Insights
Global trends and analyses on the state of democracy
White Paper
The Compelling Case for International
September 21, 2023
Christopher Browne, CFA
Democracy Investments
Democracy Investments’ Chief Investment Officer Christopher Browne, CFA, shares new data on international stock valuation, the benefits of diversification, and highlights global trade restructuring as we see the world beginning to bifurcate along distinct lines between the West and the BRICS.
White Paper
Your Portfolio May Be Contributing To Authoritarian Aggression
March 11, 2022
Christopher Browne, CFA
Democracy Investments
Democracy Investments’ Chief Investment Officer Christopher Browne, CFA, discusses portfolio influences on foreign policy and makes the investment case for tilting toward Democracy in passive international indices.
White Paper
The Investment Argument for an International Equity Democracy-Tilted Portfolio
November 22, 2021
Christopher Browne, CFA
Democracy Investments
Democracy Investments' Chief Investment Officer lays out a case for investing in international equities while aligning with investor values of democracy.
White Paper
Democracy Investments International Index
May 06, 2021
Dr. Richard Rikoski
Democracy Investments
Democracy Investments' Chief Economist explains the capital allocation strategy to encourage economic growth in democracies, hinder economic growth in authoritarian states, and create a market-based incentive for political reform.
Analysis and Research
ARTICLE
Democracy is under threat, we must add a D to ESG
By Marcos Buscaglia, Financial Times
February 10, 2021
Democracy bonds could empower the fight for human rights.
ARTICLE
Democracy Fosters Economic Growth
By Peter Dizikes, MIT News Office
March 07, 2019
MIT researchers find vast gains in productivity after countries democratize.
ARTICLE
Democracy Does Cause Growth
By Daron Acemoglu, Suresh Naidu, Pascual Restrepo & James A. Robinson, NBER
March 01, 2014
NBER provides evidence that democracy has a significant and robust positive effect on GDP.
Reports by the Economist Intelligence Unit
Download all the Democracy Index reports here.
LATEST REPORT
Democracy Index 2023
Age of conflict
It was an inauspicious year for democracy with the average global score falling to its lowest level since the index began in 2006. Less than 8% of the world’s population live in a full democracy, while almost 40% live under authoritarian rule—a share that has been creeping up in recent years. The increasing incidence of violent conflict has badly dented the global democracy score and prevented a recovery after the pandemic years of 2020-22.
REPORT
Democracy Index 2022
Democracy in the doldrums
The average global index score stagnated in 2022. Despite expectations of a rebound after the lifting of pandemic-related restrictions, the score was almost unchanged, at 5.29 (on a 0-10 scale), compared with 5.28 in 2021. The positive effect of the restoration of individual freedoms was canceled out by negative developments globally. The scores of more than half of the countries measured by the index either stagnated or declined. Western Europe was a positive outlier, being the only region whose score returned to pre-pandemic levels.
REPORT
Democracy Index 2021
The China Challenge
Democracy around the world continues to be challenged by an active global pandemic, coups and regime changes, civil unrest, and the rise of authoritarian powers. The 2021 average global democracy score experienced the biggest annual decline since 2010, when the global financial crash led to major setbacks and set a record low since the index was first published in 2006.
REPORT
Democracy Index 2020
In sickness and in health?
Democracy was dealt a major blow in 2020. Almost 70% of countries covered by The Economist Intelligence Unit’s Democracy Index recorded a decline in their overall score, as country after country locked down to protect lives from a novel coronavirus. The global average score fell to its lowest level since the index began in 2006.
REPORT
Democracy Index 2019
A year of democratic backsliding and popular protest
Democracy Index 2019 provides a snapshot of the state of democracy worldwide for 165 independent states and two territories. From full democracy through to authoritarian regime, find out where your country ranks by downloading this free report.
REPORT
Democracy Index 2018
Political participation, protest and democracy
The latest edition of the Democracy Index reveals that despite a growing disillusionment with formal political institutions, political participation is on the rise in almost every region around the world, with the population being spurred into political action.
REPORT
Democracy Index 2017
Free speech under attack
Global democracy has declined significantly over the last year, according to the latest edition of the Democracy Index. The Democracy Index provides a snapshot of the current state of democracy worldwide. This year’s report includes a special focus on how media freedom and freedom of expression are faring in every region.
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