Muhammedov M.A.
THE WORLD BANK APPROACH: FROM «DOING BUSINESS» TO «BE READY» *
Аннотация:
this abstract examines the World Bank's approach to economic development, which is based on two key aspects: Doing Business and Preparedness. “Doing Business” implies creating favorable conditions for entrepreneurs, reducing administrative barriers and simplifying procedures for registering and doing business. “Readiness” means creating infrastructure, providing access to financial resources, and developing the skills and knowledge needed for successful business and economic growth
Ключевые слова:
analysis, method, research, innovation, economics
The World Bank's Doing Business project was a widely used tool for assessing the business environment in countries around the world. However, the project was criticized for its methodology, which was seen as being too focused on deregulation and not enough on other important factors, such as the rule of law and corruption.
In 2021, the World Bank announced that it was discontinuing the Doing Business project and would be developing a new approach to assessing the business environment. This new approach, called B-Ready, was launched in 2023.
B-Ready is designed to be more comprehensive and balanced than Doing Business. It takes into account a wider range of factors, including the rule of law, corruption, and access to finance. B-Ready also places a greater emphasis on the quality of regulation, rather than simply the quantity of regulation.
The World Bank hopes that B-Ready will be a more useful tool for policymakers and businesses alike. It believes that B-Ready will provide a more accurate and nuanced picture of the business environment in different countries.
Key Differences Between Doing Business and B-Ready
Here are some of the key differences between Doing Business and B-Ready:
Benefits of B-Ready
The World Bank believes that B-Ready will offer a number of benefits over Doing Business, including:
Conclusion
The World Bank's B-Ready project is a new approach to assessing the business environment in countries around the world. B-Ready is designed to be more comprehensive and balanced than Doing Business, and it takes into account a wider range of factors, including the rule of law, corruption, and access to finance. The World Bank believes that B-Ready will be a more useful tool for policymakers and businesses alike, and that it will provide a more accurate and nuanced picture of the business environment in different countries.
In the modern world, the World Bank plays an important role in the economic development of various countries. One of the key approaches used by the World Bank is a combination of two aspects: “doing business” and “being prepared”.
“Doing Business” involves creating favorable conditions for the development of entrepreneurship, reducing administrative barriers, simplifying procedures for registering enterprises and doing business in general. The World Bank is actively working to improve countries' rankings in the Doing Business ranking, which shows how easy and quick it is to start a business in a particular country.
However, “doing business” alone is not enough for sustainable economic growth. The second aspect of the World Bank's "be prepared" approach involves a country's readiness for economic growth and development. This includes creating the necessary infrastructure, ensuring the availability of financial resources for entrepreneurs and equipping the population with the necessary skills and knowledge to successfully run a business.
This approach has already shown its effectiveness in a number of countries where, thanks to cooperation with the World Bank, it was possible to significantly improve the business environment and ensure economic growth. However, work in this direction continues, and the World Bank continues to look for new ways to support developing countries and promote their economic development.
Номер журнала Вестник науки №10 (67) том 2
Ссылка для цитирования:
Muhammedov M.A. THE WORLD BANK APPROACH: FROM «DOING BUSINESS» TO «BE READY» // Вестник науки №10 (67) том 2. С. 12 - 15. 2023 г. ISSN 2712-8849 // Электронный ресурс: https://www.вестник-науки.рф/article/10159 (дата обращения: 17.05.2024 г.)
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