To what extent does your country`s legal framework allow private companies to resolve disputes? 71.19 Effectiveness of boards of directors How would you characterize the corporate governance of investors and boards of directors in your country? [1 = Management is not accountable to investors and boards of directors; 7 = Investors and boards exercise rigorous oversight of management decisions] | Weighted average 2010–11. Global Competitiveness Report 2012-2013 How would you characterize the corporate governance of investors and boards of directors in your country? We are digging deeper into the many components of the CIM to create our own national “rule of law” power indicator (see chart on the right). Although education, health, technological readiness, innovation, etc. For individual investments, a stricter assessment of the rule of law is crucial. 61.10 Effectiveness of the legal framework for dispute settlement To what extent does your country`s legal framework allow private companies to resolve disputes? [1 = extremely inefficient; 7 = very effective] | Weighted average 2010–11. Global Competitiveness Report 2012-2013 41.01 Property Rights How do you assess the protection of property rights, including financial assets, in your country? [1 = very weak; 7 = very strong] | Weighted average 2010–11. Global Competitiveness Report 2012-2013 How difficult is it for businesses in your country to comply with regulatory administrative requirements (e.g. permits, regulations, reports)? How do you assess the protection of property rights, including financial assets, in your country? The World Justice Project`s Rule of Law Index is a quantitative assessment tool designed to provide a detailed and comprehensive picture of countries` compliance with the rule of law in practice. The index provides data on eight dimensions of the rule of law: limited governmental powers; absence of corruption; order and security; civil rights; Open Government; enforcement; Civil justice; and criminal justice. These factors are then broken down into forty-four indicators.
Together, they provide a comprehensive picture of respect for the rule of law. [6] The index is generally published annually. [7] The power of institutions and the rule of law are more complex to assess. However, the World Economic Forum`s Global Competitiveness Index (GCI)2 provides extensive details on 12 “pillars” of competitiveness, ranging from institutions to health to innovation, etc. While the overall GCI index is interesting, the survey details provide a good overview of specific structural areas within a country. Index rankings and scores are based on more than 400 variables from two new data sources: (i) a General Population Survey (GPP) designed by the WJP and conducted by leading local pollsters using a probability sample of 1,000 respondents in the three largest cities in each country; and (ii) a Qualified Respondent Questionnaire (QRQ) completed by national experts in civil and commercial law, criminal law, labour law and public health. To date, more than 97,000 individuals and 2,500 experts in 99 countries and jurisdictions have been interviewed. [8] Respect for the rule of law is assessed on the basis of 47 indicators grouped around eight themes: limitation of governmental powers, absence of corruption, open government, fundamental rights, order and security, law enforcement, civil justice and criminal justice. In addition to country ratings and rankings, the index also includes key global scores, as well as analysis of regional strengths, rule of law challenges, best and worst outcomes, and observed trends.
[9] 51.09 Burden of Government Regulation To what extent are businesses in your country making efforts to comply with regulatory administrative requirements (e.g. permits, regulations, reports)? [1 = extremely stressful; 7 = not at all painful] | Weighted average 2010–11. Global Competitiveness Report 2012-2013. See last year`s results — CFS Rule of Law Index 2011-2012. The table shows the ranks of 144 countries. The smallest numbers represent high ranks and low risk. 3Average ranking of the five components (RLI) Unweighted average of the five components. (CSA) The WJP operates through three programs – Research and Science, the WJP Rule of Law Index and Engagement. The WJP aims to raise public awareness of the fundamental importance of the rule of law, stimulate government reform and develop practical programmes at the community level.
Sound macroeconomic management and trade policies are largely responsible for the first two factors mentioned by Summers. Although complex, there are many mechanisms for assessing macroeconomic fundamentals. The top 20 countries for the rule of law according to the WJP in 2021 are:[10] Since 2007, the WJP has organized four global justice forums. The first Global Forum on Justice was held from 2 to 5 October. It was held in Vienna in July 2008. The Second World Justice Forum was held from 11 to 14 November 2009, also in Vienna. The third World Justice Forum was held from 20 to 23 June 2011 in Barcelona, Spain. The fourth World Justice Forum was held from 8 to 11 July 2013 in The Hague, the Netherlands. 12. Source: World Bank/International Finance Corporation, Doing Business 2011: Making a Difference for Entrepreneurs, The Global Competitiveness Report 2012-2013 and Center for Financial Stability Inc. The World Justice Project convened a small working group of Tunisian business, government and civil society leaders in Tunis, Tunisia, on 28 May 2012 to assess the rule of law opportunities and challenges facing Tunisia during the ongoing reform process.
The WJP worked closely with the World Federation of Engineering Organizations (WFEO), the Arab Centre for Rule of Law and Integrity (ACRLI) and the Hague Institute for the Internationalization of Law (HiiL) in the planning and implementation of the workshop in Tunisia.