New Delhi,
\nWith its own chief economist raising doubts over \u2018doing business\u2019 rankings of certain countries, World Bank has said ranking indicators and methodology are<\/p>\n
designed with no single country in mind and rankings are based on \u201chard data\u201d.<\/p>\n
The World Bank\u2019s chief economist Paul Romer told The Wall Street Journal on Friday that the organisation changed the methodology of its \u2018doing business\u2019<\/p>\n
rankings in ways that were unfair and misleading, and the organisation will recalculate the rankings for at least the past four years.<\/p>\n
\u201cWe treat all countries equally in our research, and the Doing Business indicators and methodology are designed with no single country in mind but so that the<\/p>\n
overall business climate can be improved,\u201d the World Bank said in a statement.<\/p>\n
Romer had cast doubts over Chile\u2019s ranking and had not said anything on India, which in the latest ranking jumped 30 places to be ranked 100th out of 190<\/p>\n
countries after it implemented reforms in most indicators, including starting a business, getting credit, paying taxes and resolving insolvency.<\/p>\n
In Chile\u2019s case, however, the methodological changes could have been politically motivated, and that it was not driven by an actual deterioration in the South<\/p>\n
American nation\u2019s business environment, he had reportedly said.<\/p>\n
\u201cOver the 15 years of its existence, the Doing Business Index has been an invaluable tool for countries looking to improve their business climate, tracking<\/p>\n
thousands of reforms,\u201d the World Bank said.<\/p>\n
Since then, \u2018doing business\u2019 has undergone a number of reviews \u2014 both internal and external \u2014 and \u201cwe are always looking for new ways to refine and<\/p>\n
strengthen its methodology,\u201d the bank said.<\/p>\n
\u201cAny changes to the Doing Business methodology are done through a rigorous consultative process, where our Board, individual countries, practitioners,<\/p>\n
academics, and staff across the Bank Group can provide input.<\/p>\n
\u201cThe indicators are based on hard data, such as actual tax rates and legislation passed, and they are subjected to internal and external validation. Objective data<\/p>\n
is not subject to political influence,\u201d it said.<\/p>\n
On concerns expressed by Romer, the World Bank said it \u201cwill conduct an external review of Chile\u2019s indicators in the Doing Business report\u201d.<\/p>\n
While Chile\u2019s rank in the World Economic Forum\u2019s global competitiveness report has hovered between 33 and 35 in the past five years, its \u2018doing business\u2019<\/p>\n
position has been more volatile.<\/p>\n
Since 2006, Chile\u2019s presidency has alternated between socialist Michelle Bachelet, who was in office from 2006 to 2010 and from 2014 to now, and pro-<\/p>\n
business Sebastian Pinera, who was in office from 2010 to 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, With its own chief economist raising doubts over \u2018doing business\u2019 rankings of certain countries, World Bank has said ranking indicators and methodology are designed with no single country in mind and rankings are based on \u201chard data\u201d. The World Bank\u2019s chief economist Paul Romer told The Wall Street Journal on Friday that the […]<\/p>\n","protected":false},"author":1,"featured_media":18729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-18728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=18728"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18728\/revisions"}],"predecessor-version":[{"id":18730,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18728\/revisions\/18730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/18729"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=18728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=18728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=18728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}