1st pillar: Institutions

This indicator is a derived from the following indicators: (a) Property rights (b) Intellectual property protection (c) Diversion of public funds (d) Public trust of politicians (e) Irregular payments and bribes (f) Judicial independence (g) Favoritism in decisions of government officials (h) Wastefulness of government officials (i) Burden of government regulation (j) Efficiency of legal framework in settling disputes (k) Efficiency of legal framework in challenging regulations (l) Transparency of government policymaking (m) Business costs of terrorism (n) Business costs of crime and violence (o) Organized crime (p) Reliability of police services (q) Ethical behavior of firms (r) Strength of auditing and reporting standards (s) Efficacy of corporate boards (t) Protection of minority shareholders interests and (u) Strength of investor protection.