New Zealand has retained third place in a world economic freedom report carried out by Canada’s leading public policy think-tank, the Fraser Institute. The 21 report takes data from 28 and compares 141 countries by measuring the degree to which a country’s policies and institutions support economic freedom. Hong Kong took first place and Singapore second. The report notes that countries that have free and open markets also tend to have a strikingly higher quality of life. People living in countries of greater economic freedom appear to enjoy higher levels of economic well-being, greater individual freedom and longer life expectancy.