Property rights are one of the fundamental institutions of any capitalist economic system. Property owners, private or public, have the right to allocate the use of their property and to transfer the rights to others at will. Such allocation and transfer of rights require a professional and reliable public service and legal system to delineate what constitutes the property and what rights are attached, and to protect them when there are disputes. Disputes arise when one party accuses another of infringing on their property rights. In the BEI survey, we assessed the confidence of the respondents in the legal system’s protection of property rights and their perceptions of the process of dispute resolution involving rental contracts and private land.
The Property Rights sub index aims to measure the confidence in both the legal system’s protection of property rights and in the fairness of dispute resolution.
The higher overall index score along with the individual scores for sub-indices always refer to a better performance within the context of the BEI.