Measuring economic freedom: a comparison of two major sources

Rati Ram

Applied Economics Letters, 2014, vol. 21, issue 12, 852-856

Abstract: Overall country ratings on economic freedom by Fraser Institute and Heritage Foundation, which are probably the two most widely-used sources, are compared. Numerous cases of huge differences between country ranks for the two sets of ratings are noted. A simple illustration shows that inferences based on one set of ratings can be very different from those suggested by the other set. Researchers, policy-makers and other users are urged to exercise caution in drawing strong conclusions on the basis of ratings from either source.

Date: 2014
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DOI: 10.1080/13504851.2014.894620

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