Following its recent business-environment rankings scandal, the World Bank will have to overcome a deep trust deficit and take drastic steps to restore public confidence in its data. Any new efforts it undertakes in this area should meet four minimum criteria.
WASHINGTON, DC – Earlier this year, the World Bank commissioned me and five fellow academics to develop recommendations on how to improve the methodology behind its annual Doing Business report, which ranked countries on the quality of their business regulations and their overall business environment. The report had been a lightning rod for controversy since its inception in 2003. While it generated glowing coverage in the global business media, it was also subject to constant criticism for its perceived anti-regulation, anti-union, and anti-tax slant.
WASHINGTON, DC – Earlier this year, the World Bank commissioned me and five fellow academics to develop recommendations on how to improve the methodology behind its annual Doing Business report, which ranked countries on the quality of their business regulations and their overall business environment. The report had been a lightning rod for controversy since its inception in 2003. While it generated glowing coverage in the global business media, it was also subject to constant criticism for its perceived anti-regulation, anti-union, and anti-tax slant.