The International Property Rights Index (IPRI) 2010, which measures the intellectual and physical property rights of 125 nations, from around the world, has Finland at the top for the fourth consecutive year. Pakistan is at the other end of the list. These 125 countries included in this Index form the 97% of worlds GDP. For India, property rights continue to be a challenge. This year’s Index ranks India at 53, and regional rank at 9. For the second year running, India’s performance slipped from 6.1 in 2008, to 5.7 in 2009, and 5.4 in 2010. The IPRI 2010 will be released by the Honourable Minister for Law and Justice, Dr M. Veerappa Moily on 14 May 2010, in New Delhi.
The IPRI emphasizes the great economic differences between countries with strong property rights and those without. IPRI ranks countries based on 11 factors which reflect the state of both Intellectual and physical property rights. This year, sixty-two international organizations, including Liberty Institute in India, partnered with the Property Rights Alliance in Washington, DC and its Hernando de Soto Fellowship program to produce the fourth annual IPRI.
Three primary areas of private property rights were used by IPRI to rank the countries: Legal and Political Environment (LP), Physical Property Rights (PPR), and Intellectual Property Rights (IPR). Nations falling in the first quintile enjoy an average national GDP per of $35, 676; almost double that of the second quintile with an average of $20, 087. The third, fourth, and fifth quintiles average $9,375, $4,699, and $4,437 respectively.
India experienced a decline in all the three components. A decrease in judicial independence score was responsible for the drop in the Legal and Political environment score. The physical property rights came down as of a deterioration of opinion of business leaders on the protection of private property rights and access to loans. There was a slight improvement in the copyright piracy levels for business software, however.
The IPRI emphasizes the great economic differences between countries with strong property rights and those without. IPRI ranks countries based on 11 factors which reflect the state of both Intellectual and physical property rights. This year, sixty-two international organizations, including Liberty Institute in India, partnered with the Property Rights Alliance in Washington, DC and its Hernando de Soto Fellowship program to produce the fourth annual IPRI.
Three primary areas of private property rights were used by IPRI to rank the countries: Legal and Political Environment (LP), Physical Property Rights (PPR), and Intellectual Property Rights (IPR). Nations falling in the first quintile enjoy an average national GDP per of $35, 676; almost double that of the second quintile with an average of $20, 087. The third, fourth, and fifth quintiles average $9,375, $4,699, and $4,437 respectively.
India experienced a decline in all the three components. A decrease in judicial independence score was responsible for the drop in the Legal and Political environment score. The physical property rights came down as of a deterioration of opinion of business leaders on the protection of private property rights and access to loans. There was a slight improvement in the copyright piracy levels for business software, however.
Overall, there was no improvement for any South Asian country, other than Bangladesh. The IPRI score remained the same for Nepal. There was a fall in the IPRI score for both Pakistan and Sri Lanka. Among Asian countries, Singapore came on top, followed by Japan. The worst performers were Pakistan and Bangladesh. Nepal's legal & political environment (LP) is 3.1, physical property rights (PPR) and intellectual property rights (IPR) is 3.5, altogether IPRI of Nepal becomes 4.0.
Barun S. Mitra, the director of Liberty Institute has written the foreword to 2010 Index. Commenting on the state of property rights today, he says that the present “financial crisis is the consequence of distorting or altogether disconnecting the relationship between property and ownership, and therefore valuation became a problem”. Hernando de Soto, the eminent economist, whose work in property rights lead to the inception of the IPRI, commented on the 2010 publication: “The fourth edition of the IPRI reveals encouraging signs of improvement in some countries, while also bringing attention to disturbing trends in others.”
Liberty Institute co-published the Indian edition of the International Property Rights Index 2010 with the Academic Foundation. This initiative has been supported by the Friedrich-Naumann-Stiftung für die Freiheit, and the international Property Rights Alliance. In addition to the Liberty Institute, there are two other Indian members to this Alliance – Centre for Civil Society and the Centre for Policy Research.
Barun S. Mitra, the director of Liberty Institute has written the foreword to 2010 Index. Commenting on the state of property rights today, he says that the present “financial crisis is the consequence of distorting or altogether disconnecting the relationship between property and ownership, and therefore valuation became a problem”. Hernando de Soto, the eminent economist, whose work in property rights lead to the inception of the IPRI, commented on the 2010 publication: “The fourth edition of the IPRI reveals encouraging signs of improvement in some countries, while also bringing attention to disturbing trends in others.”
Liberty Institute co-published the Indian edition of the International Property Rights Index 2010 with the Academic Foundation. This initiative has been supported by the Friedrich-Naumann-Stiftung für die Freiheit, and the international Property Rights Alliance. In addition to the Liberty Institute, there are two other Indian members to this Alliance – Centre for Civil Society and the Centre for Policy Research.
(This Index published on May 10, 2010)
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