Bahrain is ranked as one of the world's top 30 counties for economic freedom, according to the 234-page "Economic Freedom of the World" 2011 annual report published by Fraser Institute, Canada's leading economic think tank. The top spot in this year's report, which assesses 141 nations and uses 49 different measures, goes to Hong Kong, followed by Singapore, New Zealand, Switzerland and Australia. The rankings for the Middle East include Bahrain 11th; UAE, 14th; Oman, 28th (up 15 places from 43rd from last year); Kuwait, 47th; Jordan 62nd; Egypt 93rd; Tunisia 94th; and Morocco 105th. The 2011 Report is based on data from 2009, the most recent year for which comprehensive information is available. In producing the annual peer-reviewed Economic Freedom of the World Report, the Fraser Institute works in cooperation with independent institutes in 75 nations and territories. Jean-Pierre Chauffour, lead economist, Middle East and North Africa Region, World Bank, noted that depending on the balance between free choices and more coerced decisions, individual opportunities to learn, own, work, save, invest, trade, protect, and so forth could vary greatly across countries and over time. Chauffour's empirical findings suggest that fundamental freedoms are paramount in explaining long-term economic growth. Countries that favor free choice – economic freedom and civil and political liberties – over entitlement rights are likely to achieve higher sustainable economic growth. In contrast, pursuing entitlement rights through greater coercion by the state is likely to be self-defeating in the long run. Nations that are economically free outperform non-free nations in indicators of well-being, the report noted. Nations in the top quartile of economic freedom had an average per-capita GDP of $31,501 in 2009, compared to $4,545 for those nations in the bottom quartile, in constant 2005 international dollars. Nations in the top quartile of economic freedom had an average growth in per-capita GDP between 1990 and 2009 of 3.07 percent, compared to 1.18 percent for those nations in the bottom quartile. In the top quartile, the average income of the poorest 10 percent of the population was $8,735, compared to $1,061 for those in the bottom quartile. Interestingly, the report revealed that average income of the poorest 10 percent in the top quartile is almost double the overall income per capita in the bottom quartile at $4,545. The poorest people in the most economically free countries are nearly twice as rich as the average people in the least free countries. Moreover, the repot said life expectancy is 79.4 years in the top quartile compared to 60.7 years in the bottom quartile. The $1.25-per-day poverty rate is 2.7 percent in the top quartile compared to 41.5 percent in the bottom quartile, it added.
