An index of economic freedom compiled by US think-tank the Heritage Foundation and the Wall Street Journal has placed Ireland seventh of 157 countries.
Ireland is rated as second in Europe after the UK, which is sixth. Hong Kong and Singapore finished first and second respectively for the 13th year in a row, while Australia moved up to third. The US was fourth and New Zealand fifth.
The report said the 157 nations rated in the index received an average economic freedom score of 60.6. 100 represents ideal economic freedom, according to the compilers. The 2006 score is down slightly from the previous year's average, but still rates as the second highest level of freedom in the survey's history.
