Addressing Regulatory Software Barriers to Business Growth

This policy paper explores the relative importance of the software regulatory barriers to growth in Pakistan. Such software barriers have been identified as part of the major constraint in the Framework for Economic Growth of the Government of Paki...

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Bibliographic Details
Main Authors:	Kularatne, Chandana, Lopez-Calix, Jose
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCESS TO FINANCE ACCESSIBILITY ACCOUNTING ADMINISTRATIVE BURDEN ADMINISTRATIVE COST AGRICULTURAL PRODUCTS APPROVAL PROCESS BANK FINANCING BANK POLICY BANKRUPTCY BANKRUPTCY LAWS BANKS BARRIERS TO BUSINESS GROWTH BARRIERS TO ENTRY BARRIERS TO GROWTH BINDING CONSTRAINT BRANCHES BRIBES BUSINESS DEVELOPMENT BUSINESS ENTERPRISE BUSINESS ENVIRONMENT BUSINESS INCORPORATION BUSINESS STARTUP CAPITAL VALUE CASH FLOW COAL COLLATERAL COLLATERAL LAWS COLLATERAL REQUIREMENTS COMPANY COMPETITORS COMPLIANCE COST CONTRACT ENFORCEMENT CORPORATION CORRUPTION CREDIT INFORMATION CREDIT REGISTRIES CREDIT REGISTRY DEED DOCUMENTATION REQUIREMENTS DOMESTIC MARKET DOMESTIC MARKETS E-GOVERNMENT ECONOMIC ACTIVITY ECONOMIC COOPERATION ECONOMIC GROWTH EDUCATION LEVEL EDUCATIONAL ATTAINMENT EMPLOYEE EMPLOYMENT EMPLOYMENT GROWTH ENFORCEMENT OF CONTRACT ENFORCEMENT OF CONTRACTS ENTREPRENEUR ENTREPRENEURS ENTREPRENEURSHIP EQUIPMENT EXCHANGE COMMISSION EXPANSION FACILITATION FEDERAL TAX FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INTERMEDIARIES FINANCIAL STATEMENT FINANCIAL STRESS FIRM PERFORMANCE FIRM SIZE FIRM SIZES FIXED ASSETS FLAT FEE FOREIGN MARKET FOREIGN MARKETS GOVERNANCE ISSUES GOVERNMENT INVOLVEMENT HANDICRAFTS HOLDING HUMAN RESOURCES IMMOVABLE PROPERTY INCOME TAX INFORMAL ECONOMY INFORMATION ASYMMETRY INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENTS INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL MARKETS INVESTMENT CLIMATE JOINT VENTURES JUDICIAL INSTITUTIONS JUDICIAL SYSTEM LABOR MARKET LABOR PRODUCTIVITY LAND AS COLLATERAL LAND RECORDS LAND REGISTRATION LEGAL RIGHTS LENDERS LETTER OF CREDIT LICENSING LIMITED ACCESS LIMITED LIABILITY LINE OF CREDIT LIQUIDITY LOAN LOAN AMOUNTS LOAN SIZE LOCAL MARKET MACROECONOMIC STABILITY MANUFACTURING ENTERPRISES MANUFACTURING ESTABLISHMENTS MARKET DEVELOPMENT MARKET INFORMATION MARKET STRUCTURE MEDIUM ENTERPRISES MOVABLE GOODS NEW BUSINESSES OPERATING COSTS OVERDRAFT OVERDRAFT FACILITY PAYMENT SYSTEMS POTENTIAL INVESTORS PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE CREDIT BUREAUS PRIVATE SECTOR DEVELOPMENT PRODUCTION COSTS PROFITABILITY PROPERTY RIGHTS PROPERTY TAX PROTECTION OF INVESTORS PUBLIC CREDIT PUBLIC POLICY PUBLIC SALE QUALITY STANDARDS REGISTRATION FEE REGISTRATION PROCESS REGISTRATION REQUIREMENTS REGULATORY BARRIERS REGULATORY BURDEN REGULATORY BURDENS REGULATORY FRAMEWORK REGULATORY REFORMS RESERVE RETAINED EARNINGS RETURN ROAD INFRASTRUCTURE SAVINGS SAVINGS ACCOUNT SEES SHAREHOLDER SMALL FIRM SMALL FIRMS SOCIAL SECURITY STAMP DUTY STAMP DUTY RATES TARIFF POLICY TAX TAX BURDEN TAX LEGISLATION TAX POLICY TAX RATE TAX RATES TAX REGIME TAX SYSTEM TAXATION TELEPHONE LINE TRADING TRANSACTION TRANSACTION COSTS TURNOVER UNEMPLOYMENT VALUE OF COLLATERAL WAREHOUSE WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2012/12/19305726/addressing-regulatory-software-barriers-business-growth http://hdl.handle.net/10986/17876

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Summary:	This policy paper explores the relative importance of the software regulatory barriers to growth in Pakistan. Such software barriers have been identified as part of the major constraint in the Framework for Economic Growth of the Government of Pakistan. Indeed, adequate software is needed to provide an environment in which the hardware of growth (physical infrastructure) could be expanded and made more productive. Among possible software constraints, the findings of various international surveys allow to disentangle the relative importance of multiple possible regulatory barriers; first by identifying what is in the books, and then by assessing what is actually experienced on the ground by entrepreneurs. Following the ensuing prioritization of the identified barriers, this paper suggests that the new growth strategy would benefit from focused policy efforts in seven key areas, where regulatory barriers and perceived obstacles are most constraining to business development: getting electricity, paying taxes, enforcing contracts, registering property, obtaining construction permits, starting a business, trading across barriers, and having access to finance (particularly among small firms). The paper also expounds a detailed description of the provincial disaggregation of those barriers, which attempt to complement the general findings and allow for provincially-led customized solutions.

Addressing Regulatory Software Barriers to Business Growth

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