Colombia: Regulatory quality
* indicates monthly or quarterly data series
| Colombia |
Regulatory quality index (-2.5 weak; 2.5 strong) |
|---|---|
| Latest value | 0.10 |
| Year | 2023 |
| Measure | points |
| Data availability | 1996 - 2023 |
| Average | 0.16 |
| Min - Max | -0.17 - 0.44 |
| Source | The World Bank |
The latest value from 2023 is 0.1 points, a decline from 0.14 points in 2022. In comparison, the world average is -0.03 points, based on data from 193 countries. Historically, the average for Colombia from 1996 to 2023 is 0.16 points. The minimum value, -0.17 points, was reached in 1998 while the maximum of 0.44 points was recorded in 2014.
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Definition: The index of Regulatory Quality captures perceptions of the ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Rule of law | -0.46 | 2023 | points |
| Government effectiveness | -0.08 | 2023 | points |
| Control of corruption | -0.31 | 2023 | points |
| Regulatory quality | 0.10 | 2023 | points |
| Voice and accountability | 0.21 | 2023 | points |
| Political stability | -0.72 | 2023 | points |
| Corruption perceptions - Transparency International | 40 | 2023 | points |
| Political rights | 2 | 2024 | points |
| Civil liberties | 3 | 2024 | points |
| Competitiveness | 62.70 | 2019 | points |
| Cost of starting a business | 14.10 | 2019 | percent of per capita GNI |
| Shadow economy | 25.25 | 2015 | percent |
| Informal economy, MIMIC method | 36.70 | 2020 | percent |
| Informal economy, DGE method | 28.70 | 2020 | percent |