The Effects of Business Environments on Development : Surveying New Firm-Level Evidence

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 l...

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Bibliographic Details
Main Author:	Xu, Lixin Colin
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS TO BANK ACCESS TO EXTERNAL FINANCE ACCESS TO FINANCE ACCOUNTING ADVERSE DEMAND ADVERSE EFFECTS AGENCY COSTS ANTI-SWEATSHOP CAMPAIGN AUCTION AVERAGE PRODUCTIVITY BANK OFFICIALS BANK POLICY BANKING SECTOR BANKRUPTCIES BANKRUPTCY BANKRUPTCY LAWS BANKRUPTCY PROCEDURE BARRIER BRIBE BRIBES BRIBING BUDGET CONSTRAINT BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL OWNERS CHECKS CODES OF CONDUCT COLLATERAL COLLATERAL REQUIREMENTS COMPUTER TECHNOLOGY CONTRACT ENFORCEMENT CORPORATE GOVERNANCE CORPORATE TAX CORPORATE TAX RATE CORPORATE TAX RATES CORPORATE TAXES CORRUPTION COUNTRY DUMMIES CREDITOR CREDITORS DEREGULATION DEREGULATIONS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DISMISSAL DISPUTE RESOLUTIONS ECONOMETRICS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CIRCUMSTANCES ECONOMIC CONSEQUENCES ECONOMIC DEVELOPMENT ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC REFORM ECONOMIC REFORMS ECONOMICS EFFICIENCY OF LABOR EMERGING ECONOMIES EMPIRICAL STUDIES EMPLOYER EMPLOYMENT GROWTH ENFORCEMENTS ENTREPRENEUR ENTREPRENEURIAL ACTIVITIES ENTREPRENEURS ENTRY BARRIERS ENVIRONMENTS EXCHANGE RATE EXCLUSION EXPORTERS EXPOSURE EXPROPRIATION EXPROPRIATIONS EXTERNAL FINANCE FARMERS FINANCIAL DEVELOPMENT FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCIAL SECTORS FIRM GROWTH FIRM PERFORMANCE FIRM PERFORMANCES FIXED ASSETS FOOD POLICY RESEARCH FORECLOSURES FOREIGN BANK FOREIGN BANK ENTRY FOREIGN BANKS FOREIGN COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN FIRMS FOREIGN OWNERSHIP GLOBALIZATION GOVERNANCE INDICATORS GOVERNMENT POLICIES GOVERNMENT REGULATION GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HOLDING HUMAN CAPITAL INCOME INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME TAX INFLATION INFORMAL CREDIT INFORMATION DISCLOSURE INFRASTRUCTURE INVESTMENT INNOVATION INNOVATIONS INPUT PRICES INSTRUMENT INTANGIBLE INTANGIBLE ASSETS INTELLECTUAL PROPERTY INTERNATIONAL BANK INVESTMENT CLIMATE INVESTMENT CLIMATES INVESTMENT DECISIONS INVESTOR PROTECTION JOB CREATION JOB CREATIONS JUDICIAL SYSTEM LABOR ADJUSTMENT COSTS LABOR ALLOCATION LABOR COSTS LABOR DEMAND LABOR ECONOMICS LABOR FORCE LABOR MARKET LABOR MARKET FLEXIBILITY LABOR PRODUCTIVITY LABOR REGULATIONS LABOR TURNOVER LAW ENFORCEMENT LEGAL CONSTRAINTS LEGAL RIGHTS LEGAL SYSTEM LEGAL SYSTEMS LIBERALIZATION LIMITED LIABILITY LIMITED LIABILITY CORPORATION LIQUIDATION LOAN LOAN AMOUNTS LOCAL BANKS LOCAL BUSINESS LOCAL BUSINESSES LOCAL ECONOMY LOCAL GOVERNMENT LOCAL GOVERNMENTS MANUFACTURING INDUSTRIES MARGINAL REVENUE MARKET COMPETITION MARKET DISCIPLINE MARKET REFORMS MICRO DATA MINIMUM WAGE MINIMUM WAGES MONOPOLIES MONOPOLY MULTINATIONAL OUTPUT OUTPUTS OVERDRAFT POLICY MAKERS POLITICAL ECONOMY POLITICAL INSTITUTIONS POLITICAL STABILITY POLLUTION PRIVATE PARTIES PRIVATE PROPERTY PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PRODUCERS PRODUCTION COSTS PRODUCTIVE INVESTMENT PRODUCTIVITY GROWTH PROFIT MARGINS PROPERTY RIGHTS PROPERTY RIGHTS PROTECTION PROPRIETORSHIPS PUBLIC ENFORCEMENT PUBLIC GOODS RED TAPE REGULATORS REINVESTMENT REINVESTMENT RATE REINVESTMENT RATES REPUTATION RETAINED EARNINGS RETURN RETURNS RULE OF LAW SAFETY SALES GROWTH SEVERANCE PAY SHAREHOLDERS SINGLE MARKET SMALL BUSINESS SOCIAL CAPITAL SOCIAL COST SOCIAL NETWORK SUPPLIERS SUSTAINABLE GROWTH TAX TAX BURDEN TAX BURDENS TAX RATES TELECOMMUNICATIONS TRADE CREDIT TRADE UNIONS TRANSACTION TRANSACTION COSTS TRANSITION ECONOMIES UNEMPLOYED UNEMPLOYMENT VILLAGE WAGES WELFARE EFFECTS WORKING CONDITIONS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100824110330 http://hdl.handle.net/10986/3886

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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.

The Effects of Business Environments on Development : Surveying New Firm-Level Evidence

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