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 […]<\/p>\n","protected":false},"author":1,"featured_media":18729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"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}]}}