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Frequently Asked Questions

Macroeconomic comparison tools


 


GDP per capita

The national output, divided by the population, expressed in U.S dollars per person.

Source: IMF World Economic Outlook Database


GDP/Cap growth - 1 year

The percentage change in GDP per capita during the latest year.

Source: IMF World Economic Outlook Database


GDP/Cap growth -5 year

The average annual percentage change in GDP per capita during the five most recent years.

Source: IMF World Economic Outlook Database


Economic freedom index

How free is a country′s economy? The 2006 Index of Economic Freedom measures 161 countries by 50 criteria, divided into 10 broad groups.

Low scores are more desirable. A higher score means more government interference in the economy, and less economic freedom.

  • Free 80 to 100
  • Mostly Free 70 to 79.9;
  • Moderately Free 60 to 69.9
  • Mostly Unfree 50 - 59.9
  • Repressed 0 to 49.9

Source: The Heritage Foundation and the Wall Street Journal


Economic freedom index 5 year change

Increased economic freedom is strongly associated with high GDP growth. We measure the change in the freedom score over five years:

  • Greatly Improved
  • Improved
  • Neutral
  • Worse
  • Much Worse

Source: The Heritage Foundation and the Wall Street Journal


Growth competitiveness

The Growth Competitiveness Index (GCI) aims to quantify the quality of the macroeconomic environment, the state of a country′s public institutions, and its level of technological readiness.

Higher competitiveness scores are more desirable:

  • Very High 5.51 to 7
  • High 4.51 to 5.50
  • Medium 3.51 to 4.50
  • Low 3.01 to 3.50
  • Very low 0 to 3.00

Source: World Economic Forum


Property rights index

The Property Rights Index, a subcomponent of the Index of Economic freedom, measures the degree to which a country′s laws protect private property rights, and the degree to which its government enforces those laws.


It also assesses the likelihood that private property will be expropriated and analyzes the independence of the judiciary, the existence of corruption within the judiciary, and the ability of individuals and businesses to enforce contracts.


The more certain the legal protection of property, the higher a country′s score; similarly, the greater the chances of government expropriation of property, the lower a country′s score.


Higher scores are more desirable (on a scale of 0-100).


Source: The Heritage Foundation and the Wall Street Journal


Currency +/- valuation

This is a cost of living indicator. It roughly shows how much a bundle of goods costing US$1 in the US would cost in another country. We use the IMF′s nominal GDP and PPP GDP figures.


Note that currency undervaluation (as measured by PPP) is not a good predictor of future currency movements.


Source: Calculated using figures from the IMF World Economic Outlook Database.



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