In the first report one of the main findings was that low-income economies had very cumbersome regulatory systems. Ten years later it is apparent that business regulatory practices in these economies have been gradually but noticeably converging toward the more effi cient practices common in higher income economies. How much has the gap narrowed?
Did some regions close the regulatory gap more rapidly than others? This year’s report tells that story. It points to important trends in regulatory reform and identifies the regions and economies making the biggest improvements for local entrepreneurs.
And it highlights both the areas of business regulation that have received the most attention and those where more progress remains to be made. The report also reviews research on which regulatory reforms have worked and how. After 10 years of data tracking reforms and regulatory practices around the world, more evidence is available to address these questions. The report summarizes just some of the main findings. Among the highlights: Smarter business regulation supports economic growth. Simpler business registration promotes greater entrepreneurship and firm productivity, while lower-cost registration improves formal employment opportunities. An effective regulatory environment boosts trade performance.