Venezuela is the last rung on the list of countries that protect private property


Apr 17, 2011, 01:38 PM | Ileana García Mora | Emen .- From a list of 129 nations, Venezuela is the last step in the ranking of countries that protect private property rights. This was revealed by the study on the International Index of Property Rights, prepared by the Alliance for Property Rights, which is part of the Center for Dissemination of Economic Freedom (Freedom Cedice).

"Venezuela is in last place worldwide with an overall score of 3.4 out of 10, where 10 represents the highest level of protection of property rights and zero means the absence of these rights in each country" , said Rafael Alfonzo Hernández, president of Freedom Cedice.

This study evaluated three criteria: legal environment, in which Venezuela was ranked 128; physical property rights, the place was at 127, and intellectual property rights, which remained in step 129. These indicators decreased sharply, "forming one of the worst behavior in the world", as stated in a press release Cedice.

The institute's president attributed this to excessive controls, permanent attacks on property rights through expropriation and nationalization, laws that limit freedom of investment and high inflation. Indicated that these factors make the Venezuelan economy "one of the most repressed."