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Economic Freedom of The World 2000
Economic Freedom of the World, 1970-1997 Ratings
Exhibit 2 shows the area and summary economic freedom ratings for 1997, sorted from highest to lowest.4 Consistently high-ranking Hong Kong shares the title of freest economy this year with Singapore. Hong Kong has been the top-ranked economy in our study for almost every measure-ment period (except 1980 when it ranked second).
The top five after Hong Kong and Singapore are New Zealand, the United States, and the United Kingdom. Other notable countries (ranks) are: Canada (7), Ireland (6), Chile (18), Japan (14), Sweden (25), South Korea (47), Czech Republic (51), Israel (66), China (75), and Russia (93). Myanmar (formerly Burma) ranks last with a rating of just 2.1
Exhibit 3 shows the summary ratings from 1970 to 1997 as well as the change in summary ratings in the 1990s where data are available. The economic freedom index suggests that economic freedom has been on the increase in almost all countries around the world in the 1990s.
For more information about specific countries please turn to the country report and country data-table sections of this volume. For selected countries, country reports have been written. These reports give a commentary on background information regarding the level of economic freedom in that country and, in some cases, prospects for future changes in economic freedom. The country data-tables contain the underlying component ratings used to calculate the summary ratings for all of the countries.
Appendix 1 shows the ratings for each of the seven areas that combine to form the overall summary ratings for the period from 1970 to 1997. Appendix 2 reports the details of each component’s rating methodology and source. Appendix 3 is a listing of selected publications that have utilized the sum-mary ratings from various editions of Economic Freedom of the World.
Exhibit 2: Economic Freedom Ratings, 1997/1998
Exhibit 3: Summary Economic Freedom Ratings, 1970 to 1997
| 1970 | 1975 | 1980 | 1985 | 1990 | 1995 | 1997 | Change during 1990s | |
|---|---|---|---|---|---|---|---|---|
| Albania | NR | NR | NR | NR | 2.9 | 5.0 | 4.3 | 1.3 |
| Algeria | NR | NR | 4.7 | 4.2 | 2.7 | 3.6 | 4.1 | 1.4 |
| Argentina | 6.6 | 3.2 | 4.8 | 3.8 | 4.9 | 7.9 | 8.4 | 3.5 |
| Australia | 8.1 | 6.9 | 7.4 | 7.8 | 8.1 | 8.6 | 8.6 | 0.5 |
| Austria | 7.2 | 6.2 | 6.8 | 6.9 | 7.6 | 7.8 | 8.0 | 0.3 |
| Bahamas | NR | 6.4 | 6.0 | 6.4 | 6.0 | 6.2 | 6.7 | 0.7 |
| Bahrain | NR | NR | 7.6 | 7.4 | 7.4 | 7.9 | 7.9 | 0.6 |
| Bangladesh | NR | 2.9 | 2.9 | 3.3 | 3.7 | 4.1 | 5.3 | 1.6 |
| Barbados | NR | 5.5 | 5.7 | 6.2 | 6.2 | 6.4 | 6.3 | 0.1 |
| Belgium | 9.3 | 7.8 | 8.0 | 8.1 | 8.1 | 8.2 | 8.3 | 0.3 |
| Belize | NR | NR | 5.5 | 5.1 | 5.3 | 6.1 | 6.3 | 1.0 |
| Benin | NR | 5.1 | 4.9 | 4.8 | 5.7 | 4.7 | 4.9 | -0.8 |
| Bolivia | NR | NR | 4.0 | 4.0 | 6.5 | 7.9 | 8.0 | 1.5 |
| Botswana | NR | 3.9 | 4.7 | 5.6 | 6.0 | 6.8 | 6.6 | 0.7 |
| Brazil | 5.6 | 4.5 | 4.1 | 3.2 | 4.4 | 5.4 | 5.9 | 1.5 |
| Bulgaria | NR | NR | NR | NR | 3.8 | 5.2 | 5.3 | 1.3 |
| Burundi | NR | 3.2 | 3.2 | 4.1 | 3.9 | 3.5 | 4.2 | 0.4 |
| Cameroon | NR | NR | 5.1 | 5.2 | 5.5 | 5.2 | 5.1 | -0.4 |
| Canada | 8.1 | 7.7 | 8.0 | 8.2 | 8.5 | 8.4 | 8.6 | 0.2 |
| Central African Rep. | NR | NR | 5.2 | 4.6 | 4.4 | 4.4 | 4.3 | -0.1 |
| Chad | NR | NR | NR | 5.2 | 5.2 | 5.1 | 4.5 | -0.6 |
| Chile | 3.7 | 3.7 | 5.9 | 6.0 | 7.4 | 8.2 | 8.2 | 0.8 |
| China | NR | NR | 3.5 | 4.4 | 4.2 | 5.6 | 6.2 | 2.0 |
| Columbia | 5.1 | 4.7 | 4.6 | 5.2 | 5.1 | 6.4 | 5.6 | 0.5 |
| Congo, Dem. Rep. | 4.6 | 3.2 | 2.7 | 3.7 | 3.2 | 3.2 | 3.1 | -0.1 |
| Congo, Rep. of | NR | NR | 5.1 | 4.4 | 4.4 | 4.8 | 4.2 | -0.2 |
| Code d'Ivoire | NR | NR | 4.9 | 5.4 | 4.9 | 5.2 | 5.7 | 0.8 |
| Croatia | NR | NR | NR | NR | NR | 4.3 | 4.7 | |
| Cyprus | NR | 6.3 | 5.8 | 5.8 | 5.9 | 6.6 | 6.8 | 0.8 |
| Czech Rep. | NR | NR | NR | NR | 3.9 | 6.8 | 7.1 | 3.3 |
| Denmark | 7.6 | 6.7 | 6.8 | 6.9 | 7.7 | 8.1 | 8.4 | 0.6 |
| Dominican Rep. | NR | 3.9 | 5.3 | 5.2 | 4.1 | 6.3 | 7.0 | 2.9 |
| Ecuador | 3.9 | 5.8 | 6.0 | 4.5 | 5.3 | 6.7 | 7.0 | 1.7 |
| Egypt | NR | 4.2 | 4.1 | 4.6 | 4.3 | 6.0 | 6.6 | 2.3 |
| El Salvador | NR | NR | 3.7 | 4.3 | 5.0 | 8.0 | 8.3 | 3.3 |
| Estonia | NR | NR | NR | NR | NR | 6.1 | 6.8 | |
| Fiji | NR | 5.0 | 5.3 | 5.4 | 5.7 | 6.1 | 6.1 | 0.4 |
| Finland | 8.1 | 6.7 | 7.1 | 7.4 | 7.7 | 8.1 | 8.2 | 0.5 |
| France | 7.3 | 6.3 | 6.3 | 6.4 | 7.8 | 8.1 | 8.0 | 0.2 |
| Gabon | NR | NR | 3.8 | 5.2 | 5.2 | 5.7 | 5.1 | -0.1 |
| Germand | 8.2 | 7.7 | 7.8 | 7.9 | 8.3 | 8.2 | 8.1 | -0.1 |
| Ghana | 3.3 | 2.5 | 2.1 | 2.6 | 4.8 | 6.1 | 6.4 | 1.5 |
| Greece | 6.3 | 5.8 | 5.7 | 5.2 | 6.1 | 6.8 | 7.4 | 1.3 |
| Guatamala | 6.4 | 7.3 | 6.5 | 5.6 | 6.5 | 7.7 | 7.4 | 0.9 |
| Guinea-Bissau | NR | NR | NR | NR | 3.8 | 4.1 | 4.0 | 0.2 |
| Guyana | NR | NR | NR | 4.1 | NR | 5.9 | 6.2 | |
| Haiti | NR | NR | 5.4 | 5.7 | 4.7 | 4.6 | 6.2 | 1.5 |
| Honduras | NR | 8.1 | 5.5 | 5.5 | 6.2 | 6.9 | 7.0 | 0.8 |
| Hong Kong | 9.4 | 9.3 | 9.6 | 9.3 | 9.3 | 9.8 | 9.4 | 0.1 |
| Hungary | NR | NR | 4.8 | 4.8 | 4.9 | 6.8 | 7.4 | 2.5 |
| Iceland | 6.4 | 4.4 | 5.5 | 5.7 | 7.5 | 8.1 | 8.0 | 0.6 |
| India | 4.0 | 3.6 | 4.3 | 4.1 | 4.1 | 5.0 | 5.8 | 1.8 |
| Indonesia | 4.8 | 5.0 | 5.2 | 5.9 | 6.8 | 7.3 | 7.2 | 0.4 |
| Iran | 6.2 | 6.2 | 3.4 | 3.4 | 4.3 | 3.9 | 5.0 | 0.8 |
| Ireland | 6.8 | 6.2 | 6.6 | 6.7 | 7.3 | 8.6 | 8.7 | 1.4 |
| Israel | 4.8 | 4.4 | 4.0 | 4.4 | 4.8 | 6.3 | 6.5 | 1.7 |
| Italy | 6.8 | 5.5 | 5.5 | 6.0 | 7.4 | 7.5 | 7.9 | 0.5 |
| Jamaica | NR | 5.0 | 4.1 | 5.1 | 5.7 | 7.3 | 7.4 | 1.7 |
| Japan | 7.3 | 7.0 | 7.4 | 7.7 | 8.3 | 8.2 | 8.3 | 0.0 |
| Jordan | NR | 5.6 | 5.6 | 6.1 | 4.9 | 6.1 | 6.1 | 1.2 |
| Kenya | 5.0 | 4.8 | 4.8 | 5.1 | 5.1 | 6.2 | 6.8 | 1.7 |
| Kuwait | NR | NR | 5.1 | 7.1 | 5.8 | 7.1 | 7.5 | 1.7 |
| Latvia | NR | NR | NR | NR | NR | 5.7 | 6.7 | |
| Lithuania | NR | NR | NR | NR | NR | 5.7 | 6.6 | |
| Luxembourg | 9.1 | 8.8 | 9.0 | 9.4 | 8.3 | 8.4 | 8.5 | 0.2 |
| Madagascar | 5.6 | 4.1 | 4.1 | 4.4 | 3.8 | 3.9 | 3.9 | 0.0 |
| Malawi | NR | 5.0 | 3.9 | 4.4 | 4.7 | 4.1 | 4.6 | -0.1 |
| Malaysia | 6.5 | 6.4 | 7.1 | 7.3 | 7.7 | 7.6 | 7.5 | -0.2 |
| Mali | NR | 4.8 | 5.3 | 5.3 | 5.0 | 5.1 | 4.7 | -0.2 |
| Malta | 6.2 | 5.6 | 5.2 | 5.1 | 5.2 | 6.5 | 6.3 | 1.1 |
| Mauritius | NR | 4.6 | 4.7 | 6.4 | 6.0 | 7.9 | 7.6 | 1.6 |
| Mexico | 7.0 | 5.7 | 4.9 | 4.5 | 6.4 | 7.4 | 7.7 | 1.3 |
| Morocco | 5.5 | 4.9 | 4.0 | 4.8 | 4.6 | 5.9 | 6.0 | 1.4 |
| Myanmar | NR | NR | 2.4 | 2.1 | 1.3 | 1.6 | 2.1 | 0.9 |
| Namibia | NR | NR | NR | NR | 5.2 | 5.3 | 6.4 | 1.2 |
| Nepal | NR | NR | 5.4 | 5.4 | 4.9 | 5.2 | 5.3 | 0.4 |
| Netherlands | 8.6 | 7.4 | 7.8 | 7.8 | 8.1 | 8.4 | 8.5 | 0.5 |
| New Zealand | 7.0 | 6.0 | 6.4 | 6.2 | 8.1 | 9.1 | 9.1 | 1.0 |
| Nicaragua | NR | 7.6 | 3.7 | 2.0 | 2.9 | 5.7 | 6.9 | 4.1 |
| Niger | NR | 5.5 | 5.1 | 5.0 | 4.4 | 4.6 | 4.8 | 0.4 |
| Nigeria | 4.0 | 3.8 | 3.1 | 3.6 | 3.6 | 3.4 | 4.7 | 1.0 |
| Norway | 7.0 | 6.1 | 6.2 | 6.8 | 7.7 | 8.1 | 8.1 | 0.4 |
| Oman | NR | NR | 6.6 | 7.5 | 6.8 | 7.7 | 7.6 | 0.8 |
| Pakistan | 3.6 | 2.9 | 3.5 | 4.2 | 4.4 | 5.6 | 5.6 | 1.2 |
| Panama | NR | 7.7 | 6.7 | 7.0 | 6.9 | 8.1 | 8.3 | 1.5 |
| Papua New Guinea | NR | 4.6 | 6.9 | 6.3 | 6.0 | 5.9 | 5.6 | -0.4 |
| Paraguay | NR | NR | 6.2 | 6.0 | 6.3 | 7.8 | 7.6 | 1.3 |
| Peru | 4.7 | 3.5 | 3.4 | 2.3 | 3.7 | 7.5 | 7.9 | 4.2 |
| Philippines | 5.1 | 4.9 | 5.1 | 4.9 | 5.6 | 7.7 | 7.9 | 2.3 |
| Poland | NR | NR | NR | 3.5 | 4.0 | 6.4 | 6.0 | 1.9 |
| Portugal | 5.6 | 3.4 | 5.6 | 5.7 | 6.4 | 7.8 | 8.0 | 1.7 |
| Romania | NR | NR | NR | 3.5 | 4.2 | 4.5 | 4.6 | 0.5 |
| Russia | NR | 1.8 | 1.8 | 1.8 | 1.7 | 5.0 | 5.4 | 3.7 |
| Rwanda | NR | 2.1 | 3.7 | NR | 3.9 | 3.9 | 3.7 | -0.1 |
| Senegal | NR | NR | 5.0 | 4.9 | 5.0 | 4.2 | 4.7 | -0.3 |
| Sierra Leone | NR | 3.9 | 4.1 | 3.0 | 2.9 | 3.7 | 3.2 | -0.3 |
| Singapore | 7.7 | 7.6 | 8.0 | 8.4 | 9.1 | 9.4 | 9.4 | 0.3 |
| Slovakia | NR | NR | NR | NR | 3.9 | 6.2 | 6.1 | 2.2 |
| Slovenia | NR | NR | NR | NR | NR | 5.6 | 6.3 | |
| Somalia | NR | NR | NR | 3.3 | NR | NR | NR | |
| South Africa | 7.6 | 6.2 | 6.0 | 5.6 | 5.9 | 6.6 | 7.3 | 1.5 |
| South Korea | 6.3 | 5.6 | 5.7 | 6.0 | 6.6 | 7.7 | 7.3 | 0.7 |
| Spain | 6.5 | 5.9 | 6.2 | 6.3 | 7.0 | 7.9 | 8.2 | 1.3 |
| Sri Lanka | NR | NR | 4.2 | 4.8 | 4.5 | 6.3 | 6.5 | 2.0 |
| Sweden | 6.2 | 6.2 | 6.3 | 7.0 | 7.5 | 7.9 | 8.0 | 0.4 |
| Switzerland | 8.9 | 8.0 | 8.4 | 8.7 | 8.6 | 8.5 | 8.5 | -0.1 |
| Syria | 4.3 | 5.4 | 3.5 | 2.9 | 2.8 | 3.9 | 4.4 | 1.6 |
| Taiwan | 6.6 | 6.1 | 6.8 | 7.1 | 7.6 | 7.8 | 7.1 | -0.5 |
| Tanzania | 4.3 | 3.2 | 4.1 | 3.0 | 3.5 | 5.0 | 5.6 | 2.0 |
| Thailand | 6.4 | 5.6 | 5.8 | 6.1 | 6.8 | 7.6 | 8.2 | 1.4 |
| Togo | NR | NR | 4.4 | 5.9 | 4.9 | 4.7 | 4.6 | -0.3 |
| Trinidad & Tobago | NR | 4.7 | 5.0 | 4.8 | 5.4 | 7.2 | 7.5 | 2.1 |
| Tunisia | 4.3 | 4.5 | 4.4 | 4.1 | 5.0 | 6.1 | 6.3 | 1.3 |
| Turkey | 3.0 | 3.3 | 3.3 | 4.5 | 5.1 | 6.3 | 6.6 | 1.3 |
| Uganda | NR | NR | 2.8 | 2.7 | 2.7 | 4.6 | 6.1 | 3.5 |
| Ukraine | NR | NR | NR | NR | NR | 3.1 | 4.5 | |
| United Arab Emriates | NR | NR | 6.1 | 6.9 | 7.6 | NR | 7.2 | -0.5 |
| United Kingdom | 6.6 | 5.9 | 6.8 | 8.2 | 8.6 | 8.8 | 8.9 | 0.3 |
| United States | 8.0 | 8.1 | 8.5 | 8.6 | 8.8 | 8.9 | 9.0 | 0.1 |
| Uruguay | NR | 6.5 | 6.3 | 6.8 | 6.9 | 7.2 | 7.4 | 0.6 |
| Venezuala | 7.8 | 6.5 | 6.9 | 5.8 | 5.8 | 4.5 | 6.0 | 0.2 |
| Zambia | NR | 4.3 | 4.7 | 3.1 | 2.5 | 4.5 | 5.5 | 2.9 |
| Zimbabwe | NR | NR | 4.1 | 4.0 | 4.5 | 5.4 | 5.0 | 0.4 |
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| Last Modified: Monday, January 10, 2000 |