Eastern Europe and Central Asia
Exactly one year ago, the Financial Times gave a positive gloss on Uzbekistan’s economic prospects. One of the sources for the FT’s take on Uzbekistan was Alisher Ali Djumanov, a managing partner at Eurasia Capital Management and (as the article points out) the only alumnus of Insead in the country. He had this to say:
Few would contest that the internet revolution has saved us a lot of time keeping in touch with others and conducting searches. For firms, time saved is labor saved and this is particularly attractive in countries that have stricter labor laws. What I’m suggesting here is that stricter labor laws may encourage firms to adopt modern labor-saving technologies such as the internet and computers. In theory this could magnify the adverse effect of stricter labor laws on employment and wages documented in the literature. So what does the data tell us?
Editor's Note: Peter Kusek is an Investment Policy Officer with the Investment Climate Advisory Services of the World Bank Group.
Microfinance has been getting its fair share of attention lately.
A presentation this afternoon sponsored by the Development Research Group of the World Bank promises to generate some heat (and hopefully some light as well). Justin Lin, Chief Economist of the World Bank, will be on a panel with Bill Easterly, professor at New York University and author of The White Man's Burden, to discuss Industrial Policy and the Role of the State in Promoting Growth.
The Enterprise Surveys team has introduced a new product called Country Notes. This series of notes provide a customized snapshot of a country’s business environment relative to other economies surveyed in the region. While the survey fieldwork itself is a complex task, the notes themselves provide succinct analyses and policy recommendations based on the collected data.
In The Rise and Decline of Nations, Mancur Olson argued that interest groups like business associations (BAs) always pursue distributive objectives, seeking unproductive rents rather than benefitting the public. Subsequent work on collective action culminating in the New Institutional Economics continued to adopt this negative view of BAs.