Index Of Economic Freedom 2013: Economic Freedom, Mauritius Global Rank Eighth

8 years ago - August 27, 2013
With a total score of 76.9, Mauritius, according to the Index of Economic Freedom by the Heritage Foundation and the Wall Street Journal, the eighth most open economy in the world and the first of 46 countries in sub-Saharan Africa on total of 177 countries.

This index, however, is disputed by several experts on the basis, inter alia, that economic freedom does not necessarily lead to greater economic growth.The report of the Index of Economic Freedom 2013 (see box), recently made public, indicates that the score of Mauritius is this year, "essentially the same as last year." This index is compiled from statistics of the Heritage Foundation and the Wall Street Journal. With Canada, Switzerland, Bahrain, Chile and Hong Kong, Mauritius, according to this index, a "Regional Leader."

Mauritius, according to the Index of Economic Freedom, rose under the criterion of "the protection of private property" and that "the liberalization of labor." But this was offset by a decline in the areas of "the fight against corruption" and "monetary stability."The report welcomes the fact that Mauritius is the most liberal economy among the 46 countries in sub-Saharan Africa and maintains its position among the top 10 in the world, occupying the eighth place at international level. "Mauritius continues to be a world leader in economic openness and all the pillars of economic freedom are firmly rooted," says the report.

According to the Index of Economic Freedom 2013, the island economy of Mauritius has a great "sound and transparent legal framework that promotes the rule of law." In addition, the report continues, fiscal reforms were maintained, keeping public debt and budget deficits under control, despite "an expansionary fiscal policy since 2008."The Index of Economic Freedom 2013 also notes with a stable business climate, Mauritius maintains a dynamic entrepreneurial culture. "The barriers against free trade are low and business operations are supported by regulations that help free market policies," says the report. In addition, he continues, inflationary pressures are under control and foreign investment are welcome.

Analyzing the score Mauritius, Index of Economic Freedom gives the score and rank of Mauritius in the ten general criteria of economic freedom based on the statistics of the World Bank, the IMF and the Economist Intelligence Unit ( company belonging to the same group as The Economist) - (see box). It is pertinent to note that the Index of Economic Freedom, however, is disputed by many experts worldwide on the basis, inter alia, that economic liberalization does not necessarily lead to greater economic growth.


Measure economic freedom
The Index of Economic Freedom is an indicator based on a set of ten economic criteria (see above), created by the Heritage Foundation and the Wall Street Journal. Its objective is to measure economic freedom in countries throughout the world.The index was created in 1995, inspired by Adam Smith, The Wealth of Nations approach, namely that "the existence of basic institutions that protect the freedom of individuals to pursue their own economic interests ensures prosperity more important throughout the whole society. "
The index ranks nations on ten general criteria of economic freedom based on the statistics of the World Bank, the IMF and the Economist Intelligence Unit (company belonging to the same group as The Economist).

Text by Le Mauricien

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