News & Benchmarks

17.02.2017

Index of Economic Freedom: Luxembourg increases its score

The American 'Heritage Foundation', in partnership with The Wall Street Journal, has published the 23rd edition of the 'Index of Economic Freedom'. Luxembourg comes in 14th place in this ranking which compares the degree of economic freedom in 180 countries.

Economic freedom is defined as the absence of any kind of coercion or constraint on the part of the government regarding the production, distribution and consumption of goods and services beyond the minimum necessary to protect and maintain citizens' freedom.

The ranking is compiled on the basis of a large number of indicators, which are grouped together in four categories: rule of law, government size, regulatory efficiency and market openness.

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(Source: press release by the Observatory for Competitiveness)