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Economic Freedom of the World

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Chapter 2: Country Data Tables • 59<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) 5.22 (67) 5.47 (105) 5.22 (132) 5.55 (140) 5.13 (151) 5.12 (152)<br />

Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data)<br />

Area 1. Size <strong>of</strong> Government 6.19 6.45 7.87 8.13 5.96 6.06<br />

A. Government consumption 4.12 (26.00) 8.66 (10.54) 9.44 (7.90) 9.71 (7.00) 8.46 (11.24) 8.91 (9.70) 9.31 (8.35)<br />

B. Transfers and subsidies 9.89 (0.90) 9.92 (0.80) 9.92 (0.80) 9.92 (0.80) 9.92 (0.80) 9.92 (0.80)<br />

C. Government enterprises and investment 0.00 (94.00) 0.00 (50.00) 4.00 (36.80) 6.00 (29.40) 4.00 (37.10) 4.00 (32.29)<br />

D. Top marginal tax rate 1.00 1.00<br />

(i) Top marginal income tax rate 1.00 (60) 1.00 (60)<br />

(ii) Top marginal income and payroll tax rate 1.00 (60) 1.00 (60)<br />

Area 2. Legal System and Property Rights 4.67 4.42 4.25 2.19 3.08 2.81 3.19<br />

A. Judicial independence 1.28 2.67 1.97 2.27<br />

B. Impartial courts 4.04 1.97 3.18 2.05 2.86<br />

C. Protection <strong>of</strong> property rights 2.66 2.61 2.52 3.22<br />

D. Military interference in rule <strong>of</strong> law and politics 4.70 2.80 2.20 3.40 3.58<br />

E. Integrity <strong>of</strong> <strong>the</strong> legal system 4.00<br />

F. Legal enforcement <strong>of</strong> contracts 0.30 2.22 2.22 2.22<br />

G. Regulatory costs <strong>of</strong> <strong>the</strong> sale <strong>of</strong> real property 4.17 4.17 4.17 4.99<br />

H. Reliability <strong>of</strong> police 2.22 2.74 2.75 2.75<br />

I. Business costs <strong>of</strong> crime 2.15 4.83 3.37 3.64<br />

Area 3. Sound Money 6.61 5.68 6.64 6.03 6.30 6.15 6.44<br />

A. Money growth 8.40 (7.98) 8.81 (-5.93) 9.67 (-1.66) 9.52 (2.40) 9.44 (2.82) 8.16 (9.21) 8.15 (9.26)<br />

B. Standard deviation <strong>of</strong> inflation 9.76 (0.59) 6.19 (9.53) 7.65 (5.87) 6.17 (9.56) 6.17 (9.58) 6.48 (8.81) 7.94 (5.15)<br />

C. Inflation: most recent year 8.25 (8.73) 7.72 (11.41) 9.24 (3.82) 8.42 (7.89) 9.58 (-2.08) 9.97 (0.15) 9.66 (1.68)<br />

D. <strong>Freedom</strong> to own foreign currency bank accounts 0.00 0.00 0.00 0.00 0.00 0.00 0.00<br />

Area 4. <strong>Freedom</strong> to Trade Internationally 5.53 5.41 4.96 5.03 5.05 5.23<br />

A. Tariffs 7.40 6.24 6.44 6.31 6.29 6.29<br />

(i) Revenue from trade taxes (% <strong>of</strong> trade sector) 7.40 (3.90)<br />

(ii) Mean tariff rate 6.56 (17.20) 6.42 (17.90) 6.40 (18.00) 6.40 (18.00)<br />

(iii) Standard deviation <strong>of</strong> tariff rates 5.64 (10.90) 6.33 (9.18) 6.21 (9.49) 6.18 (9.54) 6.18 (9.54)<br />

B. Regulatory trade barriers 1.82 2.05 1.81 2.46<br />

(i) Non-tariff trade barriers 3.64 4.09 3.62 3.99<br />

(ii) Compliance cost <strong>of</strong> importing and exporting 0.00 0.00 0.00 0.93<br />

C. Black-market exchange rates 9.60 9.20 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 0.00 0.00 0.00 1.57 1.77 2.10 2.16<br />

(i) Foreign ownership/investment restrictions 4.70 3.76 3.69 3.84<br />

(ii) Capital controls 0.00 0.00 0.00 0.00 1.54 1.54 1.54<br />

(iii) <strong>Freedom</strong> <strong>of</strong> foreigners to visit 0.00 0.00 1.09 1.09<br />

Area 5. Regulation 4.27 4.62 5.03 5.21 5.68 4.69<br />

A. Credit Market regulations 2.00 4.76 4.68 5.68 6.03 6.56 3.67<br />

(i) Ownership <strong>of</strong> banks 2.00 0.00 0.00 2.00 2.00 2.00 2.00<br />

(ii) Private sector credit 6.29 6.04 6.03 7.10 8.68 0.00<br />

(iii) Interest rate controls (negative real interest rates) 8.00 8.00 9.00 9.00 9.00 9.00<br />

B. Labor Market regulations 5.95 5.99 5.94 5.82<br />

(i) Hiring regulations and minimum wage 6.10 5.00 6.10 6.10<br />

(ii) Hiring and firing regulations 4.26 5.23 3.87 4.72<br />

(iii) Centralized collective bargaining 7.70 6.78 6.75 7.14<br />

(iv) Hours regulations 8.00 8.00 8.00 6.00<br />

(v) Mandated cost <strong>of</strong> worker dismissal 6.66 7.94 7.94 7.95<br />

(vi) Conscription 10.00 0.00 3.00 3.00 3.00 3.00 3.00<br />

C. Business regulations 3.47 3.61 4.55 4.57<br />

(i) Administrative requirements 2.35 2.70 3.15 3.40<br />

(ii) Bureaucracy costs 3.13 6.97 6.97 6.97<br />

(iii) Starting a business 3.87 4.57 5.68 5.84<br />

(iv) Extra payments/bribes/favoritism 3.69 2.24 2.17 2.12<br />

(v) Licensing restrictions 5.97 3.41 7.53 7.30<br />

(vi) Cost <strong>of</strong> tax compliance 1.79 1.79 1.79 1.79<br />

www.free<strong>the</strong>world.com • www.fraserinstitute.org • Fraser Institute ©2016

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