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According to Economic Freedom Network, individuals have economic freedom when “property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give property as long as their actions do not violate the identical rights of others.”
On that basis, freer economies are known to have higher incomes, longer life expectancies, lower infant mortality rates, greater literacy, and more civil and political liberties – factors that directly affect standards of living.
How much economic freedom exists in your country?
The ASEAN Economic Community, planned to come into effect in 2015, is expected to liberalise goods, capital and skilled labour flows in the ASEAN region. While there has been considerable progress in the area of trade integration, financial integration still lags behind. The ASEAN Banking Integration Framework, which aims to liberalise the banking market by 2020, could help pave the way for further integration and the entry of ASEAN banks into regional banking markets. Greater banking integration in ASEAN will benefit the region. Read more
Joseph E. Stiglitz,
Mohamed A. El-Erian,
Isam al Khafaji,
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