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Showing posts with label economic index rank. Show all posts
Showing posts with label economic index rank. Show all posts

January 29, 2011

How Countries Rate on Economic Index: Infographic

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For over a decade, The Wall Street Journal and  The Heritage Foundation,  have tracked the march of economic freedom around the world with the influential Index of Economic Freedom.The Index of Economic Freedom is a series of 10 economic measurements  and the  objective is to measure the degree of economic freedom in the world's nations.
The index scores nations on 10 broad factors of economic freedom using statistics from organizations like the World Bank, the IMF and the Economist Intelligence Unit:
  • Business Freedom
  • Trade Freedom
  • Monetary Freedom
  • Government Size
  • Fiscal Freedom
  • Property Rights
  • Investment Freedom
  • Financial Freedom
  • Freedom from Corruption
  • Labor Freedom
The 10 factors are averaged equally into a total score. Each one of the 10 freedoms is graded using a scale from 0 to 100, where 100 represents the maximum freedom. A score of 100 signifies an economic environment or set of policies that is most conducive to economic freedom.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.