Enderezar la reforma

La mayoría de los economistas convienen ahora en que la calidad institucional constituye la clave para la prosperidad. Los países ricos son lugares en los que los inversores se sienten seguros de sus derechos de propiedad, prevalece el Estado de derecho, los incentivos privados se combinan con los objetivos sociales, las políticas fiscal y monetaria tienen fundamentos sólidos, existe una seguridad social para paliar los riesgos y los ciudadanos disponen de libertades civiles y representación política. Los países pobres son aquellos en que esas disposiciones son inexistentes o deficientes.

Compárense Rusia y China. En Rusia, un inversor cuenta en principio con la protección plena de un régimen de derechos de propiedad privada cuyo cumplimiento impone un poder judicial independiente. En China no existe semejante protección, porque hasta época reciente la propiedad privada no estaba legalmente reconocida y el sistema judicial no es independiente.

Y, sin embargo, durante el período comprendido entre mediados y finales del decenio de 1990, los inversores dieron calificaciones mejores a China que a Rusia en materia de Estado de derecho. Que los inversores se sintieran, evidentemente, mejor protegidos en China que en Rusia tal vez no sorprenda a quien haya observado la evolución del sistema jurídico de Rusia durante el último decenio, pero lo importante es el desfase entre las normas y la impresión que de ellas se tiene.

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