What is it about?
This paper examines and compares the business environment parameters - starting a business, obtaining licenses and construction permits, access to credit and electricity, ensuring investor protection, enforcing contracts, paying taxes, trading across borders, solvency procedures - against certain benchmarks in six developing Asian economies—the People’s Republic of China, Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. The benchmark countries cover the newly industrialized economies (NIEs) of Hong Kong, China; the Republic of Korea; and Singapore; and the developed economies of Japan and the United States.
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Why is it important?
Since the paper identifies areas where reform has taken place and where further efforts are needed - such as addressing policy uncertainties, the quality of governance and legal and institutional frameworks, and inadequate regulatory capacity - in the six developing Asian economies, it has direct relevance to policymakers inn these countries. The paper's findings help these countries to strengthen the business environment parameters by taking prompt corrective policy actions.
Perspectives
The paper's novelty basically lies in studying business environment and regulatory reforms in the six Asian developing countries in a comparative perspective - with reference to a set of benchmarks in their more developed counterparts. By so doing, the paper helps these countries to push their business environment and regulatory frameworks towards the best practice frontiers of the developed countries.
Dr srinivasa madhur
Ministry of Economy and Finance
Read the Original
This page is a summary of: Regulatory Reforms for Improving the Business Environment in Selected Asian Economies — How Monitoring and Comparative Benchmarking Can Provide Incentive for Reform, SSRN Electronic Journal, Social Science Electronic Publishing,
DOI: 10.2139/ssrn.1572412.
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