“Doing Business is by and large about the efficiency of regulations — how fast, how cheap, how simple it is to get a transaction completed,” explains Rita Ramalho, manager of the Doing Business project, “But now we’re branching out to also measure the quality of regulations.”
In response to an independent panel review and numerous consultations both within and outside of the World Bank, the latest Doing Business 2015 report by the World Bank uses new data and methodology in three areas: resolving insolvency, protecting minority investors, and getting credit, with further plans to expand on five topics in next year’s report.
While 80% of countries in the study improved their business regulations last year, only about one-third moved up in the rankings. However, the gap between the best and worst performing countries continues to narrow as countries improve their business climates.
“It’s easier to do business this year than it was last year, than it was two years ago or 10 years ago,” says Ramalho. “We see that the economies that score the lowest are reforming more intensely, so they are converging toward the economies that do the best.”