The Adam Smith Institute has been ranked as the No.10 think tank outside the US in a major new study for Foreign Policy magazine, making it the highest-placed domestic policy think tank in the UK. The ASI was also listed at No.5 in the 'Top 5 International Economic Policy Think Tanks' category.

The 'Think Tank Index' – which is based on a worldwide survey of hundreds of scholars and experts – is published in full in the January/February issue of Foreign Policy. It was compiled by James McGann, Assistant Director of the International Relations Program and Director of the Think Tanks and Civil Societies Program at the University of Pennsylvania.

Naturally we are delighted to feature in the top 10 of such an authoritative international study, and to be considered one of the five leading economic think tanks in the world – despite having a much smaller budget than many of our competitors. We put it down to many years of solid effort to produce timely, well-researched and practical policies, an eye to cost-effectiveness, and the continuing loyalty of our many supporters among the general public.

It has in fact been an excellent month. In Ian Dale's End of Year awards, the Adam Smith Institute was voted to be Think Tank of the Year. With big plans for 2009...