BE-READY BY WORLD BANK

3rd May, 2023 International Relations

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Context

The World Bank unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel its flagship rankings two years ago.

Background

The bank scrapped its "Doing Business" rankings in September 2021, citing internal audits and an independent probe that found senior World Bank leaders had pressured staff to alter data to favor China.
It cited data irregularities that also boosted rankings of other countries, including Saudi Arabia, the United Arab Emirates and Azerbaijan.

Details

A pilot edition of the new replacement annual series called "Business Ready" will be published in the spring of 2024, covering an initial group of 54 economies in Asia, Latin America, Europe, the Middle East and Sub-Saharan Africa, the bank said.
More countries will be added in the next two years as the bank refines its methodology and ramps up the new project.
"Business Ready" was shaped by recommendations from World Bank experts, governments, the private sector, and civil society groups, and includes for the first time worker rights, as defined by the International Labor Organization.

Data Transparency

To ensure full transparency, the bank would publish all collected data - raw data, scores and the calculations used to obtain the scores - from private sector contributors, as well as from surveys of entrepreneurs, company owners and managers.
The bank will also make available the tools needed by outsiders to replicate the results of the data assessments.

Coverage

The new project focuses on 10 topics covering the lifecycle of a firm, including business entry, utility services, labor, dispute resolution, market competition, taxation and insolvency - another move aimed at addressing criticism of the earlier product.

World Bank Reports

Commodity Markets Outlook

This quarterly report provides market analysis for major commodity groups -- energy, metals, agriculture, precious metals, and fertilizers.

Doing Business (stopped)

The Doing Business publication was a series of annual reports measuring the regulations that enhance business activity and those that constrain it.

Global Economic Prospects

This semi-annual report examines global economic developments and prospects, with a special focus on emerging markets and developing countries.

Global Financial Development Report

This report provides a nuanced, practical, and evidence-based approach to financial sector policy. It offers new research and data that help fill gaps in the knowledge on long-term finance.

International Debt Statistics

IDS presents statistics and analysis on the external debt and financial flows (debt and equity) for the world’s economies. This publication provides more than 200 time series indicators from 1970 to 2015 for most reporting countries.

Policy Research Reports (PRRs)

The World Bank's Policy Research Report series brings to a broad audience the results of World Bank research on development policy.
The reports are designed to contribute to the debate on appropriate public policies for developing economies.

Poverty and Shared Prosperity

The Poverty and Shared Prosperity series provides a global audience with the latest and most accurate estimates on trends in global poverty and shared prosperity, as well as in-depth research into policies and interventions that can make a difference for the world’s poorest.

World Development Indicators

The primary World Bank collection of development indicators, compiled from officially-recognized international sources.
It presents the most current and accurate global development data available, and includes national, regional and global estimates.

World Development Reports

The World Development Report is an annual report published since 1978 by the International Bank for Reconstruction and Development or World Bank.
Each WDR provides in-depth analysis of a specific aspect of economic development.

Other Indices

Ease of Doing Business Index	World Bank
World Development Report	World Bank
Global Economic Prospects (GEP) Report	World Bank
Remittance Report	World Bank
Ease of Living Index	World Bank
India Development Update	World Bank
Universal Health Coverage Index	World Bank
The Service Trade Restriction Index	World Bank