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Vol.
8 #1, September 2008
Singapore Tops List for Ease of Doing Business
The World Bank ranked Singapore as the easiest country in which to do
business, followed by New Zealand, and the United States for the third
year in a row. Hong Kong, Denmark, United Kingdom, Ireland and
Canada followed in the same order as they did last year.
Australia (#9) and Norway (#10) switched their positions from last year
and rounded out the top 10.
The World Bank ranks economies from 1 – 181, with first place
being the best. A high ranking on the ease of doing business index
means the regulatory environment is conducive to the operation of
business. This index averages the country's percentile rankings on 10
topics (Starting a Business, Dealing with Construction Permits,
Employing Workers, Registering Property, Getting Credit, Protecting
Investors, Paying Taxes, Trading Across Borders, Enforcing Contracts,
and Closing a Business), giving equal weight to each topic.
Large economies that fell in the rankings include Germany, which
dropped to 25 from 20, Mexico, to 56 from 42, and Russia, to 120 from
112.
The rankings are from the Doing Business 2009 report, covering the
period April 2007 to June 2008. The rankings do not reflect
macroeconomic policy, infrastructure, currency volatility, investor
perceptions or crime rates, nor do they account for an economy’s
proximity to large markets, the quality of its infrastructure services
(other than services related to trading across borders or construction
permits), the security of property from theft and looting,
macroeconomic conditions or the strength of underlying institutions.
More details on the rankings and a full copy of the Doing Business 2009 is available at http://www.doingbusiness.org.
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