Thursday, March 24, 2011

Lion Rock in 2011 Property Rights Index

"Now that the correlation between economic well-being and property rights has been established, it is imperative to continue improving property rights on a global level."
-Hernando de Soto

The 2011 International Property Rights Index (IPRI) is an international comparative study that measures the significance of both physical and intellectual property rights and their protection for economic well-being.

The Lion Rock Institute’s Research Associate, Nicole Alpert, authors one of the case studies featured in the report, “Hong Kong: Sidestepping Property Rights in Preservation,” and details the current raggle-taggle heritage strategy:
In essence, a proposed monument allows the government to hold private property hostage, regardless of heritage value, eventually forcing private sector participation in the charade that is heritage conservation.
 The Index focuses on three areas: Legal and Political Environment (LP), Physical Property Rights (PPR), and Intellectual Property Rights (IPR) in order to incorporate and grasp the important aspects related to property rights protection.

Hong Kong's Rank
World Rank: 13 Regional Rank: 4
IPRI in Hong Kong rose to its highest level since the index began, indicating an interest in improvement and that more can be done. Judicial Independence rose 0.4 points, making up for declines in the three other variables. Protection of Physical Property and Registering Property both saw modest gains.
The increase in Copyright Piracy was reflected in the improving professional opinions about Hong Kong’s protection of intellectual property. The result is a 0.8 increase in IPR. Germany ties Hong Kong in its World Rank.

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