The Canadian Fraser Institute has released new data on the level of economic freedom in countries around the world, according to which Ukraine ranks 103rd, reports the organization's official website.
According to the composite index, which includes government spending, the share of state-owned enterprises, the presence of rule-of-law principles and protection of property rights, inflation, financial policy, freedom of international trade, and regulation of credit, labor, and business, Hong Kong (8.7) is recognized as the leader. It is followed by Singapore (8.5) and New Zealand (8.2). Switzerland, the USA, Great Britain, and Canada rank fourth, fifth, sixth, and seventh, respectively. Russia, according to this index, is in 115th place. Among post-Soviet countries, the most economic freedom is in Estonia – ninth place. And Ukraine is in 103rd place.
As emphasized in the institute's press release, statistics show that countries with a high level of economic freedom enter into conflicts with other states 50 times less often compared to countries with developed democracy. At the same time, membership in political and military alliances, military potential, or regional characteristics do not influence the aggressive behavior of some countries.
The economic freedom index shows the extent to which a country's political system and institutions support this freedom. It is based on freedom of choice and exchange, free competition, and the security of private property.
The index indicator itself consists of assessments of the state of affairs in five spheres on a ten-point scale. The size of government expenditures, the legal system and protection of private property, the availability of hard currency, presence on the international market, and economic management are assessed.
According to data from the previous Fraser Institute study, Ukraine ranked 119th in terms of economic freedom.