Variable: Business Freedom

QoG Code: (hf_business)

Dataset: Index of Economic Freedom

Description:

The business freedom score encompasses 10 components, all weighted equally, based on objective data from the World Bank's Doing Business study (in 2005-2006; previously other data sources were being used):

• Starting a business - procedures (number)
• Starting a business - time (days)
• Starting a business - cost (% of income per capita)
• Starting a business - minimum capital (% of income per capita)
• Obtaining a license - procedures (number)
• Obtaining a license - time (days)
• Obtaining a license - cost (% of income per capita)
• Closing a business - time (years)
• Closing a business - cost (% of estate)
• Closing a business - recovery rate (cents on the dollar)

Each of these raw components is converted into a scale graded from 0 to 100, where 100 represents the maximum degree of business freedom.

Type of variable: Continuous

Last updated by source: 2021-01-29

Categories:

Private Economy

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