REPORT EMPHASIZES CONNECTION BETWEENPROPERTY RIGHTS AND ECONOMIC WELL-BEING
2011 International Property Rights Index ranks 129 nations, 97 percent of world's GDP
22 March, 2011
Printable Version For Immediate Release
NEW DELHI, INDIA -Centre for Civil Society is proud to announce the release of the 2011 International Property Rights Index (IRPI), which measures the intellectual and physical property rights of 129 nations from around the world. This year, sixty-seven international organizations, including Centre for Civil Society, partnered with the Property Rights Alliance in Washington, DC and its Hernando de Soto Fellowship program to produce the fifth annual IPRI.
The IPRI uses three primary areas of property rights to create a composite score: Legal and Political Environment (LP),Physical Property Rights (PPR), and Intellectual Property Rights (IPR). Most importantly, the IPRI emphasizes the great economic differences between countries with strong property rights and those without. Nations falling in the first quintile enjoy an average national GDP per capita of $38,350; more than double that of the second quintile with an average of $18,701. The third, fourth, and fifth quintiles average $9,316, $5,065, and $4,785 respectively.
With regard to India, property rights continue to be a challenge. India this time scored 4.7 on Legal and Political Environment, 6.6 on Physical Property Right, 5.5 on Intellectual Property Right and 5.1 Gender Equality. Its overall score stood at 5.6, with a world rank of 52 out of 129 countries and a regional rank of 9 out of 19 countries. This was barely a marginal improvement than previous year's score. The Scandinavian nations continue to dominate the top of the rankings. Finland and Sweden both ranked first this year with a score of 8.5 out of 10.
Centre for Civil Society president Dr Parth J Shah said India still faced issues such as lack of proper documentation of land titles, incomplete land related data with 'patwari', the traditional record keeper and misuse of the land acquisition act. Even the last major land survey was conducted during British times.
"So far as property rights are concerned, the poor continue to fight the battle against forceful acquisition of their land by either the government or private parties. This remains a point of serious concern for India even as we achieve high rates of growth every year" Dr Shah said.
The International Property Rights Index provides the public, researchers and policymakers, from across the globe, with a tool for comparative analysis and future research on global property rights. The Index seeks to assist underperforming countries to develop robust economies through an emphasis on sound property law. Developing countries with stronger property rights protection enjoy, on average, higher GDP growth highlighting the effects property rights can have on alleviating property.
For more information, or to view the 2011 IPRI in its entirety, please visit www.propertyrightsalliance.org