2015 Index of Economic Freedom

The Heritage Foundation has released in 2015 Index of Economic Freedom, covering 186 countries. This is the 21st edition of the Index "Launched in 1995, the Index evaluates countries in four broad policy areas that affect economic freedom: rule of law; limited government; regulatory efficiency; and open markets. There are 10 specific categories: property rights, freedom from corruption, fiscal freedom, government spending, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and financial freedom. Scores in these categories are averaged to create an overall score."

 

 

The Heritage Foundation writes that the findings of this year's Index continue to demonstrate a strong link between economic freedom and the various dimensions of human development. "Those countries that have adopted some version of free-market capitalism, with economies supported by efficient regulations and open to the free flow of goods, services, and capital, have participated in an era of globalization and economic integration in which solutions to many of the world's development problems have taken hold and generated real improvements in living standards."

Thailand's economic freedom score is 62.4, and is the 75th freest in the 2015 Index. There have been some improvements made in freedom from corruption, business freedom, labor freedom, monetary reform, fiscal freedom, and trade freedom. Thailand is now ranked 12th out of 42 countries in the Asia-Pacific region.

The government is undertaking a reform of the tax structure, it has introduced new investment incentives, worked to support an increase in cross-border trade, including by addressing labor issues, and is taking action on a wide range of issues to enhance Thailand's economic standing. The country has managed to hold the line during the past years and is setting the stage for a future of growth and economic freedom.

 

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