NZ Scores Well in International Property Rights Index
New Zealand Scores Well in International Property Rights Index
2011 International Property Rights Index ranks 129 nations, 97 percent of world’s GDP
The New Zealand Business Roundtable today announced 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 organisations, including the New Zealand Business Roundtable, 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 emphasises 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 New Zealand, Business Roundtable executive director Roger Kerr said that for 2010 New Zealand retained its overall rank as first of 19 countries in the Asia Oceania region, and fifth in the world, although its fall on one score was a matter of concern.
“New Zealand scored first in the world on Judicial Independence, and it was also noted that New Zealand maintains one of the most efficient property registration regimes in the world, with only two procedures and two days required to register property. Our score on Physical Property Rights decreased, reflecting falling expert opinion towards the protection of property rights and a lower Access to Loans score, and Intellectual Property Rights remained stable”, Mr Kerr 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.
To view the full 2011 IPRI report, please visit www.propertyrightsalliance.org.
See also this report commissioned by Business New Zealand, Federated Farmers, the New Zealand Business Roundtable and the New Zealand Chambers of Commerce. Despite New Zealand’s relatively good record on property rights, the report identifies areas where we could do better.
16 March 2011