Property Rights Alliance
The International Property Rights Index (IPRI) is the flagship publication of Property Rights Alliance. The IPRI scores the underlying institutions of a strong property rights regime: the legal and political environment, physical property rights, and intellectual property rights. It is the world’s only index entirely dedicated to the measurement of intellectual and physical property rights. Covering 125 countries, the 2024 IPRI reports on the property rights systems affecting 98 percent of the world’s gross domestic product (GDP) and 93 percent of the world’s population.
A tool for policymakers, business communities, and civic activists, the IPRI highlights the essential role property rights play in creating a prosperous economy and just society. In addition, the 2024 Index examines the robust relationship between property rights and other economic and social indicators of well-being, including gender equality, innovation, competition, prosperity, research and development, human development, open data, and measures of internet connectedness.
This year, 135 international organizations from 73 countries partnered with the PRA in Washington, D.C., along with its Hernando De Soto Fellow, Prof. Sary Levy-Carciente, to produce the 18th edition of the IPRI.
A Letter From
Hernando de Soto
In the current global environment, where countries are facing economic recessions and instability, intellectual property emerges as a solution. The 2024 International Property Rights Index (IPRI) is presented as a vital tool for evaluating and understanding global property rights. Thanks to Dr. Sary Levy-Carciente, the Hernando de Soto Fellow for 2024, and Lorenzo Montanari, the Executive Director of the Property Rights Alliance, the 2024 International Property Rights Index (IPRI) has been published. This IPRI report provides an informative analysis of why property rights are fundamental in building and maintaining a resilient economy.
Spanning over 125 countries, the IPRI represents 93.4% of the global population and 97.5% of world GDP. The average IPRI score for 2024 stands at 5.18, showing a slight decrease of 0.53% from the previous year. This decline is mainly credited to reductions in the Legal and Political Environment (LP) and Physical Property Rights (PPR) components. Specifically, the LP component decreased by 1.5%, with its average score falling to 4.98. The PPR component experienced a small drop of 0.31%, now averaging 5.21. However, the Intellectual Property Rights (IPR) component showed a modest improvement of 0.19%, reaching an average score of 5.36.
Large disparities in property rights are shown across different income levels and regions. High-income countries lead with the highest average IPRI score of 6.59, while Upper Middle-Income countries average 4.74. Lower Middle-Income countries have an average score of 4.12, and Low-Income countries fall behind with an average score of 3.70. All income groups have seen a decline in their IPRI scores this year, with Low-Income countries experiencing the most visible decrease of 2.5%.
Regional variations are also impacted. North America and Western Europe have the highest IPRI scores, averaging 7.15 and 7.03, respectively. Conversely, Latin America and the Caribbean, Africa, and the Middle East and North Africa are at the lower end, with average scores of 4.17, 3.37, and 3.98. Each region, except North America and Western Europe, has experienced a decline in IPRI scores compared to 2023.
The report also has a gender component that demonstrates inequalities in property rights between genders. The average Gender Equality (GE) score for 2024 has risen to 7.91, a 9.6% increase from 2023. Nevertheless, the IPRI-GE score, adjusted for gender, is 8.98% lower than the overall IPRI score, though it represents a 3.4% improvement from the previous year. This indicates progress, yet substantial gender inequalities in property rights persist, with North America and Western Europe leading in gender equality and Africa and the Middle East and North Africa falling behind.
The IPRI shows strong correlations with various economic and competitiveness indices. It highlights a strong positive correlation with the Legatum Prosperity Index (0.93), the Global Talent Competitiveness Index (0.92), and the Global Entrepreneurship Index (0.90). These correlations show the significance of having property rights in creating economic prosperity and innovation. Countries in the top quintile of IPRI scores exhibit per capita incomes 19 times greater than those in the bottom quintile, reinforcing the relationship between property rights and economic success.
In addition to quantitative analysis, the 2024 report features case studies that explore the ever-changing landscape of property rights. These include the implications of artificial intelligence on patenting, conservative perspectives on property rights, and recent reforms affecting rural property in Colombia and pharmaceutical patents in Argentina.
The 2024 IPRI report demonstrates ongoing problems and areas for improvement in the world of property rights. While there are positive developments, considerable efforts are needed to strengthen property rights globally. This report serves as a valuable resource for policymakers, researchers, and advocates committed to advancing property rights and promoting economic development.
I am delighted to present the 2024 International Property Rights Index. Working with the Property Rights Alliance, an organization dedicated to advancing economic growth and upholding democratic values through the protection of property rights, is a great honor. Their steadfast commitment to these principles is well-represented in this Index.
Sincerely,
Hernando de Soto
President
Lorenzo Montanari
Lorenzo Montanari, is Executive Director of the Property Rights Alliance (PRA), an advocacy group/think tank based in Washington, DC USA, affiliated to Americans for Tax Reform, committed to the protection of physical, legal and intellectual property rights around the world. At Property Rights Alliance, Lorenzo is in charge of publishing and editing the International Property Rights Index, an international comparative study focus on intellectual and physical property rights. Previously, he worked for a public affairs firm and at the international department of the GSPM/George Washington University in Washington, DC and as a political analyst and electoral observer in Latin America for European Union. Lorenzo holds a BA in Political Science and in International Relations from the University of Bologna and MA in Political Management from the George Washington University. He collaborates with Forbes.
Philip Thompson
Philip Thompson is a Policy Analyst at Tholos Foundation specializing in international intellectual property legislation and trade policy, in addition, Philip also supports the International Property Rights Index an annual publication of PRA. Before joining Tholos/PRA Philip coordinated youth community development programs in the U.S. and the Caribbean for five years, he has also interned at the American Legislative Exchange Council's foreign affairs task force and at the Cato Institute’s trade policy center. Philip holds a BA in International Conflict and Resolution and an MA in International Commerce and Policy, both from George Mason University.
Dr. Sary Levy-Carciente
Sary Levy-Carciente is a Venezuelan economist with expertise in applied economics. She holds a Doctorate in Development Studies, a master’s in international economics, and a Specialization in Administrative Sciences. Now a Research Scientist at the Adam Smith Center for Economic Freedom, Florida International University, was President of the National Academy of Economic Sciences in Venezuela. Full professor at the Central University of Venezuela, where she was Dean of the Faculty of Economic and Social Sciences and Principal of its Research Institute. She won the prestigious Fulbright Research Fellowship at the Center for Polymer Studies at Boston University. She was a Visiting Researcher at the Department of Economics at the University of Massachusetts. She has been responsible for the calculation and analysis of the International Property Rights Index (PRA, Washington, DC) since 2015; and author and coordinator of the Index of Bureaucracy (Florida International University). She has numerous publications, is invited as a speaker at academic and professional conferences, and is frequently consulted by the media on economic issues.