European Proceedings Logo

Assessment of Economic Development Level as the Basis to Analyze Society Welfare

Table 4:

Criterion Method of assessment Data source
Tariff and non-tariff barriers level Calculated as economic freedom level based on Index of Economic Freedom Law implementation (security of proprietary right, venality level)Restrictions by the Government (fiscal freedom, public expenditure)Regulation effectiveness (freedom of enterprise, freedom of labor, monetary freedom)Market openness (financial, investment, commercial)
Economic regulatory quality. Law implementation Calculated as performance measurement of governance based on The Worldwide Governance Indicators (WGI) Household analysis (9 data sources, including The Global Competitiveness Review)Commercial data analysis (4 data sources)Analysis of non-governmental organizations (8 data sources, including The World Bank, regional development banks)
< Back to article