Taiwan is 6th in Asia for Economic Freedom
According to the U.S. Heritage Foundation and the Wall Street Journal’s 2006 Index of Economic Freedom, Taiwan is sixth in economic freedom in Asia, after Hong Kong, Singapore, New Zealand, Australia, and Japan. The ranking puts Taiwan in the “mostly free” category.
In 2006 Taiwan scored an average of 2.38 (a score of 1 indicates the most free and 5 indicates the least free) in the 10 evaluation items: trade policy, fiscal burden, government intervention, monetary policy, foreign investment, banking and finance, wages and prices, property rights, regulation, and informal market. Compared with the 2005 index, Taiwan’s score advanced by 0.5 points in trade policy and 0.1 points in fiscal burden, to 2 and 3.3 points, respectively. In the banking and finance, Taiwan was down 1 point, bringing its overall score up (or less free) by 0.09 points.
Economic Freedom in Asia, 2004 - 2006
Country 2006 2005 2004
Score Asia Score Asia Score Asia
Ranking Ranking Ranking
Hong Kong 1.28 1 1.35 1 1.34 1
Singapore 1.56 2 1.60 2 1.61 2
New Zealand 1.84 3 1.70 3 1.70 3
Australia 1.84 3 1.79 4 1.88 4
Japan 2.26 5 2.46 6 2.53 6
Taiwan 2.38 6 2.29 5 2.43 5
South Korea 2.63 7 2.64 7 2.69 7
China 3.34 11 3.46 17 3.64 20
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