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EMBARGOED: Not for newswire transmission, posting on websites, or any other media use until October 25, 2016, 12pm EDT (4pm GMT) 24 DOING BUSINESS 2017 received. The average number of contributions per indicator set and economy is more than seven. For more details, see http://www .doingbusiness.org/contributors /doing-business. 9. The focus of the Doing Business indicators remains the regulatory regime faced by domestic firms engaging in economic activity in the largest business city of an economy. Doing Business was not initially designed to inform decisions by foreign investors, though investors may in practice find the data useful as a proxy for the quality of the national investment climate. Analysis done in the World Bank Group’s Global Indicators Group has shown that countries that have sensible rules for domestic economic activity also tend to have good rules for the activities of foreign subsidiaries engaged in the local economy. 10. These are reforms for which Doing Business is aware that information provided by Doing Business was used in shaping the reform agenda. 11. The papers cited here are just a few examples of research done in the areas measured by Doing Business. Since 2003, when the Doing Business report was first published, 2,182 research articles discussing how regulation in the areas measured by Doing Business influences economic outcomes have been published in peer-reviewed academic journals. Another 6,296 working papers have been posted online. 12. Bruhn 2011. 13. Bruhn 2013. 14. Branstetter and others 2013. 15. Portugal-Perez and Wilson 2011. 16. Freund and Rocha 2011. 17. Djankov, Freund and Pham 2010. 18. Martincus, Carballo and Graziano 2015. 19. Freund and Bolaky 2008. 20. Amiti and Khandelwal 2011. 21. Corcoran and Gillanders 2015. 22. Munemo 2014. 23. Norbäck, Persson and Douhan 2014. 24. Giné and Love 2010. 25. Love, Martinez-Peria and Singh 2013. 26. Visaria 2009. 27. Beck, Lin and Ma 2014. 28. Claessens, Ueda and Yafeh 2014. 29. Monteiro and Assunção 2012. 30. Lawless 2013. 31. Kawaguchi and Murao 2014. 32. Montenegro and Pagés 2003. 33. The 17 indexes are: the Millennium Challenge Corporation’s Open Data Catalog; the Heritage Foundation’s Index of Economic Freedom (IEF); the World Economic Forum’s Global Competitiveness Index (GCI), Networked Readiness Index (NRI, jointly with INSEAD), Human Capital Index (HCI), Enabling Trade Index (ETI) and Travel and Tourism Competitiveness Index (TTCI); INSEAD’s Global Talent Competitiveness Index (GTCI) and Global Innovation Index (GII, jointly with Cornell University and the World Intellectual Property Organization); Fraser Institute’s Economic Freedom of the World (EFW); KPMG’s Change Readiness Index (CRI); Citi and Imperial College London’s Digital Money Index; International Institute for Management Development’s World Competitiveness Yearbook; DHL’s Global Connectedness Index (GCI); PricewaterhouseCoopers’ Paying Taxes 2016: The Global Picture; and Legatum Institute’s Legatum Prosperity Index. 34. For more on the Heritage Foundation’s Index of Economic Freedom, see the website at http://heritage.org/index.
EMBARGOED: Not for newswire transmission, posting on websites, or any other media use until October 25, 2016, 12pm EDT (4pm GMT) Doing Business 2017 Reforming the Business Environment in 2015/16 Efficient business regulation leads to greater market entry, job creation, higher productivity and improved levels of overall economic development. 1 Even though the scope of the Doing Business indicators is limited by necessity, there is well-established evidence that moving from the lowest quartile of improvement in business regulation to the highest quartile is associated with significant increases in annual economic growth per capita. 2 A large body of literature indicates that the simplification of business entry regulation results in higher numbers of new businesses and an increased rate of employment. 3 Research covering 172 economies in the period from 2006 to 2010 shows that each additional business regulatory reform is associated with an average increase of 0.15% in economic growth. Indeed, business regulatory reforms might have helped to mitigate the effects of the 2008 global financial crisis since economies that undertook more reforms experienced higher economic growth rates. 4 Regulation is necessary to maintain efficient, safe and orderly societies. Doing Business focuses on the development of streamlined, necessary and competent regulatory practices that facilitate private sector development rather than create unnecessary bureaucratic obstacles and opportunities for rent seeking. Doing Business advocates adherence to established good practices like free access to information, transparency of fees and the use of online services. Since the publication of the first Doing Business report, governments around the world have implemented over 2,900 reforms striving to align domestic business regulation with the good practices advocated by Doing Business. Many governments use Doing Business indicator sets to formulate and monitor their reform efforts. The Indian government, for example, has committed to improving its Doing Business ranking by steadily implementing reforms across all indicators (box 3.1). 5 In Japan the government aims to improve the economy’s Doing Business ranking from 19 (among 31 OECD high-income economies) to the top three. To achieve this goal, Haidar and Hoshi (2015) outlined 31 reform recommendations classified into six different categories depending on whether the reform was administrative or legal and on the level of potential political resistance. 6 Proposed administrative changes with low political resistance include the electronic submission and processing of export and import documents, fast-track procedures for property transfers and the consolidation of bureaucratic processes at the Legal Affairs Office. Administrative changes with medium political resistance focus on the reduction of the number of procedures to obtain a construction permit, development of specialized commercial courts and expansion of case management systems. An administrative change that will most likely face high political resistance is the introduction of performance measures for judges due to the division of power between the legal system, the government and the business environment. 7 • In the year ending June 1, 2016, 137 economies implemented 283 total reforms across the different areas measured by Doing Business, an increase of over 20% from last year. • Doing Business has recorded more than 2,900 regulatory reforms making it easier to do business since 2004. • The economies showing the most notable improvement in performance on the Doing Business indicators in 2015/16 were Brunei Darussalam, Kazakhstan, Kenya, Belarus and Indonesia. • Reforms inspired by Doing Business have been implemented by economies in all regions. But Europe and Central Asia continues to be the region with the highest share of economies implementing at least one reform—96% of economies in the region have implemented at least one business regulatory reform. • Starting a business continues to be the most common reform area with 49 reforms, followed by paying taxes with 46. • Increasingly, the competitiveness of cities is seen as an important driver of job creation and economic growth. By focusing on cities, subnational Doing Business studies contribute to the improvement of their competitiveness, providing information to policy makers on how to reform the business regulatory environment.
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