Index of Economic Freedom

The Index of Economic Freedom (IEF) is an annual composite indicator that measures 10 quantitative and qualitative factors, grouped into four major pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labor freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). The index is published annually by The Heritage Foundation (prominent Washington think tank) and The Wall Street Journal.