The effects of business environments on development : surveying new firm-level evidence, Vol. 1 of 1

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The effects of business environments on development : surveying new firm-level evidence

Author:	Xu, Lixin Colin;	Collection Title:	Policy Research working paper ; no. WPS 5402
Country:	World;	Date Stored:	2010/08/24
Document Date:	2010/08/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	The World Region
Report Number:	WPS5402	SubTopics:	Environmental Economics & Policies; Access to Finance; Emerging Markets; Debt Markets; Labor Policies
Volume No:	1 of 1

Summary: In the past decade, the World Bank has promoted improving business environments as a key strategy for development, which has resulted in a significant amount of investment in collecting firm-level investment climate surveys across countries. What lessons have emerged from the papers using these new data? The key finding is that the effects of business environments are heterogeneous and depend crucially on industry, initial conditions, and complementary institutions. Some elements of the business environment, such as labor flexibility, low entry and exit barriers, and a reasonable protection from the "grabbing hands" of the government, seem to matter a great deal for most economies. Other elements, such as infrastructure and contracting institutions (courts and access to finance), hinge on their initial status and the size of the market.


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