Property rights build modern economies…
Property rights are the fundamental building blocks of a modern economy. Well-defined and transparent property rights and markets allow citizens to have a stake in the system so they can leverage their assets to generate wealth. Reliable and efficient property markets are also the foundation for economic growth and development that can help eliminate poverty.
…yet four billion poor remain excluded
Four billion people around the world today remain excluded from the rule of law and do not have access to secure property rights or open and functioning institutions needed to improve their livelihoods. The Commission on Legal Empowerment of the Poor co-chaired by Hernando de Soto and Madeleine Albright – the first global initiative to focus on the link between exclusion, poverty, and the law – found that,
“In too many countries, the laws, institutions, and policies governing economic, social, and political affairs deny a large part of society the chance to participate on equal terms.”
International Property Markets Scorecard:
A market snapshot & roadmap for reform
Reforming such laws, regulations, and institutions is key to overcoming this exclusion and the focus on property rights is a good starting point. To be meaningful, property rights need supporting institutions of good governance and market economy. These institutions are essential for robust and accessible property markets.
The International Property Markets Scorecard maps out the ecosystem of property markets in different countries to highlight the areas of strength and weakness as well as opportunities for reform.