2015 Index of Economic FreedomPromoting Economic Opportunity and Prosperity

In partnership with Terry MillerAnthony B. Kim

MILLERKIM

Rank Country Overall Score Rank Country Overall Score Rank Country Overall Score

RANKING THE WORLD BY ECONOMIC FREEDOM

0–49.9 REPRESSED

ECONOMIC FREEDOM SCORE

50–59.9 MOSTLY UNFREE60–69.9 MODERATELY FREE70–79.9 MOSTLY FREE80–100 FREE

1 Hong Kong 89.62 Singapore 89.43 New Zealand 82.14 Australia 81.45 Switzerland 80.56 Canada 79.17 Chile 78.58 Estonia 76.89 Ireland 76.610 Mauritius 76.411 Denmark 76.312 United States 76.213 United Kingdom 75.814 Taiwan 75.115 Lithuania 74.716 Germany 73.817 The Netherlands 73.718 Bahrain 73.419 Finland 73.420 Japan 73.321 Luxembourg 73.222 Georgia 73.023 Sweden 72.724 Czech Republic 72.525 United Arab Emirates 72.426 Iceland 72.027 Norway 71.828 Colombia 71.729 South Korea 71.530 Austria 71.231 Malaysia 70.832 Qatar 70.833 Israel 70.534 Macau 70.335 Saint Lucia 70.236 Botswana 69.837 Latvia 69.738 Jordan 69.339 Brunei 68.940 Belgium 68.841 The Bahamas 68.742 Poland 68.643 Uruguay 68.644 Saint Vincent 68.0 and the Grenadines45 Cyprus 67.946 Barbados 67.947 Peru 67.748 Jamaica 67.749 Spain 67.650 Slovak Republic 67.251 Costa Rica 67.252 Armenia 67.153 Macedonia 67.154 Hungary 66.855 Bulgaria 66.856 Oman 66.757 Romania 66.658 Malta 66.559 Mexico 66.460 Cabo Verde 66.461 Dominica 66.162 El Salvador 65.763 Albania 65.764 Portugal 65.365 Rwanda 64.8

66 Montenegro 64.767 Trinidad and Tobago 64.168 Panama 64.169 Kazakhstan 63.370 Turkey 63.271 Ghana 63.072 South Africa 62.673 France 62.574 Kuwait 62.575 Thailand 62.476 The Philippines 62.277 Saudi Arabia 62.178 Samoa 61.979 Madagascar 61.780 Italy 61.781 Croatia 61.582 Kyrgyz Republic 61.383 Paraguay 61.184 Vanuatu 61.185 Azerbaijan 61.086 Dominican Republic 61.087 Guatemala 60.488 Slovenia 60.389 Morocco 60.190 Serbia 60.091 Swaziland 59.992 Uganda 59.793 Namibia 59.694 Lebanon 59.395 Tonga 59.396 Mongolia 59.297 Bosnia and Herzegovina 59.098 Fiji 59.099 Benin 58.8100 Zambia 58.7101 Sri Lanka 58.6102 Burkina Faso 58.6103 Côte d’Ivoire 58.5104 Gabon 58.3105 Indonesia 58.1106 Senegal 57.8107 Tunisia 57.7108 Nicaragua 57.6109 Tanzania 57.5110 Cambodia 57.5111 Moldova 57.5112 Djibouti 57.5113 The Gambia 57.5114 Seychelles 57.5115 Bhutan 57.4116 Honduras 57.4117 Belize 56.8118 Brazil 56.6119 Mali 56.4120 Nigeria 55.6121 Pakistan 55.6122 Kenya 55.6123 Guyana 55.5124 Egypt 55.2125 Mozambique 54.8126 Malawi 54.8127 Niger 54.6128 India 54.6129 Suriname 54.2130 Greece 54.0131 Bangladesh 53.9

132 Burundi 53.7133 Yemen 53.7134 Maldives 53.4135 Mauritania 53.3136 São Tomé and Príncipe 53.3137 Papua New Guinea 53.1138 Togo 53.0139 China 52.7140 Tajikistan 52.7141 Liberia 52.7142 Comoros 52.1143 Russia 52.1144 Guinea 52.1145 Guinea-Bissau 52.0146 Cameroon 51.9147 Sierra Leone 51.7148 Vietnam 51.7149 Ethiopia 51.5150 Laos 51.4151 Haiti 51.3152 Nepal 51.3153 Belarus 49.8154 Micronesia 49.6155 Lesotho 49.6156 Ecuador 49.2157 Algeria 48.9158 Angola 47.9159 Solomon Islands 47.0160 Uzbekistan 47.0161 Burma 46.9162 Ukraine 46.9163 Bolivia 46.8164 Kiribati 46.4165 Chad 45.9166 Central African Republic 45.9167 Timor-Leste 45.5168 Congo, Dem. Rep. 45.0169 Argentina 44.1170 Congo, Republic of 42.7171 Iran 41.8172 Turkmenistan 41.4173 Equatorial Guinea 40.4174 Eritrea 38.9175 Zimbabwe 37.6176 Venezuela 34.3177 Cuba 29.6178 North Korea 1.3N/A Afghanistan N/AN/A Iraq N/AN/A Kosovo N/AN/A Libya N/AN/A Liechtenstein N/AN/A Somalia N/AN/A Sudan N/AN/A Syria N/A

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56

57

58

59

60

61

1995 2000 2005 2010 2015

MODERATELY FREE

60.460.3

59.659.6

57.1

57.6

59.4

60.2

Average Score in the Index of Economic Freedom

Source: Terry Miller and Anthony B. Kim, 2015 Index of Economic Freedom (Washington, DC: The Heritage Foundation and Dow Jones & Company, Inc., 2015), http://www.heritage.org/index.

Chart 1 heritage.org

Global Economic Freedom

For more than two decades, the Index of Economic Freedom, an annual data-driven, cross-country analysis by The Heritage Foundation in collaboration with The Wall Street Journal, has measured the impact of liberty and the free markets around the globe.

Through analysis of diverse economies ranging from North Korea to Hong Kong, using metrics examining government size, market openness, regulatory efficiency, and the rule of law, the 2015 Index confirms the strong relationship between economic freedom and progress. There is no single formula for overcoming challenges to economic development, but one thing is clear: Around the world, governments that respect and promote economic freedom provide greater opportunities for innovation, progress, and human flourishing.

The 2015 Index—the 21st edition—includes:

• Updated economic freedom and macroeconomic data for 186 economies.

• Easy-to-read cross-country comparisons that highlight why economic freedom matters.

• Three informative chapters that explore topics of particular relevance to today’s policy debates, including the importance of commitment to sound polices that promote greater prosperity, the perils of cronyism, and the critical linkages between economic freedom and energy availability.

• Online tools, like customized comparison charts and an interactive heat map.

9 780891 952879

5 2 4 9 5ISBN 978-0-89195-287-9

USD $24.95

Economic Freedom: Opportunity and Empowerment

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Visit Heritage.org/Index.