NZ high on global prosperity list

New Zealand has been ranked fifth on an international scale of the prosperity, with its education system rating as the best in the world.

The ratings have been published by Britain's Legatum Institute which has been attempting to produce different kinds of indices to mainstream economic scales.

Its Prosperity Index ranks 110 nations, and includes both material wealth and quality of life.

Norway headed the index, followed by Denmark, Finland, Australia and New Zealand.

The indices said New Zealand rated only 19th in the health rankings and 17th in economic.

It was first in education and third in ranks of personal freedom and social capital. It was fourth in governance and seventh in safety and security. It was 14th in entrepreneurship and opportunity.

New Zealand would have been higher than Australia had it not been for Australia's much stronger economy.

On the overall scale, the US was 10th, Britain 13th, Japan 18th , China 58th and India 88th.

At the other end of the scale, Zimbabwe came in at the bottom. Pakistan was second to last and the Central African Republic third to last.

No Pacific country is listed because Legatum said there was insufficient data on them.

It said their research showed a falling away among developed countries for scores on the economy.

"The data shows that public confidence in financial institutions is declining," the institute says.

- © Fairfax NZ News