How "Doing Business" jeopardizes institutional reform
Simplifying business formalization and eliminating outdated formalities is often a good way of improving the institutional environment for firms. Unfortunately, the World Bank’s "Doing Business" project is harming such policies by promoting a reform agenda that gives them priority even in countries lacking functional business registers, so that the reformed registers keep producing valueless information, but faster. Its methodology also promotes biased measurements that impede proper consideration of the essential tradeoffs in the design of formalization institutions. If "Doing Business" is to stop jeopardizing its true objectives and contribute positively to scientific progress, institutional reform and economic development, then its aims, governance and methodology need to change.
References listed on IDEAS
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- Claude Ménard & Bertrand Du Marais, 2006.
"Can we rank legal systems according to their economic efficiency?,"
- Claude Ménard & Bertrand Du Marais, 2008. "Can we rank legal systems according to their economic efficiency?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00273827, HAL.
- Benito Arruñada, 2007. "Market and institutional determinants in the regulation of conveyancers," European Journal of Law and Economics, Springer, vol. 23(2), pages 93-116, April.
- Benito Arruñada, 2007. "Market and institutional determinants in the regulation of conveyancers," Economics Working Papers 1034, Department of Economics and Business, Universitat Pompeu Fabra.
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