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2007 Index of Economic Freedom January 19, 2007

Posted by Brian L. Belen in Academically Speaking, Odds and Ends.
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The Heritage Foundation and the Wall Street Journal have released the 2007 Index of Economic Freedom, a ranking of 161 countries across ten categories that measure components of economic freedom. Predictably, a bunch of the usual suspects (i.e. developed countries) top the list, though it is noteworthy that three Asia-Pacific economies (Hong Kong, Singapore and Australia, respectively) rank on the top three. The United States is ranked fourth, China is ranked 119th, and at the bottom of the table are the likes of Zimbabwe, Libya, Cuba and North Korea.

Interestingly, the Philippines ranks among the countries described as “moderately free”, coming in at 97th with an aboslute score slightly worse than last year’s (by one-tenth of a percentage point). For context, this showing is better than neighboring Indonesia (ranked 110th), but worse than, say, Swaziland (ranked 64th). Also, it is curious to note that the country fares well in some areas more than others, which tends to bring to light the contradictions in the Philippine political-economic environment. The index reports that the country does well where trade, fiscal and monetary freedoms are concerned, and does exceedingly well in the category described as “freedom from government” (the country’s strongest category). At the same time, the Philippines rates poorly on items such as investment freedom, property rights, and especially “freedom from corruption” (its weakest category).

The complete report, explaining in detail the methodology used, is freely available for download on the Heritage Foundation’s website, where the complete rankings can be viewed online. The website also allows visitors to make country-by-country comparisons across all or selected categories, as well as view countries’ scores over time.

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Comments»

1. Vincent - January 20, 2007

I am amazed how your brain works. Your previous post had the words “Sonic Rush” and “Minish Cap” in them and this post is on Economic Freedom Index. I am not judging just at awe on how complex and diverse we human beings are. Interior disposition/life is indeed the great unknown.

2. Brian L. Belen - January 23, 2007

I think you’re surprise is based on the (faulty) premise that my “brain” in fact “works”. There is a method to my madness, oh yes…

3. 2008 Index of Economic Freedom « BRAIN DRAIN - March 7, 2008

[…] these things go, there are some noteworthy developments in the index compared to its 2007 counterpart. Hong Kong and Singapore remain at the top of the list, with Ireland edging out Australia for the […]


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