6. Conclusion
6.1 Reflections
6.1.1 Further empirical reflections
One of the weaknesses of this paper is that it generalises the benchmarking process based on one case study. Thus, it would be pertinent to adopt the same methodology for a number of
85
other indicators that measure the regulatory performance of countries (e.g. the World Economic Forum’s Global Competitiveness report), to see how the conclusions uncovered here stand up to scrutiny in other cases.
In line with this, it would also be helpful to expand the analysis to include primary sources, to actually understand the roles as the actors themselves perhaps articulate them, rather than relying on the documents used or produced. If only to see how accurate ANT’s focus on materiality is at uncovering the construction of social relations (by seeing how other actors understand their role outside of a report).
Similarly, further research could perhaps go deeper in to the role of the Doing Business team as an epistemic community in global governance, and strictly consider the production of knowledge. The general insight uncovered here through the analysis of the Doing Business programme seems to mesh quite nicely with Peter Haas’ research on knowledge as power in global governance. He argues that usable knowledge, which is “…accurate information that is of use to politicians and policy-makers,” is only legitimate when it is “… seen as accurate, accessible, and contribute[s] to the achievement of collective goals. It must represent
consensus, and be provided through a medium that is politically palatable” (P. Haas, 2004:
574-5). Further research may, however, usefully go into detail as to how this knowledge is actually constructed as useable knowledge by actors or individuals, and how this
knowledge is made valid and legitimate (issues of methodology), which is only briefly covered in this paper.
86
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APPENDICES
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Appendix A1
Table 3 – Indexes and subindexes of the DB2004
Indicator Indexes* Subindexes*
Starting a business
None None
Hiring and firing
workers Employme nt-law inde x
Fle xibility-of-hiring inde x Conditions-of-e mployment Fle xibility-of-firing inde x
Enforcing contracts Proce dural-complexity inde x
Use of profe ssionals Nature of actions Le gal justification
Statutory re gulation of e vide nce Control of supe rior re vie w Othe r statutory inte rventions
Getting Credit
Public cre dit re gistry cove rage inde x (borrowers/1,000 capita)
None
Exte nsive ness-of-Public-Cre dit-Re gistrie s inde x (higher score is better)
Colle ction inde x Distribution inde x Acce ss inde x Quality inde x Private cre dit bure au
cove rage inde x (borrowers/1,000 capita)
None
Cre ditor rights inde x (Scale from 0 to 4; sum of 4 indicators; higher score is better)
Re strictions on e ntering re organization No automatic stay
Se cured creditors are paid first Manage ment doe s not stay in re organization
Closing a business
Goals-of-insolvency inde x
(higher score is better)
Cost of insolve ncy Time of insolve ncy
Obse rvance of absolute priority of claims Efficie nt outcome achieved
Court-powe rs inde x
Whe ther the court appoints and re places the insolve ncy administrator with no re strictions imposed by law
Whe ther the reports of the administrator are accessible only to the court and not cre ditors
Whe ther the court de cide s on the adoption of the re habilitation plan
99
Appendix A2
Table A2 – The actors and articles behind the DB2004 indicators
Indicator Actors involved Journal article
Starting a business (Business
entry/registration)
Simeon Djankov (World Bank) Florencio Lopez-de-Silanes (Yale School of Management) Rafael La Porta (Dartmouth) Andrei Shleifer (Harvard)
The Regulation of Entry (2002) – The Quarterly Journal of Economics
Hiring and firing workers (Employment regulation)
Simeon Djankov (World Bank) Florencio Lopez-de-Silanes (Yale)
Rafael La Porta (Dartmouth) Juan C. Botero (Yale)
Andrei Shleifer (Harvard)
The Regulation of Labor (2004) – The Quarterly Journal of Economics
Enforcing contracts
Simeon Djankov (World Bank) Florencio Lopez-de-Silanes (Yale)
Rafael La Porta (Dartmouth) Andrei Shleifer (Harvard) Lex Mundi (The largest international association of independent law firms)
Courts (2003) – The Quarterly Journal of Economics
Getting Credit (Creditor rights & credit
information systems)
Simeon Djankov Caralee McLeish
Rafael La Porta (Darthmouth) Andrei Shleifer (Harvard) Florencio Lopez-de-Silanes (Yale)
Robert Vishny (University of Chicago)
Baker and McKenzie
International Bar Association Committee on International Financial Law Reform Dun and Bradstreet
Remedies in Credit Markets (2003) - Working Paper.
Department of Economics, Harvard University Law and Finance (1998) - Journal of Political Economy
Closing a business (Bankruptcy)
Simeon Djankov Oliver Hart (Harvard) The Insolvency Committee of the International Bar
Association
The Efficiency of Bankruptcy (2003) - Working Paper.
Department of Economics, Harvard University
100
Appendix A3
Table A3 - References to history or time in the report
Chapter
Numbe r of re fe rences to the past (be yond the
last 30 ye ars) Example
Numbe r of re fe rences to re form (since the
1980s) Example
Overview 5 For example, the company law regulating business entry dates back to 1884 in the Dominican Republic, to 1901 in Angola, and to 1916 in Burkina Faso.
18 Vietnam revised its
Enterprise Law in 1999 to enhance growth in private business activity.
Registering a business
18 Well into the 19th century, European companies required a state charter or a concession from the state to be registered, and only the rich could afford such. In France, free registration for private companies was proclaimed in 1791, in the aftermath of the revolution. In England, free incorporation was allowed in 1844, a consequence of expanding the franchise to the middle classes.
30 In the Russian Federation, a 2002 reform transferred all registration powers to the State Tax Inspectorate, thereby cutting the number of business entry procedures from 19 to 12.
Employing workers
5 And what was appropriate in, say, 1933, when Portugal adopted its constitutional protections of workers, may not be appropriate today, because circumstances, technology, and business organization have changed.
29 Since then, regulation has been continually undergoing reform – every developed country except the United States has made major revisions to its labor regulation since 1990 Enforcing
contracts
11 Going back 400 years, Shakespeare’s Hamlet lists court delays among the calamities of life:
“The oppressor’s wrong, the proud man’s contumely, the pangs of despised love, the law’s delay.”
21 Tunisia, the world’s leader in speedy resolution of commercial disputes, is perhaps the most surprising.
Its current procedures were put in place only in 1996.
Getting credit
5 Forma l institutions for credit information sharing emerged in the 17th century in Paris, where notaries exchanged data on debtors’
creditworthiness—and in Amsterdam, where the municipality initiated a precursor to the modern public credit information registry.
10 In Malaysia, a new online real-time system was introduced in the public registry in 2001.
Almost half of the registries surveyed reported the intention to upgrade their technology.
Closing a business
14 In the least effective countries, the average
bankruptcy law is more than 40 years old. 36 The average age of the bankruptcy law in the 10 best-practice countries—
Belgium, Canada, Finland, Ireland, Japan, the Republic of Korea, Latvia, the Netherlands, Norway, and Singapore—is six years.
The practice of
regulation
5 Napoleon exported the French legal system, after his conquests, to Spain, Portugal, and Holland. Through his and subsequent colonial conquests, the French legal system was transplanted to all of Latin America, Quebec, large parts of Europe, North and West Africa, parts of the Caribbean, and parts of Asia.
9 Countries that consistently perform well across the DB indicators do so because of continuous reform. Denmark revised its business entry regulations in 1996 by removing several procedures, making the process electronic, and eliminating all fees.