As per Economic freedom report 2017; Economic freedom is measured based on 12 quantitative and qualitative factors, grouped into four broad categories, or pillars, of economic freedom:

1.Rule of Law (property rights, government integrity, judicial effectiveness).

2.Government Size (government spending, tax burden, fiscal health).

3.Regulatory Efficiency (business freedom, labor freedom, monetary freedom).

4.Open Markets (trade freedom, investment freedom, financial freedom).