Thursday, January 16, 2014

16/1/2014: 2014 Index of Economic Freedom: Ireland Up 2 Rankings

Heritage Institute's 2014 Index of Economic Freedom was out on Tuesday and here are some details of Ireland's performance:

1) We are ranked number 9 in the world, up from 11th in 2013. Which is good news. We are second best in Europe and 1st in the EU28.

2) We posted a small improvement in our score (+0.5 to 76.2), the first time we recorded an improvement in the score since 2010.

So key improvements are on Government spending and fiscal performance (say thanks to the Troika?), improved labour markets score (say thanks to the Troika?) and improved trade freedom.

More on these:

The above, in effect, highlights the shortcomings of the Heritage Index (as compared to as Heritage inputs into analysis can be relatively narrow and excessively qualitative in some areas.

Note, on property rights, the Heritage seemingly ignores the issues related to expropriation of pension funds that continued in 2013.

3) Comparative:

You can visualise more comparatives here:

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