Addressing Regulatory Software Barriers to Business Growth

This policy paper explores the relative importance of the software regulatory barriers to growth in Pakistan. Such software barriers have been identified as part of the major constraint in the Framework for Economic Growth of the Government of Pakistan. Indeed, adequate software is needed to provide an environment in which the hardware of growth (physical infrastructure) could be expanded and made more productive. Among possible software constraints, the findings of various international surveys allow to disentangle the relative importance of multiple possible regulatory barriers; first by identifying what is in the books, and then by assessing what is actually experienced on the ground by entrepreneurs. Following the ensuing prioritization of the identified barriers, this paper suggests that the new growth strategy would benefit from focused policy efforts in seven key areas, where regulatory barriers and perceived obstacles are most constraining to business development: getting electricity, paying taxes, enforcing contracts, registering property, obtaining construction permits, starting a business, trading across barriers, and having access to finance (particularly among small firms). The paper also expounds a detailed description of the provincial disaggregation of those barriers, which attempt to complement the general findings and allow for provincially-led customized solutions.

Bibliographic Details

Main Authors:	Kularatne, Chandana, Lopez-Calix, Jose
Language:	English en_US
Published:	World Bank, Washington, DC 2012-12
Subjects:	ACCESS TO FINANCE, ACCESSIBILITY, ACCOUNTING, ADMINISTRATIVE BURDEN, ADMINISTRATIVE COST, AGRICULTURAL PRODUCTS, APPROVAL PROCESS, BANK FINANCING, BANK POLICY, BANKRUPTCY, BANKRUPTCY LAWS, BANKS, BARRIERS TO BUSINESS GROWTH, BARRIERS TO ENTRY, BARRIERS TO GROWTH, BINDING CONSTRAINT, BRANCHES, BRIBES, BUSINESS DEVELOPMENT, BUSINESS ENTERPRISE, BUSINESS ENVIRONMENT, BUSINESS INCORPORATION, BUSINESS STARTUP, CAPITAL VALUE, CASH FLOW, COAL, COLLATERAL, COLLATERAL LAWS, COLLATERAL REQUIREMENTS, COMPANY, COMPETITORS, COMPLIANCE COST, CONTRACT ENFORCEMENT, CORPORATION, CORRUPTION, CREDIT INFORMATION, CREDIT REGISTRIES, CREDIT REGISTRY, DEED, DOCUMENTATION REQUIREMENTS, DOMESTIC MARKET, DOMESTIC MARKETS, E-GOVERNMENT, ECONOMIC ACTIVITY, ECONOMIC COOPERATION, ECONOMIC GROWTH, EDUCATION LEVEL, EDUCATIONAL ATTAINMENT, EMPLOYEE, EMPLOYMENT, EMPLOYMENT GROWTH, ENFORCEMENT OF CONTRACT, ENFORCEMENT OF CONTRACTS, ENTREPRENEUR, ENTREPRENEURS, ENTREPRENEURSHIP, EQUIPMENT, EXCHANGE COMMISSION, EXPANSION, FACILITATION, FEDERAL TAX, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL INTERMEDIARIES, FINANCIAL STATEMENT, FINANCIAL STRESS, FIRM PERFORMANCE, FIRM SIZE, FIRM SIZES, FIXED ASSETS, FLAT FEE, FOREIGN MARKET, FOREIGN MARKETS, GOVERNANCE ISSUES, GOVERNMENT INVOLVEMENT, HANDICRAFTS, HOLDING, HUMAN RESOURCES, IMMOVABLE PROPERTY, INCOME TAX, INFORMAL ECONOMY, INFORMATION ASYMMETRY, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE INVESTMENTS, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL MARKETS, INVESTMENT CLIMATE, JOINT VENTURES, JUDICIAL INSTITUTIONS, JUDICIAL SYSTEM, LABOR MARKET, LABOR PRODUCTIVITY, LAND AS COLLATERAL, LAND RECORDS, LAND REGISTRATION, LEGAL RIGHTS, LENDERS, LETTER OF CREDIT, LICENSING, LIMITED ACCESS, LIMITED LIABILITY, LINE OF CREDIT, LIQUIDITY, LOAN, LOAN AMOUNTS, LOAN SIZE, LOCAL MARKET, MACROECONOMIC STABILITY, MANUFACTURING ENTERPRISES, MANUFACTURING ESTABLISHMENTS, MARKET DEVELOPMENT, MARKET INFORMATION, MARKET STRUCTURE, MEDIUM ENTERPRISES, MOVABLE GOODS, NEW BUSINESSES, OPERATING COSTS, OVERDRAFT, OVERDRAFT FACILITY, PAYMENT SYSTEMS, POTENTIAL INVESTORS, PRIVATE CREDIT, PRIVATE CREDIT BUREAU, PRIVATE CREDIT BUREAUS, PRIVATE SECTOR DEVELOPMENT, PRODUCTION COSTS, PROFITABILITY, PROPERTY RIGHTS, PROPERTY TAX, PROTECTION OF INVESTORS, PUBLIC CREDIT, PUBLIC POLICY, PUBLIC SALE, QUALITY STANDARDS, REGISTRATION FEE, REGISTRATION PROCESS, REGISTRATION REQUIREMENTS, REGULATORY BARRIERS, REGULATORY BURDEN, REGULATORY BURDENS, REGULATORY FRAMEWORK, REGULATORY REFORMS, RESERVE, RETAINED EARNINGS, RETURN, ROAD INFRASTRUCTURE, SAVINGS, SAVINGS ACCOUNT, SEES, SHAREHOLDER, SMALL FIRM, SMALL FIRMS, SOCIAL SECURITY, STAMP DUTY, STAMP DUTY RATES, TARIFF POLICY, TAX, TAX BURDEN, TAX LEGISLATION, TAX POLICY, TAX RATE, TAX RATES, TAX REGIME, TAX SYSTEM, TAXATION, TELEPHONE LINE, TRADING, TRANSACTION, TRANSACTION COSTS, TURNOVER, UNEMPLOYMENT, VALUE OF COLLATERAL, WAREHOUSE, WORKING CAPITAL,
Online Access:	http://documents.worldbank.org/curated/en/2012/12/19305726/addressing-regulatory-software-barriers-business-growth https://hdl.handle.net/10986/17876
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