Economic Freedom of the World
economic-freedom-of-the-world-2016
economic-freedom-of-the-world-2016
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Bhutan<br />
Chapter 2: Country Data Tables • 45<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) 7.04 (75) 7.07 (75)<br />
Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data)<br />
Area 1. Size <strong>of</strong> Government 7.47 7.58<br />
A. Government consumption 2.94 (30.00) 5.04 (22.86) 3.92 (26.68)<br />
B. Transfers and subsidies 9.83 (1.11) 9.90 (0.87)<br />
C. Government enterprises and investment 6.00 (27.30) 8.00 (17.70)<br />
D. Top marginal tax rate 9.00 8.50<br />
(i) Top marginal income tax rate 9.00 (25) 9.00 (25)<br />
(ii) Top marginal income and payroll tax rate 9.00 (25) 8.00 (26)<br />
Area 2. Legal System and Property Rights 6.63 6.58<br />
A. Judicial independence 6.35 6.45<br />
B. Impartial courts 4.40 5.42<br />
C. Protection <strong>of</strong> property rights 5.62 5.91<br />
D. Military interference in rule <strong>of</strong> law and politics 8.40 8.96<br />
E. Integrity <strong>of</strong> <strong>the</strong> legal system<br />
F. Legal enforcement <strong>of</strong> contracts 7.37 7.37<br />
G. Regulatory costs <strong>of</strong> <strong>the</strong> sale <strong>of</strong> real property 6.62 3.89<br />
H. Reliability <strong>of</strong> police 6.56 6.56<br />
I. Business costs <strong>of</strong> crime 7.70 8.06<br />
Area 3. Sound Money 6.88 6.86<br />
A. Money growth 9.67 (1.63) 9.69 (1.55)<br />
B. Standard deviation <strong>of</strong> inflation 9.25 (1.89) 9.40 (1.50)<br />
C. Inflation: most recent year 8.60 (7.01) 8.36 (8.21)<br />
D. <strong>Freedom</strong> to own foreign currency bank accounts 0.00 0.00<br />
Area 4. <strong>Freedom</strong> to Trade Internationally 6.55 6.62<br />
A. Tariffs 9.82 9.81<br />
(i) Revenue from trade taxes (% <strong>of</strong> trade sector) 9.82 (0.27) 9.81 (0.28)<br />
(ii) Mean tariff rate<br />
(iii) Standard deviation <strong>of</strong> tariff rates<br />
B. Regulatory trade barriers 4.96 5.24<br />
(i) Non-tariff trade barriers 5.25 5.25<br />
(ii) Compliance cost <strong>of</strong> importing and exporting 4.67 5.24<br />
C. Black-market exchange rates 10.00 10.00<br />
D. Controls <strong>of</strong> <strong>the</strong> movement <strong>of</strong> capital and people 1.42 1.42<br />
(i) Foreign ownership/investment restrictions 4.02 4.02<br />
(ii) Capital controls 0.00 0.00<br />
(iii) <strong>Freedom</strong> <strong>of</strong> foreigners to visit 0.25 0.25<br />
Area 5. Regulation 7.65 7.71<br />
A. Credit Market regulations 7.25 7.43<br />
(i) Ownership <strong>of</strong> banks 5.00 5.00<br />
(ii) Private sector credit 10.00 8.74 8.28<br />
(iii) Interest rate controls (negative real interest rates) 8.00 9.00<br />
B. Labor Market regulations 8.64 8.64<br />
(i) Hiring regulations and minimum wage 10.00 10.00<br />
(ii) Hiring and firing regulations 4.89 4.89<br />
(iii) Centralized collective bargaining 6.94 6.94<br />
(iv) Hours regulations 10.00 10.00<br />
(v) Mandated cost <strong>of</strong> worker dismissal 10.00 10.00<br />
(vi) Conscription 10.00 10.00<br />
C. Business regulations 7.07 7.07<br />
(i) Administrative requirements 4.44 4.39<br />
(ii) Bureaucracy costs<br />
(iii) Starting a business 9.41 9.12<br />
(iv) Extra payments/bribes/favoritism 6.08 5.38<br />
(v) Licensing restrictions 8.47 9.48<br />
(vi) Cost <strong>of</strong> tax compliance 6.93 6.97<br />
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