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Market Economy Status, Bertelsmann Stiftung’s Transformation Index (BTI), 2018

Important usage condition: Use and redistribution are governed by CC BY-SA 4.0. Review and comply with the license before using the data.
Persistent identifier
doi:10.60507/FK2/JGR46P
Published version
1.0
Publication date
2023-09-18
License
CC BY-SA 4.0

Description

Market Economy Status index is calculated taking account indicators like Level of Socioeconomic Development, Organization of the Market and Competition, Currency and Price Stability, Private Property, welfare regime, economic performance and sustainability. Market Economy Status index is one of indicators contributing for Bertelsmann Stiftung’s Transformation Index (BTI). The short description of Bertelsmann Stiftung’s Transformation Index (BTI)is given below :- Advocating reforms aimed at supporting the development of a constitutional democracy and a socially responsible market economy, the BTI provides the framework for an exchange of good practices among agents of reform. The BTI publishes two rankings, the Status Index and the Management Index, both of which are based on in-depth assessments of 129 countries. The Status Index ranks the countries according to the state of their democracy and market economy, while the Management Index ranks them according to their respective leadership’s management performance. Distributed among the dimensions of democracy, market economy and management, a total of 17 criteria are subdivided into 49 questions. BTI countries are selected according to the following criteria: They have yet to achieve a fully consolidated democracy and market economy, have populations of more than two million (excepting seven states chosen as particularly interesting cases), and are recognized as sovereign states. Quality/Lineage: The data is downloaded from the above link https://www.bti-project.org/en/data/ and manipulated only table format keeping the value same for all the countries as the requirement of the Strive database. The map is created based on the values of the country using rworldmap package in R.

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Keywords

market economy status, worldwide governance indicator, transformation, society

Files

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Citation

Amit Kumar Basukala, 2023-09-18, Market Economy Status, Bertelsmann Stiftung’s Transformation Index (BTI), 2018, doi:10.60507/FK2/JGR46P, V1.0

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