Yahoo Finance 20 Most Democratic Countries in Asia
In this article, we look at the 20 most democratic countries in Asia. You can skip our detailed analysis on global corporations that promote democracy and head over directly to the 5 Most Democratic Countries in Asia.
The question of whether democracy leads to economic growth continues to remain a talking point as China advances on the world stage after its spectacular rise over the last few decades, coupled with oil-rich monarchies of the Gulf Cooperation Council exhibiting high levels of economic prosperity. On the other hand, India’s economy also continues to thrive, despite right-wing populism polarizing the country.
However, a research in 2016 co-authored by professors at MIT, Harvard, and Columbia found that democratization leads to economic growth. The study examined several countries that transitioned to democracy between 1960 and 2010, and the results showed that these countries experienced a 20% increase in their GDP in the first 25 years following their shift to democracy from nondemocracy.
Several large multinational corporations have recently committed themselves to advancing democratic values across the world. Last year, Alphabet Inc. (NASDAQ:GOOG) at the White House’s Summit for Democracy pledged support of up to $2 million for human rights defenders, who regularly face online harassment and physical threats over their commitment to uphold freedom of speech. Alphabet Inc. (NASDAQ:GOOG) will be allocating these funds to set up safety helplines for vulnerable individuals. Moreover, Alphabet Inc. (NASDAQ:GOOG) has also announced plans to roll out over 100,000 Titan security keys to high-risk users, such as journalists and activists to protect them from online cyber attacks.
On the other hand, Cloudflare, Inc. (NYSE:NET) works with researchers on sharing data related to internet closures in different parts of the world. The company is connected to more than 11,000 networks worldwide, and collaborates with organizations such as Access Now and the Internet Society to keep track of internet shutdowns. Cloudflare, Inc. (NYSE:NET) regularly consults members of the civil society as well to make sure that all product developments and technologies enhance privacy and are consistent with protecting human rights.
In 2020, Cloudflare, Inc. (NYSE:NET) partnered with the International Foundation for Electoral Systems (IFES) to widen its protection systems to ensure free and fair elections outside the United States as well. As part of the agreement, the company has since then provided services to six electoral bodies outside the US, including in Canada, North Macedonia, and Kosovo.
Microsoft Corporation (NASDAQ:MSFT) in collaboration with the International Foundation for Electoral Systems (IFES) trains journalists on digital safety and cybersecurity, with an emphasis on how governments abuse state power to steal elections. The program started in October 2022 in Tunisia, before expanding to Serbia later during the same year. 29 journalists benefited from this joint initiative of Microsoft Corporation (NASDAQ:MSFT) and IFES in these two countries. According to the IFES, the training program has received high demand from several other countries as well, and it plans on expanding this to those regions in the near future in partnership with Microsoft Corporation (NASDAQ:MSFT).
Copyright: yunlutas / 123RF Stock Photo
Methodology
The 20 most democratic countries in Asia are ranked based on averaging countries’ rankings on the Economist Intelligence Unit (EIU)’s Democracy Index 2023 and V-dem Institute’s Democracy Report 2024. Asia’s most democratic countries are listed in ascending order of their average ranking scores.
Before we get started, it is important to mention that the state of democracy in Asia continues to regress. Only three Asian countries qualified as ‘full democracies’ in the EIU’s latest index, with most others being categorized as flawed democracies, hybrid regimes, and authoritarian regimes. There were also countries in the continent that practiced democracy on paper, but were considered authoritarian due to their extreme violations and erosion of democratic freedoms and values.
If interested, you can also take a look at the Top 15 Democratic Socialist Countries In Europe.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Let’s now head over to the list of the most democratic countries in Asia.
20. Turkiye
Average Ranking: 121
We begin our list with Turkiye, which is categorized as a hybrid regime by the Economist Intelligence Unit and has been criticized for its lack of civil liberties. Despite that, it remains a vibrant democracy with hope for improvement in the future; a glimpse of which was witnessed in the opposition’s stunning victories in Istanbul and Ankara in this week’s local elections.
19. Pakistan
Average Ranking: 118.5
Pakistan is the fifth largest democracy in the world, but has seen its ranking suffer heavily in the last two years, due an increase in military interference in the running of the country. It was ranked 118th on the Economist Intelligence Unit’s Democracy Index 2023 and took 119th spot on V-Dem’s 2024 Democracy Report.
18. Hong Kong
Average Ranking: 111
Hong Kong has been described as a hybrid regime by The Economist, ranking the special administrative region of China on 88th spot in its Democracy Index. It is ranked 134th in V-Dem’s Democracy Index. Beijing’s tightening grip over Hong Kong over the last few years have dimmed hopes about the region becoming a full democracy.
17. Bangladesh
Average Ranking: 110.5
Bangladesh’s democratic credentials have been taking a hit since the last few years, as the current ruling party led by PM Hasina Wajid continues to strengthen its hold over the country by crushing the opposition. The US State Department recently expressed concerns over the fairness of elections held in the country earlier this year.
16. Thailand
Average Ranking: 89
Since the initiation of Thailand’s constitutional era in 1932, it has been ruled by serving and retired military officers for more than six decades, with elected prime ministers seeing only 25 years of rule. The country dropped 8 ranking spots in EIU’s latest index, from 55th in 2022 to 63rd in 2023. It is ranked 115th on V-Dem’s 2024 Democracy Report. There is a long way to go for Thailand to improve its democracy rankings.
15. Singapore
Average Ranking: 81.5
Next on our list of the most democratic countries in Asia is Singapore, which has been ranked 69th and categorized as a flawed democracy by the Economist Intelligence Unit, while it took 94th spot in V-Dem’s democracy report. Singapore has a parliamentary form of government, led by the prime minister and his cabinet.
14. Armenia
Average Ranking: 81
The loss of the Nagorno-Karabakh region to Azerbaijan led to a complete collapse of support for the political government in Armenia, which resulted in it dropping two positions in the Economist Intelligence Unit’s rankings. Despite that, Armenia is the most democratic country in the Caucasus, and among the most democratic countries in Asia.
13. Philippines
Average Ranking: 77.5
The Philippines is one of Asia’s oldest and vibrant democracies, with a presidential form of government where the public elect their head of state. The countries’ democracy has been widely acclaimed for its electoral processes, political participation, and civil liberties. Efficient functioning of the government is an area the Philippines lacks at, according to the EIU and V-Dem.
12. Nepal
Average Ranking: 77
2023 was a good year for Nepal’s democracy as it climbed three positions on EIU’s index, and also showed improvement on all democratic indicators considered by V-Dem in its democracy report. Nepal abolished monarchy in 2008, and has a representative, multi-party democracy.
11. Bhutan
Average Ranking: 76
Despite being new to democracy, Bhutan is among the most democratic countries in Asia. The country had its first ever parliamentary elections in 2008, and recently concluded its fourth general elections in December last year, with an impressive turnout of 63%.
10. Sri Lanka
Average Ranking: 74.5
Sri Lanka’s democracy has suffered a setback with the 2022 political and economic crisis, which resulted in the collapse of the government led by the Rajapaksa brothers. The country is still in the process of recovering from the crisis. It was ranked 70th by the EIU and 79th by V-Dem in their democracy indices.
9. India
Average Ranking: 72.5
India is the largest democracy in the world, with about 969 million voters set to cast their vote in the upcoming general elections starting this month. Despite the rise of right-wing populism in India, the country remains a robust democracy and has introduced electronic voting machines to enhance polling transparency and election fairness.
8. Indonesia
Average Ranking: 71.5
Indonesia is the third largest democracy in the world. The country was ranked 56th and categorized as a flawed democracy by the EIU in its 2023 Democracy Index, dropping two positions compared to the previous year. It was listed 87th on V-Dem’s 2024 Democracy Report.
7. Mongolia
Average Ranking: 70
Next on our list of the most democratic countries in Asia is Mongolia, which has climbed seven positions on the EIU’s index to rank 59 this year, while it was ranked 81st in V-Dem’s democracy report. According to the EIU, the country fares well when it comes to electoral process and civil liberties, but there are areas of improvement when it comes to functioning of government.
6. Malaysia
Average Ranking: 65
Malaysia is one of the most vibrant democracies in Asia, known for its transparent electoral process and strong governance. It ranks sixth on our list of the most democratic countries in Asia. The country practices a parliamentary form of government headed by the prime minister.
Click to continue reading and see the 5 Most Democratic Countries in Asia.
Suggested Articles:
Disclosure: None. 20 Most Democratic Countries in Asia is originally published on Insider Monkey.
