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ARMENIA AHEAD OF AZERBAIJAN, TURKEY IN ECONOMIC FREEDOM RANKING
PanARMENIAN.Net
September 23, 2010
In the wake of the global recession, the average level of economic
freedom around the world dropped for the first time in decades,
according to a new study released by the Fraser Institute, Canada's
leading public policy think-tank.
Canada wasn't spared from the decline, although its score changed only
slightly, dropping to 7.95 from 8.0, still good enough to retain its
seventh place ranking overall, according to the Economic Freedom of
the World: 2010 Annual Report.
This year's report shows that economic freedom experienced its first
global downturn in a quarter century, with the average score falling
to 6.67 in 2008 (the most recent year for which data is available)
from 6.74 in 2007. Of the 123 countries with economic freedom rankings
dating back to 1980, 88 (71.5 per cent) saw their rankings decrease
while only 35 (28.5 per cent) recorded increases.
Armenia is 50th; Georgia is 23rd, jumping up 20 places since last
year. Turkey and Azerbaijan rank 74th and 93rd respectively.
According to the study, Armenia pursues a correct money-and-credit
policy, the problem in the country remaining a biased court system
and extra business expenditures, mostly bribes.
Hong Kong maintains the highest level of economic freedom worldwide,
with a score of 9.05 out of 10. The other top scorers are Singapore
(8.70), New Zealand (8.27), Switzerland (8.08), Chile (8.03), the
United States (7.96), Canada (7.95), Australia (7.90), Mauritius
(7.82), and the United Kingdom (7.81).
The rankings and scores of other large economies include Taiwan,
22nd (7.48); Germany, tied with Japan and Kuwait in 24th (7.46);
France, 35th (7.32); South Korea, tied with Sweden in 37th (7.28);
Spain, tied with Iceland and Honduras in 39th (7.26); Italy, tied
with Montenegro and Poland in 66th (6.90); Mexico, 69th (6.89);
China, tied with South Africa in 82nd (6.65); Russia, 84th (6.62);
India, tied with Croatia and Moldova in 87th (6.51); Brazil, tied
with Madagascar in 102nd (6.18); and Argentina, 114th (5.59).
Zimbabwe maintains the lowest level of economic freedom among the 141
jurisdictions analyzed. Myanmar, Angola, and Venezuela round out the
bottom four nations.
Several countries have substantially lifted their scores and improved
their relative levels of economic freedom over the past three decades.
Ghana saw the biggest increase in this year's report, climbing to
a score of 7.17 from 3.27 in 1980, followed by Uganda, which rose
to 7.15 from 3.42; Peru, which jumped to 7.36 from 4.27; Israel,
which increased to 6.86 from 3.79; and Turkey, which climbed to 6.91
from 3.95.
Over the same period, economic freedom has steadily regressed in many
other countries. Venezuela fell to 4.35 in 2008 from a score of 6.29
in 1980, while Zimbabwe dropped to 3.57 from 4.93, Myanmar to 3.49
from 4.84, Malaysia to 6.71 from 7.07, and Nepal to 5.44 from 5.75.
From: A. Papazian
PanARMENIAN.Net
September 23, 2010
In the wake of the global recession, the average level of economic
freedom around the world dropped for the first time in decades,
according to a new study released by the Fraser Institute, Canada's
leading public policy think-tank.
Canada wasn't spared from the decline, although its score changed only
slightly, dropping to 7.95 from 8.0, still good enough to retain its
seventh place ranking overall, according to the Economic Freedom of
the World: 2010 Annual Report.
This year's report shows that economic freedom experienced its first
global downturn in a quarter century, with the average score falling
to 6.67 in 2008 (the most recent year for which data is available)
from 6.74 in 2007. Of the 123 countries with economic freedom rankings
dating back to 1980, 88 (71.5 per cent) saw their rankings decrease
while only 35 (28.5 per cent) recorded increases.
Armenia is 50th; Georgia is 23rd, jumping up 20 places since last
year. Turkey and Azerbaijan rank 74th and 93rd respectively.
According to the study, Armenia pursues a correct money-and-credit
policy, the problem in the country remaining a biased court system
and extra business expenditures, mostly bribes.
Hong Kong maintains the highest level of economic freedom worldwide,
with a score of 9.05 out of 10. The other top scorers are Singapore
(8.70), New Zealand (8.27), Switzerland (8.08), Chile (8.03), the
United States (7.96), Canada (7.95), Australia (7.90), Mauritius
(7.82), and the United Kingdom (7.81).
The rankings and scores of other large economies include Taiwan,
22nd (7.48); Germany, tied with Japan and Kuwait in 24th (7.46);
France, 35th (7.32); South Korea, tied with Sweden in 37th (7.28);
Spain, tied with Iceland and Honduras in 39th (7.26); Italy, tied
with Montenegro and Poland in 66th (6.90); Mexico, 69th (6.89);
China, tied with South Africa in 82nd (6.65); Russia, 84th (6.62);
India, tied with Croatia and Moldova in 87th (6.51); Brazil, tied
with Madagascar in 102nd (6.18); and Argentina, 114th (5.59).
Zimbabwe maintains the lowest level of economic freedom among the 141
jurisdictions analyzed. Myanmar, Angola, and Venezuela round out the
bottom four nations.
Several countries have substantially lifted their scores and improved
their relative levels of economic freedom over the past three decades.
Ghana saw the biggest increase in this year's report, climbing to
a score of 7.17 from 3.27 in 1980, followed by Uganda, which rose
to 7.15 from 3.42; Peru, which jumped to 7.36 from 4.27; Israel,
which increased to 6.86 from 3.79; and Turkey, which climbed to 6.91
from 3.95.
Over the same period, economic freedom has steadily regressed in many
other countries. Venezuela fell to 4.35 in 2008 from a score of 6.29
in 1980, while Zimbabwe dropped to 3.57 from 4.93, Myanmar to 3.49
from 4.84, Malaysia to 6.71 from 7.07, and Nepal to 5.44 from 5.75.
From: A. Papazian