Credit: Bloomberg TV Malaysia
Malaysia ranks second in Asean after Singapore and 28th among 129 countries globally in the 2015 International Property Rights Index. Sary Levy-Carciente, author of the study and professor of economics at the Central University of Venezuela, discusses the findings with Bloomberg TV Malaysia’s Sophie Kamaruddin.
This is in conjunction with the global launch of the International Property Rights Index (IPRI) 2015 on 16 November 2015 at the Park Royal Hotel. The launch was hosted by the Southeast Asia Network for Development (SEANET), a project of the Institute for Democracy and Economic Affairs (IDEAS) to look into ASEAN economic integration. SEANET believe in three key principles: inclusive development, property rights and free movement of people and goods. SEANET conduct research and advocacy to catalyse the adoption of market-friendly principles, particularly by inviting opinion-shapers to analyse evidence of how free trade can speed up national and regional growth.
SEANET and IDEAS are part of the Property Rights Alliance, a network of 74 think tanks from 57 countries committed to researching on property rights. Every year the Property Rights Alliance produce the International Property Rights Index (IPRI) which scores and ranks countries worldwide based on three factors: the state of their legal and political environment, physical property rights, and intellectual property rights.
These three factors are crucial for the economic growth, development as well as attracting investment into a country. The results of the IPRI analysis consistently suggests that there is a positive relationship between the rate of economic growth and the quality of property rights protection.