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Reforming the Investment Climate : Lessons for Practitioners

Author

Listed:
  • Sunita Kikeri
  • Thomas Kenyon
  • Vincent Palmade

Abstract

Drawing from more than 25 case studies, this book shows that reform often requires paying as much attention to dealing with the politics and institutional dimensions as to designing policy substance. While there is no single recipe or manual for reform, the authors highlight three broad lessons. The first is to recognize and seize opportunities for reform. Crisis and new governments are important catalysts, but so is the competition generated by trade integration and new benchmarking information. The second is to invest early in the politics of reform. Public education can help gain wide acceptance for reform, while pilot programs can be valuable for demonstrating the benefits and feasibility of change. And the third is to treat implementation and monitoring as an integral part of the reform process and not merely as an afterthought. In the absence of public sector reform, reformers can draw on private sector change management techniques to revitalize institutions and put in place mechanisms to monitor and sustain reform. The book provides an emerging checklist for reformers and identifies areas for future work.

Suggested Citation

  • Sunita Kikeri & Thomas Kenyon & Vincent Palmade, 2006. "Reforming the Investment Climate : Lessons for Practitioners," World Bank Publications, The World Bank, number 7096, July.
  • Handle: RePEc:wbk:wbpubs:7096
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/7096/370940Reformin1ent0Climate01PUBLIC1.pdf?sequence=1
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    References listed on IDEAS

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    1. Indermit Gill & Claudio E. Montenegro & Dorte Domeland, 2002. "Crafting Labor Policy : Techniques and Lessons from Latin America," World Bank Publications, The World Bank, number 15245, July.
    2. Nicholas Stern & Jean-Jacques Dethier & F. Halsey Rogers, 2006. "Growth and Empowerment: Making Development Happen," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262693461, March.
    3. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
    4. Lewis, William W., 2004. "The Power of Productivity," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226476766.
    5. Arturo Galindo & Alejandro Micco, 2004. "Creditor protection and financial markets: empirical evidence and implications for Latin America," Economic Review, Federal Reserve Bank of Atlanta, issue Q 2, pages 29-37.
    6. Palmade, Vincent, 2005. "Industry level analysis : the way to identify the binding constraints to economic growth," Policy Research Working Paper Series 3551, The World Bank.
    7. Orenstein, Mitchell A., 2000. "How politics and institutions affect pension reform in three post-communist countries," Policy Research Working Paper Series 2310, The World Bank.
    8. Russell Muir & Xiaofang Shen, 2005. "Land Markets : Promoting the Private Sector by Improving Access to Land," World Bank Other Operational Studies 11203, The World Bank.
    9. Barbara Nunberg & Amanda Green, 2004. "Operationalizing Political Analysis : The Expected Utility Stakeholder Model and Governance Reforms," World Bank Other Operational Studies 11248, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. World Bank, 2009. "Increasing Formality and Productivity of Bolivian Firms," World Bank Publications, The World Bank, number 2675, July.
    2. World Bank, 2007. "Building Knowledge Economies : Advanced Strategies for Development," World Bank Publications, The World Bank, number 6853, July.
    3. World Bank, 2008. "Bolivia : Policies for Increasing Firms’ Formality and Productivity," World Bank Other Operational Studies 8003, The World Bank.
    4. Alberto Criscuolo & Vincent Palmade, 2008. "Reform Teams," World Bank Other Operational Studies 11155, The World Bank.

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