Nicaragua among the world’s most economically free countries

MANAGUA, Nicaragua - Oct. 21, 2014 - PRLog -- Nicaragua’s economy is among the freest of the world according to the recently released Economic Freedom of the World (EFW) report, published by the Fraser Institute. In the 2014 report, the country is ranked in the 36th position out of a total of 152, with a score of 7.44 out of 10.

This annual report measures the economic freedom (levels of personal choice, ability to enter markets, security of privately owned property, rule of law, etc.) by analyzing the policies and institutions of over 150 countries and Hong Kong. According to fact-based research in top peer-reviewed journals, people living in countries with high levels of economic freedom enjoy greater prosperity, more political and civil liberties, and longer life spans.

According to the report, based on 2012 statistics (the most recent year of available data), the top economically free jurisdictions are Hong Kong (which continues its streak of number one rankings), Singapore, New Zealand, Switzerland and Mauritius. In the Latin American region, the top free economies are Chile, Peru, Costa Rica, Nicaragua and Uruguay.

“The link between economic freedom and prosperity is undeniable. The most economically free countries offer the highest quality of life and personal freedoms while the lowest-ranked countries, are usually burdened by oppressive regimes that limit the freedom and opportunity of their citizens,” said Fred McMahon of the Fraser Institute.

The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to enter markets and compete, and security of the person and privately owned property. Forty-two data points are used to construct a summary index and to measure the degree of economic freedom in five broad areas: Size of Government (expenditures, taxes and enterprises); Legal Structure and Security of Property Rights; Access to Sound Money; Freedom to Trade Internationally; and Regulation of Credit, Labor and Business.

The Fraser Institute produces the annual Economic Freedom of the World report in cooperation with the Economic Freedom Network, a group of independent research and educational institutes in nearly 90 nations and territories. It’s the world’s premier measurement of economic freedom.

En español: Nicaragua entre los países más económicamente libres a nivel mundial (http://www.pronicaragua.org/es/sala-de-prensa/notas-de-pr...)