Economic Freedom of the World
economic-freedom-of-the-world-2016
economic-freedom-of-the-world-2016
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172 • <strong>Economic</strong> <strong>Freedom</strong> <strong>of</strong> <strong>the</strong> <strong>World</strong>: 2016 Annual Report<br />
Thailand<br />
1980 1990 2000 2005 2010 2013 2014<br />
Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank)<br />
Summary Ratings (Rank) 5.86 (31) 6.69 (30) 6.51 (69) 6.72 (76) 6.64 (95) 6.55 (106) 6.56 (106)<br />
Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data)<br />
Area 1. Size <strong>of</strong> Government 6.01 7.36 6.84 7.12 7.14 7.17 7.16<br />
A. Government consumption 7.11 (15.81) 7.57 (14.26) 6.77 (17.00) 6.71 (17.18) 4.91 (23.32) 4.57 (24.47) 4.51 (24.65)<br />
B. Transfers and subsidies 9.95 (0.70) 9.86 (1.00) 9.60 (1.96) 8.79 (4.95) 9.67 (1.70) 9.12 (3.73) 9.12 (3.73)<br />
C. Government enterprises and investment 4.00 (31.90) 8.00 (15.20) 4.00 (37.20) 7.00 (24.70) 7.00 (23.81) 7.00 (20.60) 7.00 (22.31)<br />
D. Top marginal tax rate 3.00 4.00 7.00 6.00 7.00 8.00 8.00<br />
(i) Top marginal income tax rate 3.00 (60) 4.00 (55) 7.00 (37) 6.00 (37) 7.00 (37) 8.00 (35) 8.00 (35)<br />
(ii) Top marginal income and payroll tax rate 4.00 (55) 7.00 (37) 6.00 (37) 7.00 (37) 8.00 (35) 8.00 (35)<br />
Area 2. Legal System and Property Rights 6.52 6.43 5.99 6.28 5.35 4.97 4.99<br />
A. Judicial independence 5.85 5.67 5.34 4.67 5.14<br />
B. Impartial courts 4.68 5.87 4.86 4.25 4.67<br />
C. Protection <strong>of</strong> property rights 4.42 7.11 4.29 5.15 5.17<br />
D. Military interference in rule <strong>of</strong> law and politics 6.67 6.67 5.00 3.33 3.33<br />
E. Integrity <strong>of</strong> <strong>the</strong> legal system 8.33 4.17 4.17 4.17 4.17<br />
F. Legal enforcement <strong>of</strong> contracts 6.11 6.11 6.24 5.96<br />
G. Regulatory costs <strong>of</strong> <strong>the</strong> sale <strong>of</strong> real property 7.89 7.89 7.89 7.87<br />
H. Reliability <strong>of</strong> police 6.27 4.53 3.67 3.67<br />
I. Business costs <strong>of</strong> crime 6.74 5.98 5.35 4.91<br />
Area 3. Sound Money 6.32 7.97 6.61 6.76 7.06 7.05 7.13<br />
A. Money growth 8.96 (5.20) 8.69 (6.56) 8.71 (6.47) 8.53 (7.34) 9.32 (3.40) 9.16 (4.19) 9.48 (2.58)<br />
B. Standard deviation <strong>of</strong> inflation 8.85 (2.87) 9.34 (1.66) 8.06 (4.86) 9.40 (1.49) 9.57 (1.08) 9.49 (1.29) 9.41 (1.47)<br />
C. Inflation: most recent year 7.46 (12.70) 8.85 (5.77) 9.69 (1.57) 9.09 (4.54) 9.34 (3.31) 9.56 (2.18) 9.62 (1.89)<br />
D. <strong>Freedom</strong> to own foreign currency bank accounts 0.00 5.00 0.00 0.00 0.00 0.00 0.00<br />
Area 4. <strong>Freedom</strong> to Trade Internationally 5.16 5.07 7.03 6.43 6.83 6.80 6.77<br />
A. Tariffs 4.47 3.21 6.65 6.84 7.43 6.92 6.89<br />
(i) Revenue from trade taxes (% <strong>of</strong> trade sector) 5.40 (6.90) 6.40 (5.40) 9.06 (1.41) 9.29 (1.06) 9.55 (0.68) 9.57 (0.64) 9.57 (0.64)<br />
(ii) Mean tariff rate 3.54 (32.30) 1.84 (40.80) 9.06 (1.41) 7.88 (10.60) 8.02 (9.90) 7.72 (11.40) 7.68 (11.60)<br />
(iii) Standard deviation <strong>of</strong> tariff rates 1.40 (21.50) 4.28 (14.30) 3.35 (16.64) 4.73 (13.17) 3.48 (16.30) 3.41 (16.47)<br />
B. Regulatory trade barriers 7.20 5.89 6.82 6.97 6.75<br />
(i) Non-tariff trade barriers 5.73 5.00 5.45 5.77 5.66<br />
(ii) Compliance cost <strong>of</strong> importing and exporting 8.66 6.78 8.18 8.18 7.84<br />
C. Black-market exchange rates 9.00 10.00 10.00 10.00 10.00 10.00 10.00<br />
D. Controls <strong>of</strong> <strong>the</strong> movement <strong>of</strong> capital and people 2.00 2.00 4.28 3.00 3.06 3.31 3.44<br />
(i) Foreign ownership/investment restrictions 7.02 6.25 6.43 6.37 6.76<br />
(ii) Capital controls 2.00 2.00 1.54 1.54 1.54 1.54 1.54<br />
(iii) <strong>Freedom</strong> <strong>of</strong> foreigners to visit 1.20 1.22 2.01 2.01<br />
Area 5. Regulation 5.29 6.62 6.07 6.99 6.84 6.77 6.75<br />
A. Credit Market regulations 6.67 8.26 8.06 9.33 9.26 9.31 9.13<br />
(i) Ownership <strong>of</strong> banks 8.00 8.00 5.00 8.00 8.00 8.00 8.00<br />
(ii) Private sector credit 8.02 8.78 9.17 10.00 9.79 9.93 9.38<br />
(iii) Interest rate controls (negative real interest rates) 4.00 8.00 10.00 10.00 10.00 10.00 10.00<br />
B. Labor Market regulations 4.98 4.30 5.43 4.96 4.68 4.82<br />
(i) Hiring regulations and minimum wage 3.94 6.70 6.67 5.57 5.57<br />
(ii) Hiring and firing regulations 7.01 4.60 4.75 5.59 5.70 5.69<br />
(iii) Centralized collective bargaining 7.93 7.93 6.45 6.12 6.14 5.46 6.28<br />
(iv) Hours regulations 6.51 10.00 10.00 10.00 10.00<br />
(v) Mandated cost <strong>of</strong> worker dismissal 4.99 1.37 1.37 1.37<br />
(vi) Conscription 0.00 0.00 0.00 0.00 0.00 0.00 0.00<br />
C. Business regulations 5.86 6.20 6.29 6.33 6.30<br />
(i) Administrative requirements 6.88 4.89 4.28 3.84 3.87<br />
(ii) Bureaucracy costs 3.98 2.17 4.76 4.76 4.76<br />
(iii) Starting a business 7.28 8.88 9.01 9.05 9.05<br />
(iv) Extra payments/bribes/favoritism 5.31 5.85 4.31 4.23 3.86<br />
(v) Licensing restrictions 8.35 8.34 9.08 9.24<br />
(vi) Cost <strong>of</strong> tax compliance 7.04 7.04 7.04 7.04<br />
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