The LexisNexis Rule of Law Impact Tracker demonstrates how legal systems in 102 countries worldwide determine up against 44 guideline of law signs.
Australia was rated at 10th position, scoring 80 percent on the index.
The analysis reveals Denmark has the most robust legal system, scoring 87 per cent, while Norway, Sweden, Finland, the Netherlands, New Zealand, Austria, Germany and Singapore rounded out the leading 10.
By contrast, Venezuela ranked lowest, scoring simply 32 percent on the index. Afghanistan, Zimbabwe, Cambodia and Pakistan all likewise scored listed below 40 percent, placing them at the bottom of the scale.
The tracker likewise enables users to determine the connection in between economic and social signs and guideline of law, identifying 6 crucial indicators: GDP per capita, kid mortality, veterans disability info, murder rates, levels of corruption and life expectancy.
According to an analysis by LexisNexis, a 10 per cent boost in the worldwide mean rating for guideline of law would increase GDP per capita by $7,000 per person, push child death from 24 to 16 per 1,000, reduce crime by 30 percent and increase the typical life span by more than two years.
In creating the tracker, the company made use of information from the World Bank, Transparency International and the World Justice Project, which interviewed more than 100,000 citizens and experts to develop its guideline of law rankings.
LexisNexis Legal & Professional CEO Mike Walsh stated rule of law underpins both company and civil society.
The guideline of law offers the foundation for how we live, the freedoms we have, and the degree of security that we enjoy, he stated.
International business also understand that strong guideline of law is important for working.