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competition

Product market competition, regulation and inclusive growth

Ivailo Izvorski's picture

It is hard to overemphasize the role of productivity growth in reducing poverty and raising living standards.  Sustained productivity increases have made possible the unprecedented rise in prosperity over the last two centuries.  Recent evidence suggests that productivity growth has been on the decline around the world for the last decade, with a few exceptions.  Understanding whether this is correct, and, if so, what explains it and what can be done, are now priorities for economists and policymakers. 

Which features of procurement systems increase competition and reduce corruption?

Steve Knack's picture

Public procurement of services, works and supplies is estimated to account for 15-20% of GDP in developing countries, and up to 50% or more of total government expenditure. Efficient and effective procurement is vital to core government functions, including public service delivery and provision of infrastructure. Weaknesses in procurement systems can lead to large-scale waste of public funds, reduced quality of services, corruption, and loss of trust in government.