0	78.4	76.2	65	30
Kuwait	63.2	57.1	47.0	46.0	97.7	22.4	99.6	61.3	62.2	73.2	76.4	55	60
Kyrgyz Republic	62.9	53.6	31.3	32.0	94.1	58.5	66.7	73.6	79.6	76.4	79.2	60	50
Laos	55.5	42.5	37.3	32.0	87.0	86.6	53.3	54.3	58.6	76.8	82.0	35	20
Latvia	71.9	72.3	51.1	46.4	76.9	58.3	96.5	77.0	72.4	80.2	86.4	85	60
Lebanon	51.7	44.6	30.8	25.0	90.8	72.5	0.0	45.6	47.8	75.6	77.4	60	50
Lesotho	54.5	45.2	47.0	29.6	73.0	34.4	60.3	52.8	58.8	75.7	82.2	55	40
Liberia	49.0	31.1	37.9	23.8	86.1	65.5	59.7	48.2	38.2	62.1	60.6	55	20
Libya	N/A	30.1	20.8	18.9	N/A	0	N/A	40.7	53.9	53.6	N/A	5	N/A
Liechtenstein	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	85	80
Lithuania	76.7	77.9	62.1	67.4	84.9	66	97.4	71.9	76.5	79.7	86.4	80	70
Luxembourg	75.8	86.4	74.4	90.3	64.1	45.4	99.0	66.8	45.3	76.4	86.4	95	80
Macau	70.3	60.0	60.0	33.5	75.0	89.8	99.9	60.0	50.0	70.0	90.0	85	70
North Macedonia	69.5	62.5	42.7	42.2	91.5	71.0	87.7	80.6	67.0	77.7	86.2	65	60
Madagascar	60.5	45.6	39.6	25.0	90.7	91.5	90.6	47.3	44.6	72.7	73.6	55	50
Malawi	52.8	43.1	42.1	24.8	79.0	71.7	23.6	41.9	62.8	69.1	75.4	50	50
Malaysia	74.7	86.5	74.6	49.4	85.7	84.6	80.2	87.8	74.5	81.6	82.0	60	50
Maldives	56.5	48.5	31.7	39.2	95.8	67.9	42.9	78.7	70.6	77.0	61.0	35	30
Mali	55.9	36.1	32.7	20.7	69.2	85.8	73.6	49.2	52.2	81.6	65.0	65	40
Malta	69.5	70.5	49.6	55.1	64.8	60.0	95.9	68.0	61.1	77.1	86.4	85	60
Mauritania	55.3	32.5	20.8	21.9	80.9	76.4	85.9	61.7	51.3	79.6	62.6	50	40
Mauritius	74.9	75.8	62.6	53.3	91.5	82.1	79.3	82.5	60.2	73.8	88.2	80	70
Mexico	66.0	58.3	34.7	36.7	76.1	79.3	87.5	67.0	58.4	70.9	87.6	75	60
Micronesia	52.0	30.1	26.5	22.3	92.9	0.0	99.2	56.9	78.2	82.2	70.8	35	30
Moldova	62.0	60.5	31.7	37.2	86.1	71.6	96.2	68.1	37.0	72.0	78.0	55	50
Mongolia	55.9	50.3	23.0	36.9	87.4	66.6	9.3	63.6	75.7	74.2	74.0	50	60
Montenegro	61.5	59.1	55.3	47.5	85.4	32.1	23.4	70.8	74.8	80.3	83.8	75	50
Morocco	63.3	66.3	48.0	39.2	71.8	72.8	67.2	70.4	33.0	77.0	78.6	65	70
Mozambique	50.5	34.9	31.7	23.2	74.1	69.6	40.3	55.3	41.7	72.0	78.0	35	50
Namibia	60.9	58.9	58.5	46.0	65.7	58.1	28.7	65.6	84.9	75.9	83.2	65	40
Nepal	54.2	40.7	32.0	31.5	83.4	77.9	98.1	61.6	53.7	71.2	60.4	10	30
Netherlands	77.0	90.0	73.9	90.1	51.7	45.2	94.1	80.4	60.2	82.5	86.4	90	80
New Zealand	84.1	93.3	79.1	93.9	71.0	57.8	98.3	90.4	86.7	87.0	92.2	80	80
Nicaragua	57.2	33.5	19.5	24.3	76.3	77.5	87.2	55.1	55.5	71.5	75.4	60	50
Niger	54.7	45.6	42.6	33.4	76.7	79.0	44.7	55.4	47.9	74.8	61.2	55	40
Nigeria	57.2	38.1	32.2	22.3	85.1	96.2	64.1	54.7	84.0	61.7	62.4	45	40
Norway	73.4	84.3	82.8	95.6	57.7	25.6	97.3	86.1	57.4	74.8	83.8	75	60
Oman	63.6	66.4	66.2	64.6	98.4	36.2	14.8	74.6	56.9	78.4	81.6	65	60
Pakistan	54.8	48.3	43.2	29.7	80.4	86.8	40.4	54.9	41.3	72.5	64.8	55	40
Panama	67.2	58.8	30.0	37.2	85.3	85.7	91.2	70.8	43.3	79.4	79.2	75	70
Papua New Guinea	58.4	54.9	48.4	29.7	71.5	86.4	76.4	58.4	69.6	70.7	79.8	25	30
Paraguay	63.0	44.7	26.4	29.6	96.1	88.6	98.0	60.9	29.0	72.5	75.4	75	60
Peru	67.9	54.9	30.6	33.5	80.8	86.4	89.0	67.1	62.9	86.3	88.4	75	60
Philippines	64.5	54.6	34.2	38.7	76.7	87.9	96.3	59.5	57.4	66.9	81.6	60	60
Poland	69.1	63.1	42.8	64.6	74.7	48.8	92.2	62.6	62.0	82.0	86.4	80	70
Portugal	67.0	75.4	65.6	68.9	59.6	39.8	74.4	76.5	44.1	83.0	86.4	70	60
Qatar	72.3	66.9	58.7	64.6	99.8	64.6	93.7	71.1	65.9	80.6	81.6	60	60
Romania	69.7	72.5	56.1	55.1	90.3	70.4	85.6	58.6	63.0	78.1	86.4	70	50
Russia	61.0	56.8	44.4	41.3	88.5	63.8	98.7	80.2	52.1	68.2	77.8	30	30
Rwanda	70.9	76.5	78.3	57.6	79.2	79.8	86.7	60.3	81.8	79.8	70.4	60	40
Saint Lucia	68.2	69.8	62.6	41.8	76.9	80.6	83.8	76.7	66.4	82.0	73.2	65	40
Saint Vincent and the Grenadines	66.8	50.5	62.6	46.1	72.4	73.7	89.0	75.8	73.3	80.8	67.2	70	40
Samoa	62.1	60.5	31.7	31.5	79.6	62.5	94.6	76.6	78.8	79.5	64.6	55	30
São Tomé and Príncipe	56.2	41.0	26.5	37.4	88.3	77.1	73.0	64.8	43.4	68.1	64.2	60	30
Saudi Arabia	62.4	64.6	72.3	49.6	99.8	61.8	19.3	66.6	63.3	81.0	75.4	45	50
Senegal	58.0	52.4	39.8	40.6	70.2	84.4	75.2	50.4	38.1	79.7	65.4	60	40
Serbia	66.0	55.4	46.8	44.0	83.7	49.7	94.1	72.6	66.9	80.7	78.0	70	50
Seychelles	64.3	68.3	46.4	53.3	76.8	58.9	93.2	65.3	62.8	78.6	82.6	55	30
Sierra Leone	48.0	40.7	39.4	21.8	87.5	83.5	9.8	50.1	29.7	64.2	69.4	60	20
Singapore	89.4	96.8	92.9	92.4	90.3	91.1	80.0	92.8	90.9	85.6	94.8	85	80
Slovakia	66.8	73.1	41.7	49.7	78.5	50.2	92.6	55.3	52.6	75.9	86.4	75	70
Slovenia	67.8	76.5	48.6	67.4	59.2	42.9	90.3	78.4	61.4	82.2	86.4	70	50
Solomon Islands	52.9	54.6	53.7	33.5	65.6	34.2	76.6	67.7	72.0	84.3	48.0	15	30
Somalia	N/A	20.1	26.5	13.1	N/A	N/A	N/A	31.6	N/A	N/A	N/A	N/A	N/A
South Africa	58.8	58.4	38.0	46.6	63.7	67.4	64.0	62.0	58.8	75.9	75.8	45	50
Spain	66.9	74.9	51.8	55.1	62.1	48.3	62.6	66.8	57.7	82.0	86.4	85	70
Sri Lanka	57.4	47.7	39.2	34.7	84.8	88.9	39.3	76.5	58.6	71.1	67.6	40	40
Sudan	45.0	33.7	20.8	25.5	86.1	94.5	12.4	53.5	60.0	77.0	52.0	5	20
Suriname	49.5	45.6	19.5	36.9	70.5	74.8	10.3	48.2	71.9	76.1	69.8	40	30
Sweden	74.9	88.8	79.9	91.4	43.6	25.8	97.0	85.3	53.8	81.2	86.4	85	80
Switzerland	82.0	87.4	81.5	90.1	70.1	65.3	96.7	74.2	72.4	84.4	86.6	85	90
Syria	N/A	45.6	20.8	21.9	N/A	N/A	N/A	48.9	59.3	58.8	51.6	0	N/A
Taiwan	77.1	86.9	70.1	68.9	75.0	90.5	91.0	93.9	60.3	82.7	86.0	60	60
Tajikistan	52.2	49.1	50.0	32.0	91.8	62.3	26.0	65.9	47.7	71.0	75.0	25	30
Tanzania	61.7	41.9	43.4	32.5	80.6	91.6	92.9	45.9	66.4	72.2	67.8	55	50
Thailand	69.4	59.5	48.0	43.4	80.7	85.9	96.4	83.0	63.7	74.0	83.0	55	60
Timor-Leste	45.9	45.2	12.6	32.5	96.3	5.3	19.9	64.0	58.9	76.5	75.0	45	20
Togo	54.1	41.6	31.7	31.2	67.5	78.6	59.4	55.0	46.9	79.5	63.2	65	30
Tonga	58.8	60.9	26.5	44.2	85.2	42.8	95.2	75.0	69.8	71.4	74.0	40	20
Trinidad and Tobago	58.3	56.6	42.1	37.4	82.6	66.5	15.9	67.3	76.0	77.4	67.8	60	50
Tunisia	55.8	56.4	43.6	39.7	74.2	73.1	38.8	78.1	49.8	73.9	66.4	45	30
Turkey	64.4	57.4	53.7	44.6	76.7	64.1	86.1	67.0	49.2	66.1	78.0	70	60
Turkmenistan	46.5	20.1	20.0	21.4	95.9	93.1	94.5	30.0	20.0	68.7	74.2	10	10
Uganda	59.5	45.6	36.9	21.4	80.3	88.4	64.3	46.0	83.1	78.0	75.4	55	40
Ukraine	54.9	47.5	42.2	37.9	81.1	47.2	83.9	61.3	48.3	63.0	81.2	35	30
United Arab Emirates	76.2	80.3	84.6	64.6	99.2	72.1	94.1	78.6	81.3	79.6	80.4	40	60
United Kingdom	79.3	92.2	82.7	89.9	64.7	49.5	78.1	94.7	73.1	80.3	86.4	80	80
United States	76.6	81.8	83.7	77.2	74.6	56.5	54.3	83.3	87.9	75.5	79.8	85	80
Uruguay	69.1	72.0	59.8	73.5	75.2	66.5	72.3	73.6	71.0	72.7	77.4	85	30
Uzbekistan	57.2	59.1	34.2	28.2	91.6	74.7	98.9	72.6	59.9	59.9	67.6	20	20
Vanuatu	60.7	68.3	36.1	37.4	97.1	61.1	78.4	51.8	54.6	74.6	63.4	65	40
Venezuela	25.2	10.1	12.6	14.6	72.8	66.3	0.0	30.8	27.7	0.0	58.0	0	10
Vietnam	58.8	52.6	40.1	33.8	79.5	75.9	58.0	65.6	62.5	68.2	79.6	40	50
Yemen	N/A	22.5	20.1	21.9	N/A	96.5	60.1	43.9	43.8	42.6	70	50	N/A
Zambia	53.5	45.2	31.3	28.4	73.2	81.7	18.4	66.4	47.0	72.2	72.6	55	50
Zimbabwe	43.1	33.7	28.3	18.9	62.3	88.0	36.2	39.1	43.1	62.8	70.0	25	10

Historical Index

Country/Region	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Hong Kong[lower-alpha 1]	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Ireland	3	3	3	4	4	4	4	3	10	11	11	13	27	20
Australia	4	4	7	9	8	10	11	8	5	5	7	9	10	8
United States	5	6	5	5	7	7	8	6	8	7	8	8	5	4
New Zealand	6	5	4	3	3	3	3	4	3	3	3	3	3
Canada	7	10	10	12	12	13	14	21	20	25	27	26	20	18
Chile	8	8	8	8	11	12	9	12	12	12	9	7	13	14
Switzerland	9	9	9	6	5	6	6	10	6	4	4	4	4
United Kingdom	10	7	6	7	9	9	7	7	4	6	5	5	7	3
Denmark	11	12	13	13	17	20	23	33	33	32	34	30	31
Estonia	12	11	15	14	10	8	10	9	24	13	15	24	38	26
Netherlands	13	15	16	18	14	14	14	16	21	57	24	20	23
Iceland	14	13	11	10	19	16	19	15	15	19	18	19
Luxembourg	15	14	12	11	6	5	5	5	7	15	13	12	15
Finland	16	16	17	21	16	15	16	27	50	54	55	39	47
Japan	17	18	18	36	50	34	39	23	19	27	21	21	14	6
Mauritius	18	32	35	35	51	52	33	45	36	20
Bahrain	19	24	23	22	13	11	12	11	11	8	6	6	6	5
Belgium	20	17	24	30	30	33	34	57	55	60	48	44	36
Barbados	21	27	20	24	28	23	17	20	27	37	33	46	53
Cyprus	22	20	21	20	15	19	20	22	35	33	29	27	30
Germany	23	22	25	28	27	26	25	29	43	40	52	29	25	17
The Bahamas	24	19	19	15	20	17	15	14	16	10	10	10	11	11
Taiwan	25	25	29	19	26	21	22	18	17	18	20	22	9	7
Lithuania	26	21	22	23	18	27	43	53	67	67	74	78	104
Sweden	27	33	27	27	24	24	24	43	47	51	53	53	55	41
Armenia	28	30	14	25	23	37	32	46	62	96	117	123	125
Trinidad and Tobago	29	23	26	17	21	29	26	19	13	16	17	16	24
Austria	30	26	30	34	32	35	36	37	31	53	43	40	26	16
Spain	31	28	32	31	29	28	29	36	41	45	62	68	65	34
Georgia	32	31	54	93	78	84	104	87	107	114	122	125	123
El Salvador	33	29	28	16	22	22	21	17	9	9	22	18	21	19
Norway	34	37	34	45	42	39	37	41	22	29	31	41	39
Slovakia	35	36	33	42	48	77	76	85	108	105	85	85	75	46
Botswana	36	35	31	26	25	30	42	42	42	59	60	72	56	57
Czech Republic	37	39	40	47	35	36	40	26	30	23	28	54	29	23
Latvia	38	38	37	39	33	44	52	44	57	50	56	57	86
Kuwait	39	41	41	48	55	43	46	35	25	24	38	42	35
Uruguay	40	34	43	33	37	25	30	24	28	30	26	31	46	37

1. Special administrative region (SAR) of China since 1997

See also

• List of countries by economic freedom
• List of freedom indices
• Gross National Happiness – GNH (Bhutan)
• Happiness economics
• Corruption Perceptions Index
• Ease of doing business index

References

1. "Executive Summary" (PDF). Index of Economic Freedom. 15 January 2008. Archived from the original (PDF) on 27 February 2008. Retrieved 4 February 2008.
2. William Beach, Time Kane (15 January 2008). "Methodology; Measuring the 10 Economic Freedoms" (PDF). Index of Economic Freedom. Archived from the original (PDF) on 27 February 2008. Retrieved 4 February 2008.
3. "Heritage Foundation / About".
4. Mary Anastasia O'Grady (15 January 2008). "The Real Key to Development". Wall Street Journal. Retrieved 4 February 2008.
5. Carl J. Schramm (15 January 2008). "Chapter 1 Economic Fluidity: A Crucial Dimension of Economic Freedom" (PDF). The Heritage Foundation. Archived from the original (PDF) on 27 February 2008. Retrieved 4 February 2008.
6. "In Pursuit of Happiness Research: Is It Reliable? What Does It Imply for Policy?", Will Wilkinson, The Cato institute, Policy Analysis No. 590, 11 April 2007
7. Ovaska Tomi, Takashima Ryo (2006). "Economic policy and the level of self-perceived well-being: An international comparison". The Journal of Socio-Economics. 35 (2): 308–325. doi:10.1016/j.socec.2005.11.054.
8. More Freedom = More Happiness Archived 29 October 2008 at the Wayback Machine, Public Issues, Libertad Desarrollo, No. 750, 23 January 2006, ISSN 0717-1528
9. "Chapter2: Economic Freedom and Peace" Archived 16 October 2008 at the Wayback Machine, Erik Gartzke, in Economic Freedom of the World: 2005 Annual Report, James Gwartney and Robert Lawson, Fraser Institute, 30 August 2005
10. Barry Wood (15 January 2008). "Economic Freedom Holding Steady, 14th Index of Economic Freedom Shows". PR Newswire. Archived from the original on 18 January 2008. Retrieved 4 February 2008.
11. "Executive Highlights" (PDF). The Heritage Foundation. The Heritage Foundation. 2011. Retrieved 20 February 2011.
12. Ed Feulner (22 January 2008). "Football and economic freedom". IndyStar. Archived from the original on 19 March 2012. Retrieved 4 February 2008.
13. Miller, Terry (2011). "The Limits of Government" (PDF). Heritage.org. The Heritage Foundation. p. 13. Retrieved 20 February 2011.
14. "Global economic freedom dipped last year, annual survey says; Hong Kong remains world's freest". Washington Post. Associated Press. 12 January 2012. Retrieved 24 January 2012.
15. Edwin Feulner (17 January 2012). "Still in top 10, but falling fast". The Washington Times. Retrieved 24 January 2012.
16. Edwin J. Feulner (12 January 2012). "A Step Backward for Economic Freedom in 2012". The Wall Street Journal. Retrieved 24 January 2012.
17. Adrian Karatnycky. Freedom in the World: The Annual Survey of Political Rights and Civil Liberties. Transaction Publishers. 2001. ISBN 978-0-7658-0101-2. p. 11
18. "Report on the Criteria and Methodology for Determining the Eligibility of Candidate Countries for Millennium Challenge Account Assistance during Fiscal Year 2008" (PDF). Millennium Challenge Corporation. 1 September 2007. Archived from the original (PDF) on 27 February 2008. Retrieved 4 February 2008.
19. The End of Poverty: Economic Possibilities for our Time, Jeffrey Sachs, Penguin Books, 2005, ISBN 1-59420-045-9, pp. 320–321.
20. "UAE challenges its economic freedom ranking in paper by Heritage Foundation". Business Intelligence Middle East. 31 January 2008. Archived from the original on 7 July 2011. Retrieved 31 January 2008.
21. Stefan Karlsson (21 January 2005). "The Failings of the Economic Freedom Index". Mises Daily. Ludwig von Mises Institute. Archived from the original on 14 February 2015. Retrieved 18 April 2008.
22. "Free, Free at Last", John Miller, Dollars and Sense, No. 258, March/April 2005
23. "Laissez-faire Olympics, an LBO special report", Left Business Observer, 26 March 2005
24. Methodology | 2018 Index of Economic Freedom Book
25. "Frequently Asked Questions". Index of Economic Freedom. 15 January 2008. Archived from the original on 23 January 2008. Retrieved 4 February 2008.
26. Heritage - Country Rankings
27. "2017 IEF (XLS) table download". The Heritage Foundation. Retrieved 1 February 2017.
28. "2016 IEF (XLS) table download". The Heritage Foundation. Retrieved 2 February 2016.
29. "2015 IEF (XLS) table download". The Heritage Foundation. Retrieved 2 February 2015.
30. "2014 IEF (XLS) table download". The Heritage Foundation. Retrieved 2 February 2014.

External links

• Official website
• Index of Economic Freedom in the 50 States from the Mercatus Center
• List of Global Development Indexes and Rankings