The World Bank's Enterprise Surveys team has published a new survey of businesses in Eastern Europe, analyzing the long-term effects of the financial crisis in the region. The report looks at survey data collected last summer from over 1,600 firms in Bulgaria, Hungary, Latvia, Lithuania, Romania and Turkey, finding that the crisis has had a detrimental effect on demand:
NPR story cited World Bank report
In the report, "Iraq's Shaky Economy Poses Threat to Future," NPR cites The World Bank's Doing Business report that ranks economies based on the ease of doing business in particular countries:
The process of setting up a business in Iraq requires 11 procedures,
The World Bank and IFC are featuring several excellent events this week that are well-worth attending.
A distinction is often made between informal firms operating within, versus outside, household premises. In some sense, the former represent the quintessential informal firms beset with a number of problems, such as low efficiency, etc. Policies aimed at bringing informal firms into the fold of the formal sector could therefore be expected to have a bigger impact when targeted toward informal firms operating within, rather than outside, the household.
Last year I speculated about the potential impact of the financial crisis on the environment for microfinance.
The 2006 and 2007 Doing Business reports both found that Armenia has been reforming in the area of credit. Armenian lenders can now rely on a credit registry when deciding on loan applications. But have these reforms really had an impact?