Reforming the Investment Climate : Lessons for Practitioners

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collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Kikeri, Sunita
dc.contributor.author
Kenyon, Thomas
dc.contributor.author
Palmade, Vincent
dc.date.accessioned
2012-06-18T21:09:14Z
dc.date.available
2012-06-18T21:09:14Z
dc.date.issued
2006-08
dc.date.lastModified
2021-04-23T14:02:41Z
dc.description.abstract
Most people agree that a good investment climate is essential for growth and poverty reduction. Less clear is how to achieve it. Many reforms are complex, involving more than technical design and content. They are both political, facing opposition from organized and powerful groups-and institutionally demanding, cutting across different departments and levels of government. Reform thus requires paying as much attention to understanding the politics and institutional dimensions as to policy substance, which is the goal of this paper. Drawing from more than 25 case studies, it shows that there is no single recipe or "manual" for reform, given diverse contexts and serendipity in any reform effort. But three broad lessons emerge. The first is to recognize and seize opportunities for reform. Crisis and new governments are important catalysts, but so is the competition generated by trade integration and new benchmarking information. The second is to invest early in the politics of reform. Central to this process is using education and persuasion strategies to gain wider acceptance and neutralize opponents. Pilot programs can be valuable for demonstrating the benefits and feasibility of change. And the third is to pay greater attention to implementation and monitoring. This does not require full scale public management reforms. Reformers can draw on private sector change management techniques to revitalize public institutions responsible for implementation. Given the cross-cutting nature of reform, new oversight mechanisms may be needed to monitor and sustain reform. The paper concludes with an emerging checklist for reformers and identifies areas for future work.
en
dc.identifier
http://documents.worldbank.org/curated/en/2006/08/6969667/reforming-investment-climate-lessons-practitioners
dc.identifier.uri
http://hdl.handle.net/10986/8365
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Policy Research Working Paper; No. 3986
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ADVERSE EFFECTS
dc.subject
ADVOCACY EFFORTS
dc.subject
APPROPRIATE INCENTIVES
dc.subject
BARRIERS TO ENTRY
dc.subject
BENCHMARK
dc.subject
BENCHMARKING
dc.subject
BLUEPRINT
dc.subject
BUREAUCRACIES
dc.subject
BUREAUCRACY
dc.subject
BUREAUCRATS
dc.subject
CAPITAL MARKET
dc.subject
CAPITAL MARKETS
dc.subject
CATALYSTS
dc.subject
CHANGE MANAGEMENT
dc.subject
CITIZENS
dc.subject
COMPETITION POLICY
dc.subject
COMPETITIVENESS
dc.subject
CONSUMER GROUPS
dc.subject
DECENTRALIZATION
dc.subject
DECISIONMAKING
dc.subject
DEMOCRACY
dc.subject
DEREGULATION
dc.subject
DEVELOPING COUNTRIES
dc.subject
ECONOMETRIC ANALYSIS
dc.subject
ECONOMIC COOPERATION
dc.subject
ECONOMIC MANAGEMENT
dc.subject
ECONOMIC OUTLOOK
dc.subject
ECONOMIC PERFORMANCE
dc.subject
ECONOMIC STRUCTURE
dc.subject
EDUCATION SYSTEMS
dc.subject
ENTERPRISE LAW
dc.subject
ENTREPRENEURS
dc.subject
EXECUTIVES
dc.subject
FINANCIAL CRISES
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL SECTOR
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FREE TRADE
dc.subject
GDP
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSTITUTIONAL MECHANISMS
dc.subject
INTERNATIONAL AGREEMENTS
dc.subject
JURISDICTION
dc.subject
LABOR CODE
dc.subject
LABOR MARKET
dc.subject
LABOR MARKETS
dc.subject
LACK OF INFORMATION
dc.subject
LEGISLATION
dc.subject
LEGISLATORS
dc.subject
LESS DEVELOPED COUNTRIES
dc.subject
MACROECONOMIC STABILIZATION
dc.subject
MARKET ACCESS
dc.subject
MARKET INFORMATION
dc.subject
MARKET REFORM
dc.subject
MARKET REFORMS
dc.subject
MEDIA
dc.subject
MODERNIZATION
dc.subject
NATIONAL LEVEL
dc.subject
NATIONAL LEVELS
dc.subject
ORGANIZATIONAL CHANGE
dc.subject
ORGANIZATIONAL CULTURE
dc.subject
POLICIES
dc.subject
POLICY CHANGE
dc.subject
POLICY DECISIONS
dc.subject
POLICY RESEARCH
dc.subject
POLICY RESEARCH WORKING PAPER
dc.subject
POLITICAL CHANGE
dc.subject
POLITICAL ECONOMY
dc.subject
POLITICAL LEADERSHIP
dc.subject
POLITICAL PARTIES
dc.subject
POLITICAL PROCESS
dc.subject
POLITICAL SUPPORT
dc.subject
POLITICAL SYSTEMS
dc.subject
POPULAR SUPPORT
dc.subject
POPULATION
dc.subject
POVERTY REDUCTION
dc.subject
PRACTITIONERS
dc.subject
PROBABILITY
dc.subject
PRODUCERS
dc.subject
PRODUCT MARKET
dc.subject
PRODUCT MARKETS
dc.subject
PROGRESS
dc.subject
PROPERTY RIGHTS
dc.subject
PUBLIC ATTENTION
dc.subject
PUBLIC OFFICIALS
dc.subject
PUBLIC POLICY
dc.subject
PUBLIC SERVICES
dc.subject
PUBLIC SUPPORT
dc.subject
REFORM EFFORT
dc.subject
REFORM PROCESS
dc.subject
REFORM PROCESSES
dc.subject
REFORMS
dc.subject
SOCIAL PROTECTION
dc.subject
SOCIAL WELFARE
dc.subject
SPREAD
dc.subject
TRADE LIBERALIZATION
dc.subject
TRADE REFORMS
dc.subject
TRADE UNIONS
dc.subject
UNEMPLOYMENT
dc.subject
UNIONS
dc.subject
VOTERS
dc.subject
WAR
dc.subject
WORLD TRADE ORGANIZATION
dc.title
Reforming the Investment Climate : Lessons for Practitioners
en
okr.crosscuttingsolutionarea
Public-Private Partnerships
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2006/08/6969667/reforming-investment-climate-lessons-practitioners
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Social, Urban, Rural and Resilience
okr.globalpractice
Finance and Markets
okr.globalpractice
Health, Nutrition, and Population
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-3986
okr.identifier.externaldocumentum
000016406_20060803152048
okr.identifier.internaldocumentum
6969667
okr.identifier.report
WPS3986
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/08/03/000016406_20060803152048/Rendered/PDF/wps3986.pdf
en
okr.topic
Economic Theory and Research
okr.topic
Macroeconomics and Economic Growth :: Markets and Market Access
okr.topic
Health, Nutrition and Population :: Population Policies
okr.topic
Social Development :: Children and Youth
okr.topic
Enterprise Development and Reform
okr.topic
Private Sector Development
okr.unit
Development Research Group (DECRG)
okr.volume
1 of 1

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