July 23, 2019
There is a close relationship between economic activity and institutions, governance, and the rule of law. Without the timely and nondiscriminatory enforcement of laws and regulations, commercial activities become more informal and less predictable and, ultimately, come at a higher cost to consumers and parties to the transaction. Simply put, business is less effective, less efficient, and less predictable without the rule of law.
Since 2013, the U.S. Chamber of Commerce and its Coalition for the Rule of Law in Global Markets has used the Global Business Rule of Law Dashboard (the Dashboard) to bring more attention to the rule of law environment as it relates to business. The Dashboard offers the business community, governments, policymakers, and stakeholders across the world an innovative and empirical tool to understand the particular needs of the business community. The Dashboard answers the following questions: How is the rule of law measured internationally? How do rule of law issues affect private sector operations? And what implications does the state of a nation’s rule of law have for its economic vibrancy?
The 2019 edition of the Dashboard builds on the work of three previous editions. The number of economies sampled has increased significantly over the course of the past six years, with the Dashboard now encompassing 90 economies.