The Doing Business Indicators, Economic Growth and Regulatory Reform

The Doing Business Indicators, Economic Growth and Regulatory Reform

Improving the investment climate is among the top priorities in development. The World Bank Group's Doing Business reports have become an important guide and benchmark to inform regulatory reforms aimed at unleashing the potential of the private sector. This paper discusses the potential role of the Doing Business Indicators in the reform process. Generally, the Doing Business studies are constrained in their prescriptive power for policy making. However, governments that nonetheless choose to use the Doing Business reports for guidance in the reform process can aim to improve their Doing Business ranking to enhance the visibility of their general reform efforts; or they can aim at maximizing the impact of reform on economic growth. In this case, the evidence suggests that focusing on indicators relating to credit and the enforcement of contracts is the most important. Indicators related to cost have the largest potential for fostering growth.

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Bibliographic Details
Main Author: Hanusch, Marek
Language:English
en_US
Published: World Bank, Washington, DC 2012-08
Subjects:ACCOUNT, AGGREGATE ANALYSIS, AVAILABILITY OF DATA, BUSINESS CLIMATE, BUSINESS COMMUNITY, BUSINESS ECONOMICS, BUSINESS ENVIRONMENT, BUSINESS ENVIRONMENTS, BUSINESS FUNCTIONS, BUSINESS INDICATOR, BUSINESS INDICATORS, BUSINESS OPERATION, BUSINESS OPPORTUNITIES, BUSINESS REGULATION, BUSINESS REGULATIONS, BUSINESSES, COMPARATIVE ADVANTAGE, CUSTOMS, DATA COVERAGE, DEBT, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ELECTRICITY, EMPIRICAL ANALYSIS, EMPIRICAL EVIDENCE, ENABLING ENVIRONMENT, ENTERPRISE SURVEYS, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTMENT, IMAGE, INDUSTRIAL DEVELOPMENT, INSTITUTIONAL FRAMEWORK, INTERNATIONAL TRADE, JOINT VENTURES, LEGAL ISSUES, LEGAL PROTECTION, LICENSE, LICENSE FEES, LICENSES, OPEN ACCESS, PERFORMANCE INDICATORS, POLITICAL ECONOMY, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRODUCTIVITY, REGISTRY, REGULATORY ENVIRONMENT, REGULATORY ENVIRONMENTS, REGULATORY FRAMEWORK, REGULATORY REQUIREMENTS, REGULATORY SYSTEM, REGULATORY SYSTEMS, RESULT, RESULTS, SEARCH, TAX RATES, TIME PERIOD, TRANSNATIONAL CORPORATIONS, WEB,
Online Access:http://documents.worldbank.org/curated/en/2012/08/16620356/doing-business-indicators-economic-growth-regulatory-reform
https://hdl.handle.net/10986/12020
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Summary:Improving the investment climate is among the top priorities in development. The World Bank Group's Doing Business reports have become an important guide and benchmark to inform regulatory reforms aimed at unleashing the potential of the private sector. This paper discusses the potential role of the Doing Business Indicators in the reform process. Generally, the Doing Business studies are constrained in their prescriptive power for policy making. However, governments that nonetheless choose to use the Doing Business reports for guidance in the reform process can aim to improve their Doing Business ranking to enhance the visibility of their general reform efforts; or they can aim at maximizing the impact of reform on economic growth. In this case, the evidence suggests that focusing on indicators relating to credit and the enforcement of contracts is the most important. Indicators related to cost have the largest potential for fostering growth.

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