Hong Kong is ranked in the top 20 spots on the global scale and in the top five in the Asia-Pacific region for property rights.
Photo: Chris Lusher
The International Property Rights Index emphasises the importance that property rights have in influencing a country’s economic prosperity and freedom. The index consists of 127 different countries (93% of the world’s GDP and 95% of the world’s population), which revealed Western countries at the top of the list with the strongest property rights protections. On 11 July, the 2017 International Property Rights Index will be officially launched in Buenos Aires in partnership with Libertad y Progreso, an Argentinian think tan.
Hong Kong ranked globally at 19 of the 127 countries in the rankings, with a regional rank of 5 out of 19 countries. Its IPRI score increased over the past year by 0.01 points, leaving it a 7.79. Hong Kong saw an increase in the Intellectual Property Rights Subindex by 0.07 to 7.27, with 8.3 in Intellectual Property Protection, 7.62 in Patent Protection, and 5.9 in Copyright Protections. The countries in the Asia-Pacific region that come before Hong Kong are New Zealand (10), Singapore (7), Japan (8), and Australia (10).
Hong Kong faced some minor decreases within a couple of categories in two different subindices. In the Legal and Political Subindex, Hong Kong’s score decreased by 0.04 to 8.23, scoring 8.86 in Judicial Independence, 8.66 in Rule of Law, 7.06 in Political Stability, and 8.35 for Control of Corruption. Its Physical Property Rights Subindex decreased by 0.01 to 7.85, scoring 8.68 in Property Rights, 9.06 in Registering Property, and 5.82 in Ease of Access to Loans.
The Index contains correlations between scores from the IPRI and other measures of social and economic well-being. Those that correlated the strongest with the IPRI are global entrepreneurship (GEI), network readiness (NRI), civic activism, the human development (HDI), the number of researchers in R&D, and environmental performance (EPI-Yale). The Index also has case studies that show the diversity of the issues surrounding property rights, and how any country can achieve progress, regardless of the damage that has been inflicted on property rights in the past.
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