Last month the World Bank issued its new edition of its famous Doing Business survey, which is well worth studying as it reports on global progress towards better regulatory management. In the past year, governments in 117 economies carried out 216 regulatory reforms aimed at making it easier to start and operate a business, strengthening transparency and property rights, and improving the efficiency of commercial dispute resolution and bankruptcy procedures.
There are some unexpected changes which demonstrate the diversity of the possible approaches, and the complexity of what makes economies attractive. SMEs have often been the targeted beneficiaries of the improvements to the business climate.
For the fifth year running, Singapore leads in the ease of doing business, followed by Hong Kong SAR China, New Zealand, the United Kingdom, and the United States. Among the top 25 economies, 18 made things even easier over the past year.
Kazakhstan leads the list of countries having improved business regulation for local entrepreneurs which also includes three in Sub-Saharan Africa— Rwanda (a consistent reformer of business regulation), Cape Verde, and Zambia—as well as Peru, Vietnam, Tajikistan, Hungary, Grenada, and Brunei Darussalam.
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