Tuesday, 7 October 2014
Venue: Renaissance Brussels Hotel, Ballroom, Rue du Parnasse 19, 1050 Brussels
Countries whose institutions promote economic freedom enjoy higher investment rates, more rapid economic growth, higher income levels, and a more rapid reduction in poverty rates. Open markets allow nations to specialize in the production of goods that they have a comparative advantage in, resulting in welfare gains for all involved parties. Only if property rights are secured, countries can attract foreign investment they need to diversify and develop their economies. All in all, the preservation and expansion of the liberal trade regime is necessary to ensure rising living standards in all parts of the world. Hence, monitoring the development of economic institutions and conditions worldwide is of vital importance.