Ireland is the world's sixth most economically free state, according to research from the Edmund Burke Institute.
According to the institute's Freedom of the World annual report the Republic scored 8.7 out of a possible score of 10, placing it just behind Britain in terms of economic freedom. At the time of the last report in 1997 Ireland was in 21st position. Top for economic freedom was Hong Kong followed by Singapore, New Zealand, the US and Britain.
After Ireland , Canada and Australia came in joint seventh place followed by the Netherlands and Luxembourg and Switzerland in joint ninth position.
The report is published in 47 countries and is a study of the relative economic freedom in 123 countries.
The institute measures 23 indicators including the percentage of the economy accounted for by Government activity, the presence of price controls, the top marginal rates of tax, the freedom to trade, the right to a fair trial and the freedom to enforce contracts.
Ireland has benefited according to the Institute, from decreased Government participation in the economy together with growing international trade and investment.
