The Nexus Between Economic Freedom And Business Competitiveness – Analysis Report

The degree of Economic freedom1 in a country is important in the creation of an environment that support entrepreneurial development, and promotion of industry growth and competitiveness, which is necessary for economic growth. Most countries especially in Africa, including Zimbabwe, have low economic freedom rankings as per the Heritage Foundation’s Index2.

The World Economic forum defines competitiveness as “the set of institutions, policies and factors that determine the level of productivity of a nation. The Heritage Foundation’s Index of Economic Freedom assesses the political-economic institutional aspect of an economy, which is therefore key in determining the competitiveness.

Economic freedom indexes are motivated by the observation that economies that are more free market-based tend to be more competitive and experience greater levels of investment, more rapid growth and higher average incomes.

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The Nexus Between Economic Freedom And Business Competitiveness