Assessing the Impact of the Investment Climate on Productivity Using Firm-level Data

Assessing the Impact of the Investment Climate on Productivity Using Firm-level Data

Author: Alvaro Escribano

Publisher: World Bank Publications

Published: 2005

Total Pages: 107

ISBN-13:

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Developing countries are increasingly concerned about improving country competitiveness and productivity as they face the increasing pressures of globalization and attempt to improve economic growth and reduce poverty. Among such countries, investment climate assessments (ICA) have become a standard instrument for identifying key obstacles to country competitiveness and imputing their impact on productivity, in order to prioritize policy reforms for enhancing competitiveness. Given the survey objectives and the nature and limitations of the data collected, the authors discuss the advantages and disadvantages of using different productivity measures based on data at the firm level. Their main objective is to develop a methodology to appropriately estimate, in a robust manner, the productivity impact of the investment climate variables. To illustrate the use of this methodology, the authors apply it to the data collected for ICAs in three countries-Guatemala, Honduras, and Nicaragua. Observations in logarithms (logs) of the variables, and not in rates of growth, are pooled from all three countries. The econometric analysis is done with variables in logs to reduce the impact of measurement errors and allow inclusion of as many observations as possible since the "panel" data set is very unbalanced. The authors address the endogeneity of the production function inputs and of the investment climate variables by using a variant of the control function approach based on individual firm information, and by aggregating investment climate variables by industry and region. The authors show that it is possible to get robust results for 10 different productivity measures, if one follows a consistent econometric methodology of specification and estimation. For policy analysis, they recommend using those results of investment climate variables on productivity that are robust for most of the productivity measures. The also analyze efficiency aspects of firms in each country. Finally, they decompose the results to obtain country-specific impacts and establish corresponding priorities for policy reform. The actual estimates for the three countries show the level of significance of the impact of investment climate variables on productivity. Variables in several categories, red tape and infrastructure in particular, appear to account for over 30 percent of productivity. The policy implications are clear: investment climate matters enormously and the relative impact of the various investment climate variables indicates where reform efforts should be directed. Given the robustness of the results, the authors argue that the econometric methodology of productivity analysis developed here ought to be used as a benchmark to assess productivity effects for other ICAs or surveys with firm-level data of similar characteristics.


Book Synopsis Assessing the Impact of the Investment Climate on Productivity Using Firm-level Data by : Alvaro Escribano

Download or read book Assessing the Impact of the Investment Climate on Productivity Using Firm-level Data written by Alvaro Escribano and published by World Bank Publications. This book was released on 2005 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries are increasingly concerned about improving country competitiveness and productivity as they face the increasing pressures of globalization and attempt to improve economic growth and reduce poverty. Among such countries, investment climate assessments (ICA) have become a standard instrument for identifying key obstacles to country competitiveness and imputing their impact on productivity, in order to prioritize policy reforms for enhancing competitiveness. Given the survey objectives and the nature and limitations of the data collected, the authors discuss the advantages and disadvantages of using different productivity measures based on data at the firm level. Their main objective is to develop a methodology to appropriately estimate, in a robust manner, the productivity impact of the investment climate variables. To illustrate the use of this methodology, the authors apply it to the data collected for ICAs in three countries-Guatemala, Honduras, and Nicaragua. Observations in logarithms (logs) of the variables, and not in rates of growth, are pooled from all three countries. The econometric analysis is done with variables in logs to reduce the impact of measurement errors and allow inclusion of as many observations as possible since the "panel" data set is very unbalanced. The authors address the endogeneity of the production function inputs and of the investment climate variables by using a variant of the control function approach based on individual firm information, and by aggregating investment climate variables by industry and region. The authors show that it is possible to get robust results for 10 different productivity measures, if one follows a consistent econometric methodology of specification and estimation. For policy analysis, they recommend using those results of investment climate variables on productivity that are robust for most of the productivity measures. The also analyze efficiency aspects of firms in each country. Finally, they decompose the results to obtain country-specific impacts and establish corresponding priorities for policy reform. The actual estimates for the three countries show the level of significance of the impact of investment climate variables on productivity. Variables in several categories, red tape and infrastructure in particular, appear to account for over 30 percent of productivity. The policy implications are clear: investment climate matters enormously and the relative impact of the various investment climate variables indicates where reform efforts should be directed. Given the robustness of the results, the authors argue that the econometric methodology of productivity analysis developed here ought to be used as a benchmark to assess productivity effects for other ICAs or surveys with firm-level data of similar characteristics.

Assessing the Impact of the Investment Climate on Productivity Using Firm-Level Data

Assessing the Impact of the Investment Climate on Productivity Using Firm-Level Data

Author: Alvaro Escribano

Publisher:

Published: 2012

Total Pages:

ISBN-13:

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Developing countries are increasingly concerned about improving country competitiveness and productivity as they face the increasing pressures of globalization and attempt to improve economic growth and reduce poverty. Among such countries, investment climate assessments (ICA) have become a standard instrument for identifying key obstacles to country competitiveness and imputing their impact on productivity, in order to prioritize policy reforms for enhancing competitiveness. Given the survey objectives and the nature and limitations of the data collected, the authors discuss the advantages and disadvantages of using different productivity measures based on data at the firm level. Their main objective is to develop a methodology to appropriately estimate, in a robust manner, the productivity impact of the investment climate variables. To illustrate the use of this methodology, the authors apply it to the data collected for ICAs in three countries-Guatemala, Honduras, and Nicaragua. Observations in logarithms (logs) of the variables, and not in rates of growth, are pooled from all three countries. The econometric analysis is done with variables in logs to reduce the impact of measurement errors and allow inclusion of as many observations as possible since the "panel" data set is very unbalanced. The authors address the endogeneity of the production function inputs and of the investment climate variables by using a variant of the control function approach based on individual firm information, and by aggregating investment climate variables by industry and region. The authors show that it is possible to get robust results for 10 different productivity measures, if one follows a consistent econometric methodology of specification and estimation. For policy analysis, they recommend using those results of investment climate variables on productivity that are robust for most of the productivity measures. The also analyze efficiency aspects of firms in each country. Finally, they decompose the results to obtain country-specific impacts and establish corresponding priorities for policy reform. The actual estimates for the three countries show the level of significance of the impact of investment climate variables on productivity. Variables in several categories, red tape and infrastructure in particular, appear to account for over 30 percent of productivity. The policy implications are clear: investment climate matters enormously and the relative impact of the vari...


Book Synopsis Assessing the Impact of the Investment Climate on Productivity Using Firm-Level Data by : Alvaro Escribano

Download or read book Assessing the Impact of the Investment Climate on Productivity Using Firm-Level Data written by Alvaro Escribano and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries are increasingly concerned about improving country competitiveness and productivity as they face the increasing pressures of globalization and attempt to improve economic growth and reduce poverty. Among such countries, investment climate assessments (ICA) have become a standard instrument for identifying key obstacles to country competitiveness and imputing their impact on productivity, in order to prioritize policy reforms for enhancing competitiveness. Given the survey objectives and the nature and limitations of the data collected, the authors discuss the advantages and disadvantages of using different productivity measures based on data at the firm level. Their main objective is to develop a methodology to appropriately estimate, in a robust manner, the productivity impact of the investment climate variables. To illustrate the use of this methodology, the authors apply it to the data collected for ICAs in three countries-Guatemala, Honduras, and Nicaragua. Observations in logarithms (logs) of the variables, and not in rates of growth, are pooled from all three countries. The econometric analysis is done with variables in logs to reduce the impact of measurement errors and allow inclusion of as many observations as possible since the "panel" data set is very unbalanced. The authors address the endogeneity of the production function inputs and of the investment climate variables by using a variant of the control function approach based on individual firm information, and by aggregating investment climate variables by industry and region. The authors show that it is possible to get robust results for 10 different productivity measures, if one follows a consistent econometric methodology of specification and estimation. For policy analysis, they recommend using those results of investment climate variables on productivity that are robust for most of the productivity measures. The also analyze efficiency aspects of firms in each country. Finally, they decompose the results to obtain country-specific impacts and establish corresponding priorities for policy reform. The actual estimates for the three countries show the level of significance of the impact of investment climate variables on productivity. Variables in several categories, red tape and infrastructure in particular, appear to account for over 30 percent of productivity. The policy implications are clear: investment climate matters enormously and the relative impact of the vari...

Investment Climate Reforms

Investment Climate Reforms

Author: World Bank World Bank

Publisher: World Bank Publications

Published: 2015-11-02

Total Pages: 253

ISBN-13: 1464806292

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Private firms are at the forefront of the development process, providing more than 90 percent of jobs, supplying goods and services, and representing a significant source of tax revenues. Their ability to grow, create jobs, and reduce poverty depends critically on a well-functioning investment climate--defined as the policy, legal, and institutional arrangements underpinning the functioning of markets and the level of transaction costs and risks associated with starting, operating, and closing a business. The World Bank Group has provided extensive support to investment climate reforms. This evaluation by the Independent Evaluation Group (IEG) assesses the relevance, effectiveness, and social value of World Bank Group support to investment climate reforms as it relates to concerns for inclusion and shared prosperity. IEG finds that the World Bank Group has supported a comprehensive menu of investment climate reforms and has improved investment climate in countries, as measured by number of laws enacted, streamlining of processes and time, or simple cost savings for private firms. However, the impact on investment, jobs, business formation, and growth is not straightforward. Regulatory reforms need to be designed and implemented with both economic and social costs and benefits in mind; IEG found that, in practice, World Bank Group support focuses predominantly on reducing costs to businesses. In supporting investment climate reforms, the World Bank and the International Finance Corporation use two distinct but complementary business models. Despite the fact that investment climate is the most integrated business unit in the World Bank Group, coordination is mostly informal, relying mainly on personal contacts. IEG recommends that the World Bank Group expand its range of diagnostic tools and integrate them in the areas of the business environment not yet covered by existing tools; develop an approach to identify the social effects of regulatory reforms on all groups expected to be affected by them beyond the business community; and exploit synergies by ensuring that World Bank and IFC staff improve their understanding of each other's work and business models.


Book Synopsis Investment Climate Reforms by : World Bank World Bank

Download or read book Investment Climate Reforms written by World Bank World Bank and published by World Bank Publications. This book was released on 2015-11-02 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private firms are at the forefront of the development process, providing more than 90 percent of jobs, supplying goods and services, and representing a significant source of tax revenues. Their ability to grow, create jobs, and reduce poverty depends critically on a well-functioning investment climate--defined as the policy, legal, and institutional arrangements underpinning the functioning of markets and the level of transaction costs and risks associated with starting, operating, and closing a business. The World Bank Group has provided extensive support to investment climate reforms. This evaluation by the Independent Evaluation Group (IEG) assesses the relevance, effectiveness, and social value of World Bank Group support to investment climate reforms as it relates to concerns for inclusion and shared prosperity. IEG finds that the World Bank Group has supported a comprehensive menu of investment climate reforms and has improved investment climate in countries, as measured by number of laws enacted, streamlining of processes and time, or simple cost savings for private firms. However, the impact on investment, jobs, business formation, and growth is not straightforward. Regulatory reforms need to be designed and implemented with both economic and social costs and benefits in mind; IEG found that, in practice, World Bank Group support focuses predominantly on reducing costs to businesses. In supporting investment climate reforms, the World Bank and the International Finance Corporation use two distinct but complementary business models. Despite the fact that investment climate is the most integrated business unit in the World Bank Group, coordination is mostly informal, relying mainly on personal contacts. IEG recommends that the World Bank Group expand its range of diagnostic tools and integrate them in the areas of the business environment not yet covered by existing tools; develop an approach to identify the social effects of regulatory reforms on all groups expected to be affected by them beyond the business community; and exploit synergies by ensuring that World Bank and IFC staff improve their understanding of each other's work and business models.

Global Productivity

Global Productivity

Author: Alistair Dieppe

Publisher: World Bank Publications

Published: 2021-06-09

Total Pages: 552

ISBN-13: 1464816093

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The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD


Book Synopsis Global Productivity by : Alistair Dieppe

Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

Productivity in Emerging Countries

Productivity in Emerging Countries

Author: Alvaro Escribano

Publisher: Cambridge University Press

Published: 2021-06-17

Total Pages: 116

ISBN-13: 1108905749

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Emerging countries are increasingly concerned with improving their competitiveness and productivity. This Element develops a robust econometric methodology, based on controlling for usual unobservable effects at the firm or plant level. By robust empirical results in total factor productivity (TFP), we mean estimating investment climate (IC) elasticities, or semi-elasticities, with equal signs and similar magnitudes for more than ten different competing TFP measures. The key to achieve similar empirical results for several TFP measures is to avoid having a problem omitted variables, achieved through imputation of large proportions of missing observations in relevant variables (i.e. the capital stock). Furthermore through the use of a new concept of aggregate TFP (tfpIC), that measures the associated IC effects on firm ́s tfp, we are able to make meaningful cross-country firm ́s level productivity comparisons, avoiding the usual problem of comparing 'apples with oranges' that would otherwise occur if we directly compare country's TFP measurements.


Book Synopsis Productivity in Emerging Countries by : Alvaro Escribano

Download or read book Productivity in Emerging Countries written by Alvaro Escribano and published by Cambridge University Press. This book was released on 2021-06-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging countries are increasingly concerned with improving their competitiveness and productivity. This Element develops a robust econometric methodology, based on controlling for usual unobservable effects at the firm or plant level. By robust empirical results in total factor productivity (TFP), we mean estimating investment climate (IC) elasticities, or semi-elasticities, with equal signs and similar magnitudes for more than ten different competing TFP measures. The key to achieve similar empirical results for several TFP measures is to avoid having a problem omitted variables, achieved through imputation of large proportions of missing observations in relevant variables (i.e. the capital stock). Furthermore through the use of a new concept of aggregate TFP (tfpIC), that measures the associated IC effects on firm ́s tfp, we are able to make meaningful cross-country firm ́s level productivity comparisons, avoiding the usual problem of comparing 'apples with oranges' that would otherwise occur if we directly compare country's TFP measurements.

Structural Reforms and Firms’ Productivity: Evidence from Developing Countries

Structural Reforms and Firms’ Productivity: Evidence from Developing Countries

Author: Wilfried A. Kouamé

Publisher: International Monetary Fund

Published: 2018-03-19

Total Pages: 42

ISBN-13: 1484347005

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This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.


Book Synopsis Structural Reforms and Firms’ Productivity: Evidence from Developing Countries by : Wilfried A. Kouamé

Download or read book Structural Reforms and Firms’ Productivity: Evidence from Developing Countries written by Wilfried A. Kouamé and published by International Monetary Fund. This book was released on 2018-03-19 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the effects of structural reforms on firm-level productivity for 37 developing countries from 2006 to 2014 period. It takes advantage of the IMF Monitoring of Fund Arrangements dataset for reform indexes and the World Bank Enterprise Surveys for firm-level productivity. The paper highlights the following results. Structural reforms such as financial, fiscal, real sector, and trade reforms, significantly improve firm-level productivity. Interestingly, real sector reforms have the most sizeable effects on firm-level productivity. The relationship between structural reforms and firm-level productivity is nonlinear and shaped by some firms’ characteristics such as the financial access, the distortionary environment, and the size of firms. The pace of structural reforms matters since being a “strong reformer” is associated with a clear productivity dividend for firms. Finally, except for financial and trade reforms, all structural reforms under consideration are bilaterally complementary in improving firm-level productivity. These findings are robust to several sensitivity checks.

The Impact of Business Environment and Economic Geography on Plant-level Productivity

The Impact of Business Environment and Economic Geography on Plant-level Productivity

Author: Somik V. Lall

Publisher: World Bank Publications

Published: 2005

Total Pages: 53

ISBN-13:

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"The authors' analysis of manufacturing plants sampled from India's major industrial centers shows large productivity gaps across cities. The gaps partly reflect differences in agglomeration economies and in market access. However, they are also explained to a greater extent by differences in the degree of labor regulation and in the severity of power shortages. This is an indication that governments can help narrow regional disparities in industrial growth by fostering the "right business environment" in locations where industry might otherwise be held back by powerful forces of economic geography. There is indeed a pattern in the data whereby geographically disadvantaged cities seem to compensate partially for their natural disadvantage by having a better business environment than more geographically advantaged locations. "--World Bank web site.


Book Synopsis The Impact of Business Environment and Economic Geography on Plant-level Productivity by : Somik V. Lall

Download or read book The Impact of Business Environment and Economic Geography on Plant-level Productivity written by Somik V. Lall and published by World Bank Publications. This book was released on 2005 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors' analysis of manufacturing plants sampled from India's major industrial centers shows large productivity gaps across cities. The gaps partly reflect differences in agglomeration economies and in market access. However, they are also explained to a greater extent by differences in the degree of labor regulation and in the severity of power shortages. This is an indication that governments can help narrow regional disparities in industrial growth by fostering the "right business environment" in locations where industry might otherwise be held back by powerful forces of economic geography. There is indeed a pattern in the data whereby geographically disadvantaged cities seem to compensate partially for their natural disadvantage by having a better business environment than more geographically advantaged locations. "--World Bank web site.

Producer Dynamics

Producer Dynamics

Author: Timothy Dunne

Publisher: University of Chicago Press

Published: 2009-05-15

Total Pages: 623

ISBN-13: 0226172570

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The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.


Book Synopsis Producer Dynamics by : Timothy Dunne

Download or read book Producer Dynamics written by Timothy Dunne and published by University of Chicago Press. This book was released on 2009-05-15 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.

An Assessment of the Investment Climate in Nigeria

An Assessment of the Investment Climate in Nigeria

Author: Giuseppe Iarossi

Publisher: World Bank Publications

Published: 2009

Total Pages: 146

ISBN-13: 0821378112

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This book sheds light on some of the most important policy issues required to put Nigeria on a higher growth path. It highlights the challenges that Nigeria's businesses face today and what government can do to overcome such obstacles.


Book Synopsis An Assessment of the Investment Climate in Nigeria by : Giuseppe Iarossi

Download or read book An Assessment of the Investment Climate in Nigeria written by Giuseppe Iarossi and published by World Bank Publications. This book was released on 2009 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on some of the most important policy issues required to put Nigeria on a higher growth path. It highlights the challenges that Nigeria's businesses face today and what government can do to overcome such obstacles.

Does the Investment Climate Matter?

Does the Investment Climate Matter?

Author: Pablo Fajnzylber

Publisher: World Bank Publications

Published: 2008-11-12

Total Pages: 346

ISBN-13: 0821374125

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Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. By providing empirical evidence linking actual firm performance to shortcomings in Latin America's investment climate, the book discusses policies that could have a significant impact on firm productivity by improving the environment in which firms invest and operate.


Book Synopsis Does the Investment Climate Matter? by : Pablo Fajnzylber

Download or read book Does the Investment Climate Matter? written by Pablo Fajnzylber and published by World Bank Publications. This book was released on 2008-11-12 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. By providing empirical evidence linking actual firm performance to shortcomings in Latin America's investment climate, the book discusses policies that could have a significant impact on firm productivity by improving the environment in which firms invest and operate.