Democracy, Business Integrity, and Economic Freedom
For businesses to thrive and contribute to economic and social development, a fair and transparent economic environment is essential. Democracy and business integrity play a pivotal role in shaping such conditions.
The European Chamber has analysed the correlation between democracy and corruption across Europe, using data from The Economist Intelligence Unit and Transparency International.
Nordic countries are leading in both areas.
The graph illustrates the relationship between corruption perception and democracy throughout Europe, revealing an interesting picture for businesses: distinct contrasts between nations with varying levels of democratic governance.
Nordic and Western European countries showcase strong democratic traditions alongside notably low corruption perception rates. Conversely, Eastern European nations display much higher levels of perceived corruption, indicating deeper systemic governance challenges.
The data suggests a division within Europe: Western Europe is marked by robust democratic values and lower corruption perception, while Eastern Europe faces higher political turmoil and governance difficulties.
This division leads to significant disparities in social unity and economic success between regions. These findings may emphasise the need for reforms in Eastern Europe to improve transparency and accountability in governance, vital for nurturing democracy and curbing corruption.
Tackling these inequalities is essential for fostering a more cohesive and stable European environment for businesses.
Complete datasets and rankings available at www.eucham.info