{"id":135200,"date":"2021-09-18T20:07:11","date_gmt":"2021-09-18T14:37:11","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=135200"},"modified":"2021-09-21T14:36:32","modified_gmt":"2021-09-21T09:06:32","slug":"world-bank-discontinues-doing-business-rankings","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/world-bank-discontinues-doing-business-rankings\/","title":{"rendered":"World Bank discontinues Doing Business rankings"},"content":{"rendered":"\n<h5><strong>What is the News?<\/strong><\/h5>\n<p>The World Bank Group has recently<strong> decided to discontinue publication of its \u2018Doing Business\u2019 rankings<\/strong>.<\/p>\n<h5><strong>About the Doing Business Report<\/strong><\/h5>\n<p>Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy.<\/p>\n<p><strong>Read more<\/strong>: <a href=\"https:\/\/forumias.com\/blog\/doing-business-report\/\" target=\"_blank\" rel=\"noopener\">World Bank\u2019s\u00a0Doing Business Report<\/a><\/p>\n<p><strong>What led to the decision?<\/strong><\/p>\n<p>In August 2020, the World Bank paused the publication of Doing Business reports following a number of irregularities were reported regarding changes to the data. The <strong>irregularities had affected four countries<\/strong>: <strong>China; Saudi Arabia; United Arab Emirates; and Azerbaijan<\/strong>.<\/p>\n<p>The World Bank has later confirmed that the <strong>changes were inconsistent with the Doing Business methodology<\/strong>.<\/p>\n<p>An independent probe of <strong>data irregularities cited \u201cundue pressure\u201d by top bank officials<\/strong>, including the World Bank\u2019s former CEO, to boost China\u2019s ranking in 2017. <span style=\"font-family: var(--list--font-family); background-color: var(--global--color-background); color: var(--global--color-primary); font-size: var(--global--font-size-base);\">This raised ethical matters involving former bank staff and board officials in calculating the rankings.<\/span><\/p>\n<h5><strong>Why the report is important?<\/strong><\/h5>\n<p>The World Bank\u2019s annual report matters to several nations, especially developing ones. The report <strong>greatly influences investor decisions<\/strong> by releasing a ranking of economies based on how easy it is to open up, and operate, a business.<\/p>\n<p>On the other hand, many governments criticized the rankings for their methodology that inaccurately captured the realities on the ground.<\/p>\n<p><strong>What will be done in the future?<\/strong><\/p>\n<p>The World Bank has now said that a <strong>new approach will be worked out to assess countries<\/strong>&#8216; business and investment climates.<\/p>\n<p><b>Source:\u00a0<\/b>This post is based on the article<b> \u201cWorld Bank discontinues Doing Business rankings<\/b><b>\u201d\u00a0<\/b>published in<b> The Hindu <\/b>on\u00a0<b>18th September 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? The World Bank Group has recently decided to discontinue publication of its \u2018Doing Business\u2019 rankings. About the Doing Business Report Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy. Read more: World Bank\u2019s\u00a0Doing Business Report What led to&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/world-bank-discontinues-doing-business-rankings\/\">Continue reading <span class=\"screen-reader-text\">World Bank discontinues Doing Business rankings<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164],"tags":[8671,9824,8778,2188],"class_list":["post-135200","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","tag-changes-in-industrial-policy","tag-doing-business-index","tag-important-international-institutions","tag-world-bank","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/135200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=135200"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/135200\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=135200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=135200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=135200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}