Algeria was ranked as one of the five bottom nations in terms of economic freedom by the Economic Freedom of the World Annual Report 2003. Released by Canada’s Fraser Institute, the report provides a roadmap for building prosperous and democratic nations, according to Nobel Laureates who helped construct the report.
The other bottom nations are Guinea-Bissau, Zimbabwe, the Democratic Republic of the Congo and Myanmar. Hong Kong retains the highest economic freedom rating, followed by Singapore, the United States, New Zealand, and the United Kingdom.
The key ingredients of economic freedom are personal choice, voluntary exchange, freedom to compete, and the protection of person and property. Using 38 variables for each country, the report measures the institutions essential to ensuring the rule of law, property rights, freedom to trade, sensible regulation, and reasonably sized government.
© 2003 Mena Report (www.menareport.com)
