On Values and Methodology of Law-based Business Environment——By Reference to World Bank's Ease of Doing Business Rankings
Advancing global institutional reform,reducing or even eliminating absolute poverty,and promoting common prosperity are the core values of the World Bank's ease of doing business rankings,which are inherently connected with the initial value of the rule of law that pursues the"the greatest benefit to the least advantaged".The essence of promoting the ease of doing business is to reduce institutional transaction costs.The rule of law is embedded in every aspect of each indicator in the World Bank's ease of doing business rankings and has become an endogenous part of each indicator.The World Bank,in its ease of doing business rankings,places great emphasis on striking a balance between corporate flexibility and overall social benefits.China should establish a team of high-level experts to accurately interpret and publicize the World Bank's BR system,correct errors in the original text of World Bank on methodology,and promote its participation in the formulation of international rules.Meanwhile,China should establish the notion of seeking similarities in the economic field and allowing differences in the social field,actively align with high-standard international economic and trade rules,introduce the"list-based"management mode and"event-triggering"legislative model which align with advanced international standard,and develop a legislative paradigm and several core systems based on the needs of businessmen.
Work Bank's RankingsValuesMethodologyRule of LawSuggestions for Improvement
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