The new 2013 report on Economic Freedom has been published; a full report can be found here and again Italy's ranking is a disaster for a major economy.
On the overall score Italy is ranking 83rd which by itself is an appalling result for a major developed economy, positioning itself below Uganda and Sri Lanka.
But when it comes to Freedom from Corruption Italy manage to score an appalling score of 39 together with Ghana and Macedonia.
Below some extracts from the report delving into an analysis of Italy's shortcomings:
The foundations of economic freedom remain weak in the absence of an efficient judicial framework to provide effective and timely resolution of cases. Corruption, often involving government officials, is a growing concern, severely undercutting confidence and trust in the government.
As per the rule of law and corruption Italy is faring among the worst countries, below the motivation for such low ranking:
And when it comes to attracting investments:
Property rights and contracts are secure, but court procedures are extremely slow. Many companies choose to settle out of court. The legal system is vulnerable to political interference. Widespread corruption has bred a culture of lawlessness and tax evasion and has weakened respect for the judiciary. Enforcement of intellectual property rights is below developed-country standards.
Regulatory complexity causes delays and increases the cost of entrepreneurial activity. Completing licensing requirements takes over 200 days and costs more than the level of average annual income. Serious labor market rigidities constrain job growth, and the informal labor market accounts for a large proportion of employment. Stagflation engendered by the eurozone crisis presents monumental monetary policy challenges.
OVERALL SCORE BY COUNTRY:
Hong Kong | 89.3 |
Singapore | 88 |
Australia | 82.6 |
New Zealand | 81.4 |
Switzerland | 81 |
Canada | 79.4 |
Chile | 79 |
Mauritius | 76.9 |
Denmark | 76.1 |
United States | 76 |
Ireland | 75.7 |
Bahrain | 75.5 |
Estonia | 75.3 |
United Kingdom | 74.8 |
Luxembourg | 74.2 |
Finland | 74 |
The Netherlands | 73.5 |
Sweden | 72.9 |
Germany | 72.8 |
Taiwan | 72.7 |
Georgia | 72.2 |
Iceland | 72.1 |
Lithuania | 72.1 |
Austria | 71.8 |
Japan | 71.8 |
Macau | 71.7 |
Qatar | 71.3 |
United Arab Emirates | 71.1 |
Czech Republic | 70.9 |
Botswana | 70.6 |
Norway | 70.5 |
Jordan | 70.4 |
Saint Lucia | 70.4 |
South Korea | 70.3 |
The Bahamas | 70.1 |
Uruguay | 69.7 |
Colombia | 69.6 |
Armenia | 69.4 |
Barbados | 69.3 |
Belgium | 69.2 |
Cyprus | 69 |
Slovakia | 68.7 |
Macedonia | 68.2 |
Peru | 68.2 |
Oman | 68.1 |
Spain | 68 |
Malta | 67.5 |
Hungary | 67.3 |
Costa Rica | 67 |
Mexico | 67 |
Israel | 66.9 |
Jamaica | 66.8 |
El Salvador | 66.7 |
Saint Vincent and the Grenadines | 66.7 |
Latvia | 66.5 |
Malaysia | 66.1 |
Poland | 66 |
Albania | 65.2 |
Romania | 65.1 |
Bulgaria | 65 |
France | 64.1 |
Rwanda | 64.1 |
Thailand | 64.1 |
Dominica | 63.9 |
Cape Verde | 63.7 |
Kuwait | 63.1 |
Portugal | 63.1 |
Kazakhstan | 63 |
Turkey | 62.9 |
Montenegro | 62.6 |
Panama | 62.5 |
Trinidad and Tobago | 62.3 |
Madagascar | 62 |
South Africa | 61.8 |
Mongolia | 61.7 |
Slovenia | 61.7 |
Croatia | 61.3 |
Ghana | 61.3 |
Paraguay | 61.1 |
Uganda | 61.1 |
Sri Lanka | 60.7 |
Italy | 60.6 |
Saudi Arabia | 60.6 |
Namibia | 60.3 |
Guatemala | 60 |
Burkina Faso | 59.9 |
Azerbaijan | 59.7 |
Dominican Republic | 59.7 |
Kyrgyz Republic | 59.6 |
Morocco | 59.6 |
Lebanon | 59.5 |
The Gambia | 58.8 |
Zambia | 58.7 |
Serbia | 58.6 |
Cambodia | 58.5 |
Honduras | 58.4 |
The Philippines | 58.2 |
Tanzania | 57.9 |
Gabon | 57.8 |
Brazil | 57.7 |
Benin | 57.6 |
Belize | 57.3 |
Bosnia and Herzegovina | 57.3 |
Fiji | 57.2 |
Swaziland | 57.2 |
Samoa | 57.1 |
Tunisia | 57 |
Indonesia | 56.9 |
Nicaragua | 56.6 |
Vanuatu | 56.6 |
Mali | 56.4 |
Tonga | 56 |
Kenya | 55.9 |
Yemen | 55.9 |
Moldova | 55.5 |
Senegal | 55.5 |
Greece | 55.4 |
Malawi | 55.3 |
India | 55.2 |
Nigeria | 55.1 |
Pakistan | 55.1 |
Bhutan | 55 |
Mozambique | 55 |
Seychelles | 54.9 |
Egypt | 54.8 |
Côte d'Ivoire | 54.1 |
Djibouti | 53.9 |
Niger | 53.9 |
Guyana | 53.8 |
Papua New Guinea | 53.6 |
Tajikistan | 53.4 |
Bangladesh | 52.6 |
Cameroon | 52.3 |
Mauritania | 52.3 |
Suriname | 52 |
China | 51.9 |
Guinea | 51.2 |
Guinea-Bissau | 51.1 |
Russia | 51.1 |
Vietnam | 51 |
Central African Republic | 50.4 |
Nepal | 50.4 |
Laos | 50.1 |
Micronesia | 50.1 |
Algeria | 49.6 |
Ethiopia | 49.4 |
Liberia | 49.3 |
Burundi | 49 |
Maldives | 49 |
Togo | 48.8 |
Sierra Leone | 48.3 |
Haiti | 48.1 |
Belarus | 48 |
São Tomé and PrÃncipe | 48 |
Bolivia | 47.9 |
Lesotho | 47.9 |
Comoros | 47.5 |
Angola | 47.3 |
Ecuador | 46.9 |
Argentina | 46.7 |
Ukraine | 46.3 |
Uzbekistan | 46 |
Kiribati | 45.9 |
Chad | 45.2 |
Solomon Islands | 45 |
Timor-Leste | 43.7 |
Republic of Congo | 43.5 |
Iran | 43.2 |
Turkmenistan | 42.6 |
Equatorial Guinea | 42.3 |
Democratic Republic of Congo | 39.6 |
Burma | 39.2 |
Eritrea | 36.3 |
Venezuela | 36.1 |
Zimbabwe | 28.6 |
Cuba | 28.5 |
North Korea | 1.5 |
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