"Regulation is purportedly enacted to serve specific social purposes. In reality, however, it follows a more complex political economy process, where legitimate social goals are mixed with the objectives of particular interest groups. Whatever its justification and objectives, regulation can...

"This paper examines legal and regulatory measures that can be taken to promote access to the primary market in emerging market economies. While capital market development depends on many factors including, primarily, a favorable macroeconomic environment, an appropriately designed and effective...

This paper focuses on core aspects of the political economy of reform, drawing on case studies of three economies transitioning to stronger business environments (Hungary, the Republic of Korea, and Mexico) and three countries with well-developed business environments (Australia, Italy, and the...

Changes in demographics and patterns of investment in human capital are creating opportunities for international trade in professional services. As populations in rich countries age, developing countries are seeing an increase in the proportion of working-age people. At the same time, the...

"This study reviews regulatory instruments designed to reduce environmental externalities from the transport sector. The study finds that the main regulatory instruments used in practice are fuel economy standards, vehicle emission standards, and fuel quality standards. Although industrialized...

Since investment climate reforms in developing countries started gaining traction in the 1990s, most efforts have focused on issues at the national level, achieving varying degrees of success for reasons that are relatively well understood. This handbook provides an overview of efforts and...

With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts,...

Competition can drive productivity growth in Kosovo, especially in the context of the post-Coronavirus disease 2019 (COVID-19) recovery. As the economy rebuilds, it is key that markets function smoothly, and that anticompetitive firm behavior or government intervention do not constrain the path...