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[SIZE=6]Ease of doing business index[/SIZE]
The ease of doing business index is an index created by the World Bank Group.[1] Higher rankings (a low numerical value) indicate better, usually simpler, regulations for businesses and stronger protections of property rights.
“Empirical research is needed to establish the optimal level of business regulation—for example, what the duration of court procedures should be and what the optimal degree of social protection is. The indicators compiled in the Doing Business project allow such research to take place. Since the start of the project in November 2001, more than 800 academic papers have used one or more indicators constructed in Doing Business and the related background papers by its authors.”[3]
https://upload.wikimedia.org/wikipedia/commons/thumb/6/6a/Doing_business_2017.svg/600px-Doing_business_2017.svg.png
Choropleth map of the World Bank’s Doing Business index from “Doing Business 2017”
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Methodology[/SIZE]
The report is above all, a benchmark study of regulation. The survey consists of a questionnaire designed by the Doing Business team with the assistance of academic advisers. The questionnaire centers on a simple business case that ensures comparability across economies and over time. The survey also bases assumptions on the legal form of the business, size, location, and nature of its operations.[4] The ease of doing business index is meant to measure regulations directly affecting businesses and does not directly measure more general conditions such as a nation’s proximity to large markets, quality of infrastructure, inflation, or crime.
The next step of gathering data surveys of over 12,500 expert contributors (lawyers, accountants etc.) in 190 countries who deal with business regulations in their day-to-day work. These individuals interact with theDoing Business team in conference calls, written correspondence and visits by the global team. For the 2017 report, team members visited 34 economies to verify data and to recruit respondents. Data from the survey is subjected to several rounds of verification. The surveys are not a statistical sample, and the results are interpreted and cross-checked for consistency before being included in the report. Results are also validated with the relevant government before publication. Respondents fill out written surveys and provide references to the relevant laws, regulations and fees, based on standardized case scenarios with specific assumptions, such as the business being located in the largest business city of theeconomy.[4]
A nation’s ranking on the index is based on the average of 10 subindices:
[ul]
[li]Starting a business – Procedures, time, cost and minimum capital to open a new business[/li][li]Dealing with construction permits – Procedures, time and cost to build a warehouse[/li][li]Getting electricity – procedures, time and cost required for a business to obtain a permanent electricity connection for a newly constructed warehouse[/li][li]Registering property – Procedures, time and cost to register commercial real estate[/li][li]Getting credit – Strength of legal rights index, depth of credit information index[/li][li]Protecting investors – Indices on the extent of disclosure, extent of director liability and ease of shareholder suits[/li][li]Paying taxes – Number of taxes paid, hours per year spent preparing tax returns and total tax payable as share of gross profit[/li][li]Trading across borders – Number of documents, cost and time necessary to export and import[/li][li]Enforcing contracts – Procedures, time and cost to enforce a debt contract[/li][li]Resolving insolvency – The time, cost and recovery rate (%) under bankruptcy proceeding[/li][/ul]
The Doing Business project also offers information on following datasets:
[ul]
[li]Distance to frontier - Shows the distance of each economy to the “frontier,” which represents the highest performance observed on each of the indicators across all economies included since each indicator was included in Doing Business[/li][li]Entrepreneurship - Measures entrepreneurial activity. The data is collected directly from 130 company registrars on the number of newly registered firms over the past seven years[/li][li]Good practices - Provide insights into how governments have improved the regulatory environment in the past in the areas measured by Doing Business[/li][li]Transparency in business regulation - Data on the accessibility of regulatory information measures how easy it is to access fee schedules for 4 regulatory processes in the largest business city of an economy[/li][/ul]
While fewer and simpler regulations often imply higher rankings, this is not always the case. Protecting the rights of creditors and investors, as well as establishing or upgrading property and credit registries, may mean that more regulation is needed.
In most indicators, the case study refers to a small domestically-owned manufacturing company - hence the direct relevance of the indicators to foreign investors and large companies is limited. DB uses a simple averaging approach for weighting sub-indicators and calculating rankings. A detailed explanation of every indicator can be found through the DB website, and a .xls archive that simulates reforms.
Some caveats regarding the rankings and main information presented have to be considered by every user of the report. Mainly:
[ul]
[li]Doing Business does not measure all aspects of the business environment that matter to firm or investors, such as the macroeconomic conditions, or the level of employment, corruption, stability or poverty, in every country.[/li][li]Doing Business does not consider the strengths and weakness neither of the global financial system, nor the financial system of every country. It also doesn’t consider the state of the finances of the government of every country.[/li][li]Doing Business does not cover all the regulation, or all the regulatory requirements. Other types of regulation such as financial market, environment, or intellectual propertyregulations that are relevant for the private sector are not considered.[/li][/ul]
The Doing Business report is not intended as a complete assessment of competitiveness or of the business environment of a country and should rather be considered as a proxy of the regulatory framework faced by the private sector in doing business.
