Nepal ranks 97 out of 128 countries in International Property Rights Index
Strong property rights system is a key element for fostering economic growth. With a score of 4.5 on a scale of zero to ten, Nepal has ranked 97h out of 128 countries in terms of the strength of property rights in this year‘s International Property Rights Index (IPRI). The IPRI is an annual publication of the Property Rights Alliance (PRA), a Washington DC-based think tank. In its effort to produce the IPRI, PRA has secured the support of 102 other think tanks and policy organisations in 69 countries involved in research, policy, development, education and promotion of property rights in their countries. In this context, Samriddhi Foundation is the partner think tank in Nepal for PRA and has been releasing the International Property Rights Index â€“ one of the most comprehensive international measurements of property rights around the world â€“ in Nepal since 2012.
IPRI is a comparative study that aims to quantify the strength of property rights – both physical and intellectual – and to rank countries accordingly. IPRI scores and ranks each country based on 10 variables reflecting the state of its Legal and Political Environment (LP), Physical Property Rights (PPR) and Intellectual Property Rights (IPR). In Legal and Political Environment, the sub-categories for evaluation are Judicial Independence, Rule of Law, Political Stability and Control of Corruption. Similarly, in Physical Property Rights, the sub-categories are Protection of Physical Property Rights, Registering Property and Access to Loans. Finally, the sub-categories in Intellectual Property Rights are Protection of Intellectual Property Rights, Patent Protection and Copyright Piracy.
Finland bags the top spot in this year‘s index with a score of 8.4 out of 10. This Index is expected to be helpful to politicians, economists, academicians, and entrepreneurs in learning about the necessity of protecting property rights around the world for world-wide economic growth.