The data is downloaded from Heritage Organization
The Economic Freedom Index is poised to help readers track over two decades of the advancement in economic freedom, prosperity, and opportunity and promote these ideas in their homes, schools, and communities. The Index covers 12 freedoms – from property rights to financial freedom – in 186 countries.
The attributes are
- Country Name
- Region
- World Rank
- Region Rank
- 2019 Score
- Property Rights
- Judical Effectiveness
- Government Integrity
- Tax Burden
- Gov't Spending
- Fiscal Health
- Business Freedom
- Labor Freedom
- Monetary Freedom
- Trade Freedom
- Investment Freedom
- Financial Freedom
- Other supporting information: Tariff Rate (%),Income Tax Rate (%),Corporate Tax Rate (%),Tax Burden % of GDP,Gov't Expenditure % of GDP ,Country,Population (Millions),"GDP (Billions, PPP)",GDP Growth Rate (%),5 Year GDP Growth Rate (%),GDP per Capita (PPP),Unemployment (%),Inflation (%),FDI Inflow (Millions),Public Debt (% of GDP)
The 12 freedom evaluation attributes are quantitative, the rank attributes are ordinal and the country name att is categorical.
There are 32 attributes in total describing the economic freedom from head to toe, which gives much room for using the dataset. Inspiration of using the dataset includes:
- How is the economic freedom distribution around the world? Is there any region pattern?
- Which are the top countries who have the most tax burden?
- Is there any relationship between trade freedom and the country location? i.e. whether it is a inland country or not?