Question: Which of the following options represents the first three ranked countries in crony-capitalism index?
(a) Thailand, Brazil, United Kingdom
(b) Russia, Malaysia, Philippines
(c) Ukraine, Mexico, Indonesia
(d) China, Japan, South Korea
Ans:(b)
Related facts:
- On 8 May 2016 Crony-Capitalism index was released by “The Economist”.
- Total 22 countries are ranked in the index.
- The countries are ranked on the basis percentage achieved from the ratio of billionaire wealth to GDP in their own countries; higher ratio of billionaire wealth to GDP indicates higher possibility of suffering from crony capitalism.
- Russia topped the list and followed by Malaysia, the Philippines and Singapore.
- India is ranked at ninth position in crony-capitalism index, accounting for 3.4 percent of the gross domestic product (GDP).
- The last three places are occupied by Germany (22nd), Poland (21st) and South Korea (20th) respectively.
- India’s neighbouring country China ranked 11th in the Index.
- “The Economist” newspaper designed this new measurement of crony capitalism.
- It was based on the work by Ruchir Sharma of Morgan Stanley Investment Management, Aditi Gandhi and Michael Walton of Centre for Policy Research of New Delhi, and others.
- The Economist composed the index by consulting Forbes’s list of the world’s billionaires.
- The worth of billionaires in crony industries Worldwide is soared by 385 per cent between 2004 and 2014 to 2 US dollars trillion.
- Crony wealth in 2016 has fallen by 116 billion US dollars since 2014 among the 22 economies in the index.
- The first crony capitalism Index was released in 2014.
Reference:
http://www.economist.com/news/international/21698239-across-world-politically-connected-tycoons-are-feeling-squeeze-party-winds
http://articles.economictimes.indiatimes.com/2016-05-08/news/72932518_1_crony-capitalism-wealth-commodity-prices
http://www.forbes.com/forbes/welcome/#47cff6087e48
http://www.economist.com/blogs/graphicdetail/2016/05/daily-chart-2