publication . Article . 2002

The Economic Freedom Index : A Review

Ruperto P. Alonzo;
Open Access
  • Published: 01 Jan 2002 Journal: Philippine Review of Economics, volume 39, issue 1 June, pages 72-102
The economic freedom index (EFI) is one of several cross-country yardsticks that incorporate dimensions of progress and well-being that go beyond what conventional economic indicators tell us. It is a composite of 21 indicators that include “personal choice, protection of private property, and freedom of exchange.” It is one of the few measures where the Philippines ranks higher than most of its neighbors; the Philippines was in fact 29th among 123 countries rated for 1999, while neighboring Taiwan was only 38th, South Korea 43rd, Thailand 53rd, Malaysia 57th, and Indonesia 72nd. This paper begins with a review of the methodological considerations in index const...
free text keywords: Economic freedom, indicators, index construction, jel:A12, jel:A13, jel:D60
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