Reforming the Investment Climate : Lessons for Practitioners

Most people agree that a good investment climate is essential for growth and poverty reduction. Less clear is how to achieve it. Many reforms are complex, involving more than technical design and content. They are both political, facing opposition from organized and powerful groups-and institutional...

Full description

Bibliographic Details
Main Authors:	Kikeri, Sunita, Kenyon, Thomas, Palmade, Vincent
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVERSE EFFECTS ADVOCACY EFFORTS APPROPRIATE INCENTIVES BARRIERS TO ENTRY BENCHMARK BENCHMARKING BLUEPRINT BUREAUCRACIES BUREAUCRACY BUREAUCRATS CAPITAL MARKET CAPITAL MARKETS CATALYSTS CHANGE MANAGEMENT CITIZENS COMPETITION POLICY COMPETITIVENESS CONSUMER GROUPS DECENTRALIZATION DECISIONMAKING DEMOCRACY DEREGULATION DEVELOPING COUNTRIES ECONOMETRIC ANALYSIS ECONOMIC COOPERATION ECONOMIC MANAGEMENT ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC STRUCTURE EDUCATION SYSTEMS ENTERPRISE LAW ENTREPRENEURS EXECUTIVES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL SECTOR FOREIGN DIRECT INVESTMENT FREE TRADE GDP INSTITUTIONAL CAPACITY INSTITUTIONAL MECHANISMS INTERNATIONAL AGREEMENTS JURISDICTION LABOR CODE LABOR MARKET LABOR MARKETS LACK OF INFORMATION LEGISLATION LEGISLATORS LESS DEVELOPED COUNTRIES MACROECONOMIC STABILIZATION MARKET ACCESS MARKET INFORMATION MARKET REFORM MARKET REFORMS MEDIA MODERNIZATION NATIONAL LEVEL NATIONAL LEVELS ORGANIZATIONAL CHANGE ORGANIZATIONAL CULTURE POLICIES POLICY CHANGE POLICY DECISIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL CHANGE POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PROCESS POLITICAL SUPPORT POLITICAL SYSTEMS POPULAR SUPPORT POPULATION POVERTY REDUCTION PRACTITIONERS PROBABILITY PRODUCERS PRODUCT MARKET PRODUCT MARKETS PROGRESS PROPERTY RIGHTS PUBLIC ATTENTION PUBLIC OFFICIALS PUBLIC POLICY PUBLIC SERVICES PUBLIC SUPPORT REFORM EFFORT REFORM PROCESS REFORM PROCESSES REFORMS SOCIAL PROTECTION SOCIAL WELFARE SPREAD TRADE LIBERALIZATION TRADE REFORMS TRADE UNIONS UNEMPLOYMENT UNIONS VOTERS WAR WORLD TRADE ORGANIZATION
Online Access:	http://documents.worldbank.org/curated/en/2006/08/6969667/reforming-investment-climate-lessons-practitioners http://hdl.handle.net/10986/8365

id	okr-10986-8365
recordtype	oai_dc
spelling	okr-10986-83652021-04-23T14:02:41Z Reforming the Investment Climate : Lessons for Practitioners Kikeri, Sunita Kenyon, Thomas Palmade, Vincent ADVERSE EFFECTS ADVOCACY EFFORTS APPROPRIATE INCENTIVES BARRIERS TO ENTRY BENCHMARK BENCHMARKING BLUEPRINT BUREAUCRACIES BUREAUCRACY BUREAUCRATS CAPITAL MARKET CAPITAL MARKETS CATALYSTS CHANGE MANAGEMENT CITIZENS COMPETITION POLICY COMPETITIVENESS CONSUMER GROUPS DECENTRALIZATION DECISIONMAKING DEMOCRACY DEREGULATION DEVELOPING COUNTRIES ECONOMETRIC ANALYSIS ECONOMIC COOPERATION ECONOMIC MANAGEMENT ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC STRUCTURE EDUCATION SYSTEMS ENTERPRISE LAW ENTREPRENEURS EXECUTIVES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL SECTOR FOREIGN DIRECT INVESTMENT FREE TRADE GDP INSTITUTIONAL CAPACITY INSTITUTIONAL MECHANISMS INTERNATIONAL AGREEMENTS JURISDICTION LABOR CODE LABOR MARKET LABOR MARKETS LACK OF INFORMATION LEGISLATION LEGISLATORS LESS DEVELOPED COUNTRIES MACROECONOMIC STABILIZATION MARKET ACCESS MARKET INFORMATION MARKET REFORM MARKET REFORMS MEDIA MODERNIZATION NATIONAL LEVEL NATIONAL LEVELS ORGANIZATIONAL CHANGE ORGANIZATIONAL CULTURE POLICIES POLICY CHANGE POLICY DECISIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL CHANGE POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PROCESS POLITICAL SUPPORT POLITICAL SYSTEMS POPULAR SUPPORT POPULATION POVERTY REDUCTION PRACTITIONERS PROBABILITY PRODUCERS PRODUCT MARKET PRODUCT MARKETS PROGRESS PROPERTY RIGHTS PUBLIC ATTENTION PUBLIC OFFICIALS PUBLIC POLICY PUBLIC SERVICES PUBLIC SUPPORT REFORM EFFORT REFORM PROCESS REFORM PROCESSES REFORMS SOCIAL PROTECTION SOCIAL WELFARE SPREAD TRADE LIBERALIZATION TRADE REFORMS TRADE UNIONS UNEMPLOYMENT UNIONS VOTERS WAR WORLD TRADE ORGANIZATION Most people agree that a good investment climate is essential for growth and poverty reduction. Less clear is how to achieve it. Many reforms are complex, involving more than technical design and content. They are both political, facing opposition from organized and powerful groups-and institutionally demanding, cutting across different departments and levels of government. Reform thus requires paying as much attention to understanding the politics and institutional dimensions as to policy substance, which is the goal of this paper. Drawing from more than 25 case studies, it shows that there is no single recipe or "manual" for reform, given diverse contexts and serendipity in any reform effort. But three broad lessons emerge. 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. Central to this process is using education and persuasion strategies to gain wider acceptance and neutralize opponents. Pilot programs can be valuable for demonstrating the benefits and feasibility of change. And the third is to pay greater attention to implementation and monitoring. This does not require full scale public management reforms. Reformers can draw on private sector change management techniques to revitalize public institutions responsible for implementation. Given the cross-cutting nature of reform, new oversight mechanisms may be needed to monitor and sustain reform. The paper concludes with an emerging checklist for reformers and identifies areas for future work. 2012-06-18T21:09:14Z 2012-06-18T21:09:14Z 2006-08 http://documents.worldbank.org/curated/en/2006/08/6969667/reforming-investment-climate-lessons-practitioners http://hdl.handle.net/10986/8365 English Policy Research Working Paper; No. 3986 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ADVERSE EFFECTS ADVOCACY EFFORTS APPROPRIATE INCENTIVES BARRIERS TO ENTRY BENCHMARK BENCHMARKING BLUEPRINT BUREAUCRACIES BUREAUCRACY BUREAUCRATS CAPITAL MARKET CAPITAL MARKETS CATALYSTS CHANGE MANAGEMENT CITIZENS COMPETITION POLICY COMPETITIVENESS CONSUMER GROUPS DECENTRALIZATION DECISIONMAKING DEMOCRACY DEREGULATION DEVELOPING COUNTRIES ECONOMETRIC ANALYSIS ECONOMIC COOPERATION ECONOMIC MANAGEMENT ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC STRUCTURE EDUCATION SYSTEMS ENTERPRISE LAW ENTREPRENEURS EXECUTIVES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL SECTOR FOREIGN DIRECT INVESTMENT FREE TRADE GDP INSTITUTIONAL CAPACITY INSTITUTIONAL MECHANISMS INTERNATIONAL AGREEMENTS JURISDICTION LABOR CODE LABOR MARKET LABOR MARKETS LACK OF INFORMATION LEGISLATION LEGISLATORS LESS DEVELOPED COUNTRIES MACROECONOMIC STABILIZATION MARKET ACCESS MARKET INFORMATION MARKET REFORM MARKET REFORMS MEDIA MODERNIZATION NATIONAL LEVEL NATIONAL LEVELS ORGANIZATIONAL CHANGE ORGANIZATIONAL CULTURE POLICIES POLICY CHANGE POLICY DECISIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL CHANGE POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PROCESS POLITICAL SUPPORT POLITICAL SYSTEMS POPULAR SUPPORT POPULATION POVERTY REDUCTION PRACTITIONERS PROBABILITY PRODUCERS PRODUCT MARKET PRODUCT MARKETS PROGRESS PROPERTY RIGHTS PUBLIC ATTENTION PUBLIC OFFICIALS PUBLIC POLICY PUBLIC SERVICES PUBLIC SUPPORT REFORM EFFORT REFORM PROCESS REFORM PROCESSES REFORMS SOCIAL PROTECTION SOCIAL WELFARE SPREAD TRADE LIBERALIZATION TRADE REFORMS TRADE UNIONS UNEMPLOYMENT UNIONS VOTERS WAR WORLD TRADE ORGANIZATION
spellingShingle	ADVERSE EFFECTS ADVOCACY EFFORTS APPROPRIATE INCENTIVES BARRIERS TO ENTRY BENCHMARK BENCHMARKING BLUEPRINT BUREAUCRACIES BUREAUCRACY BUREAUCRATS CAPITAL MARKET CAPITAL MARKETS CATALYSTS CHANGE MANAGEMENT CITIZENS COMPETITION POLICY COMPETITIVENESS CONSUMER GROUPS DECENTRALIZATION DECISIONMAKING DEMOCRACY DEREGULATION DEVELOPING COUNTRIES ECONOMETRIC ANALYSIS ECONOMIC COOPERATION ECONOMIC MANAGEMENT ECONOMIC OUTLOOK ECONOMIC PERFORMANCE ECONOMIC STRUCTURE EDUCATION SYSTEMS ENTERPRISE LAW ENTREPRENEURS EXECUTIVES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL SECTOR FOREIGN DIRECT INVESTMENT FREE TRADE GDP INSTITUTIONAL CAPACITY INSTITUTIONAL MECHANISMS INTERNATIONAL AGREEMENTS JURISDICTION LABOR CODE LABOR MARKET LABOR MARKETS LACK OF INFORMATION LEGISLATION LEGISLATORS LESS DEVELOPED COUNTRIES MACROECONOMIC STABILIZATION MARKET ACCESS MARKET INFORMATION MARKET REFORM MARKET REFORMS MEDIA MODERNIZATION NATIONAL LEVEL NATIONAL LEVELS ORGANIZATIONAL CHANGE ORGANIZATIONAL CULTURE POLICIES POLICY CHANGE POLICY DECISIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL CHANGE POLITICAL ECONOMY POLITICAL LEADERSHIP POLITICAL PARTIES POLITICAL PROCESS POLITICAL SUPPORT POLITICAL SYSTEMS POPULAR SUPPORT POPULATION POVERTY REDUCTION PRACTITIONERS PROBABILITY PRODUCERS PRODUCT MARKET PRODUCT MARKETS PROGRESS PROPERTY RIGHTS PUBLIC ATTENTION PUBLIC OFFICIALS PUBLIC POLICY PUBLIC SERVICES PUBLIC SUPPORT REFORM EFFORT REFORM PROCESS REFORM PROCESSES REFORMS SOCIAL PROTECTION SOCIAL WELFARE SPREAD TRADE LIBERALIZATION TRADE REFORMS TRADE UNIONS UNEMPLOYMENT UNIONS VOTERS WAR WORLD TRADE ORGANIZATION Kikeri, Sunita Kenyon, Thomas Palmade, Vincent Reforming the Investment Climate : Lessons for Practitioners
relation	Policy Research Working Paper; No. 3986
description	Most people agree that a good investment climate is essential for growth and poverty reduction. Less clear is how to achieve it. Many reforms are complex, involving more than technical design and content. They are both political, facing opposition from organized and powerful groups-and institutionally demanding, cutting across different departments and levels of government. Reform thus requires paying as much attention to understanding the politics and institutional dimensions as to policy substance, which is the goal of this paper. Drawing from more than 25 case studies, it shows that there is no single recipe or "manual" for reform, given diverse contexts and serendipity in any reform effort. But three broad lessons emerge. 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. Central to this process is using education and persuasion strategies to gain wider acceptance and neutralize opponents. Pilot programs can be valuable for demonstrating the benefits and feasibility of change. And the third is to pay greater attention to implementation and monitoring. This does not require full scale public management reforms. Reformers can draw on private sector change management techniques to revitalize public institutions responsible for implementation. Given the cross-cutting nature of reform, new oversight mechanisms may be needed to monitor and sustain reform. The paper concludes with an emerging checklist for reformers and identifies areas for future work.
format	Publications & Research :: Policy Research Working Paper
author	Kikeri, Sunita Kenyon, Thomas Palmade, Vincent
author_facet	Kikeri, Sunita Kenyon, Thomas Palmade, Vincent
author_sort	Kikeri, Sunita
title	Reforming the Investment Climate : Lessons for Practitioners
title_short	Reforming the Investment Climate : Lessons for Practitioners
title_full	Reforming the Investment Climate : Lessons for Practitioners
title_fullStr	Reforming the Investment Climate : Lessons for Practitioners
title_full_unstemmed	Reforming the Investment Climate : Lessons for Practitioners
title_sort	reforming the investment climate : lessons for practitioners
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/08/6969667/reforming-investment-climate-lessons-practitioners http://hdl.handle.net/10986/8365
_version_	1764406317906132992

Reforming the Investment Climate : Lessons for Practitioners

Similar Items