The 2007 Index of Economic Freedom measures and ranks 161 countries across 10 specific freedoms, things like tax rates and property rights.

The 2007 methodology has been revised to provide an even clearer picture of economic freedom by using data-driven equations rather than performance brackets which allows countries to be graded using a percent score rather than a 1.5 rating. In addition, labor freedom has been added as a variable. We continue the tradition of blending “Ten Freedoms” equally to produce a simple, unbiased overall score for each country.

The new methodology (probably) helped US to climb back in the Top 10 after 2 years of absence.

The 10th criteria the top is based on are:

• Business Freedom
• Trade Freedom
• FiscalFreedom
• Freedom from Gov’t
• Monetary Freedom
• Investment Freedom
• Financial Freedom
• Property Rights
• Freedom from Corruption
• Labour Freedom

Romania managed to get to the 67th place in the Heritage Foundation’s Index of Economic Freedom, climbing from 125th position in 2005 and 92nd in 2006.

Out of these Romania scored below world average on Monetary Freedom, Property Rights and Freedom from Corruption.

Here is the top 10:

1. Hong Kong
2. Singapore
3. Australia
4. USA
5. New Zealand
6. UK
7. Ireland
8. Luxembourg
9. Switzerland
10. Canada

Read more about it here.

Related posts

2006 Index of Economic Freedom
2005 Index of Economic Freedom