Economic Freedom of The World 2000

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Although the economic freedom index has been designed as a measurement of economic freedom in its own right, we recognize the interest in how the index correlates with other measures of human well-being. Exhibit 4 shows the relationship be-tween the 1997 Summary Rating and the level of GDP per capita (measured in purchasing power parity US dollars). The countries were grouped into quintile groups for easy comparison. The re-lationship between the economic freedom rating and income is quite striking. Greater economic freedom is strongly related with higher levels of in-come. Exhibit 5 shows the same economic free-dom quintiles with the rate of economic growth in the 1990s. The general pattern repeats itself when looking at economic growth.

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Last Modified: Monday, January 10, 2000