Property Rights and Economic Development

Greater respect for property rights leads to faster economic development

Monday, April 25, 2011

The order of the countries in the 2011 International Property Rights Index (IPRI) report is less important than the conclusions that are possible to obtain by analyzing correlations between the parameters that comprise the index and economic development.

The 2011 report highlights the overwhelmingly positive relationship between economic prosperity, measured by per capita GDP, and the protection of intellectual and physical property rights.

In the report, Kelsey Zahourek, Executive Director of the Property Rights Alliance, states that, "patents, trademarks and copyrights provide inventors and great thinkers with the ability to be rightly rewarded for their innovations. Likewise, land rights provide empowerment through ownership, allowing citizens to utilize and prosper from their investment. Economic growth only occurs when property, in all forms, is respected and protected."

More on this topic

Costa Rica: GDP to Second Quarter Up 3.5%

October 2017

Although the Gross Domestic Product recorded an increase in the second quarter of the year, the growth rate of private consumption declined and corporate investment fell by around 11%.

From a report by the Central Bank of Costa Rica:

In the second quarter of 2017, economic activity, measured by the trend cycle of real GDP, grew at an annualized rate of 3.5%, reflecting higher external demand as well as the positive contribution of final consumption, both on the part of households and the Government. In a year-on-year comparison, production increased by 4.0%.  

Foreign Investment in Panama Reaches 9.7% of GDP

June 2011

In the first three months of 2011 direct foreign investment totaled $746 million, an increase of 21% compared to the same period in 2010.

Kristelle Getzler, the Ministry of Economy for the State, said that in the first six months of 2011, seven new multinationals settled in the country, among which are TLAS Copco from Sweden, and Merck and Bauer from Germany.

El Salvador Not Attracting Foreign Investors

May 2011

In the past year, foreign direct investment represented only 0.41% of the gross domestic product (GDP).

Details of foreign investment ranking in relation to GDP in 2010, conducted by the Latin Business Chronicle, position El Salvador in front of Ecuador (0.28%) and Venezuela (-0.48%) alone.

Costa Rica ranks seventh for foreign investment

May 2008

Costa Rica is number seven in ranking of the Latin American countries that attract most foreign investment, according to a report by the United Nations Economic Commission for Latin America and the Caribbean.

Last year, Costa Rica received US$1.889 billion in foreign investment. Only Brazil, Mexico, Chile, Colombia, Argentina and Peru did better.

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