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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

The International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three countries with high scores and three countries with low scores. Then find estimates of GDP per person in each of these six countries. What pattern do you find? Give two possible interpretations of the pattern.

To determine

Property rights and its effect.

Explanation

The countries with high international property rights index scores include Finland, New Zealand, Luxembourg, and Norway with 2014 per capita GDPs $35,900, $30,400, $77,900 and $55,400, respectively. On the other hand, countries with low international property rights index scores (with per capital GDP 2014 in the parenthesis) include Venezuela ($13,600), Haiti ($1,300), Myanmar ($1,700), and Bangladesh ($2,100)...

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