Some central questions in international development are how to measure progress, make sound cross-country comparisons, and build the case for political and economic reforms. Multilateral institutions such as the World Bank play the role of repositories of credible, accessible, and up-to-date information that serves as an international benchmark for progress. Access to information is the basis for evidence-based policymaking and can serve as a catalyst for necessary reforms.
The World Bank recently convened a conference to present research around its Doing Business index at my alma mater Georgetown University. The keynote speaker, Tim Besley of the London School of Economics, discussed the importance of World Bank data that is publicly available and internationally recognized as a reliable source of evidence-based policymaking.
The Doing Business Survey focuses on two main sets of indicators: regulations and legal institutions. The regulation indicators are the number of procedures, time, and cost involved in starting a business, to obtain a construction permit, getting access to electricity, registering property, paying taxes, and the ability to trade across international borders.
Women entrepreneurs at a networking even in New Delhi. (Photo: Wikimedia Commons)
By Laura Boyette and Teodora Mihaylova
Including women in the economy is not just the right thing to do, but also the smart thing for a country’s economic growth. Women’s participation in the workforce is potentially a major source of global economic growth and job creation, and yet a recently released World Bank report finds that nearly 90 percent of 143 countries studied contain at “least one legal difference restricting women’s economic opportunities.”
Women make up half of the world’s population, yet face many more cultural, legal, familial, religious, and economic barriers than men to entering the market. These impediments limit women’s ability to provide for themselves and their families, depriving them of the essential human right of autonomy in their decisions, economic opportunities, and the ability to petition the government or have access to institutions. These barriers also deprive countries of significant GDP growth and stand in the way of attaining full development goals. Previous CIPE blogs have discussed the merits of closing the economic participation gender gap, how gender equity is an integral part of the post-2015 development agenda, and the fact that women are natural entrepreneurs but lack resources to develop skills.
The Women, Business and the Law report, recently introduced at the Brookings Institution, examines the legal and regulatory barriers to women’s participation in the workforce through seven indicators: gaining access to institutions, using property, getting a job, providing incentives to work, building credit, going to court, and protecting women from violence.