Abstract
The aim of this study is to analyze the impact of Ease of Doing Business on economic growth. In this perspective, the study covered a sample of 44 African countries over the period 2010–2018. A World Bank aggregate Ease of Doing Business index is used, and economic growth is measured by the real annual GDP growth rate. In addition, the impact of Ease of Doing Business on economic growth is examined in a dynamic framework using the System Generalized Method of Moments (System-GMM) estimation. The results show a positive and significant effect of Ease of Doing Business on economic growth, suggesting that business regulatory reforms are a means for African countries to achieve and sustain economic growth.
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The data that support the findings of this study are available from the corresponding author, upon a reasonable request.
Notes
In this paper, Ease of Doing Business and business regulatory/regulation are used interchangeably to refer to governments' efforts to improve the business environment in which enterprises operate.
MENA countries consist of Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
These include: the number of procedures and the time needed to start a business, obtain a building permit, obtain property rights, obtain electricity; the number and time to pay taxes, etc. (World Bank 2020).
For more details on critiques of public interest regulation theory, see Hertog (2010).
According to Acemoglu et al. (2005), these are contracts between owners and managers, workers and employers, etc.
The dimensions concerned are, among others starting a business, hiring and firing, registering property, getting credit, protecting investors, enforcing contracts, closing a business.
It is for example, the reduction of the time, the number of procedures, starting a business, obtaining electricity; increasing the legal rights of creditors and minority shareholders; …
For more details on the Doing Business methodology (see World Bank 2020; pp 77–86).
All authors other than Eifert (2009) have used ordinary least squares (OLS), two-stage least squares (2SLS), fixed-effects or random-effects models.
In 2014, we considered the obtained index of the Ease of Doing Business according to the Doing Business 2004–2014 methodology. The index obtained according to the Doing Business 2015 methodology is very similar to that of the Doing Business 2004–2014 methodology. Both achieve the same aims of this study. However, the results with the index obtained in 2014 using the Doing Business 2015 methodology were not presented due to space limitations.
In the theoretical models of Peretto (2007a, b, c, 2008), the framework for analyzing the relationship between government regulation (taxes) and economic growth adapted in Dawson and Seater's (2013) study is placed in the context of endogenous growth theories. This adaptation is also valid for this study.
Given the variable X the transformation gives \({X}_{it}^{*}=\sqrt{\frac{T-t}{T-t+1}}\left[{X}_{it}-\frac{1}{T-t}({X}_{i(t+1)}+\dots +{X}_{iT})\right]\)
It should ensure that taxes are proportionate and not arbitrary, and that the method of paying taxes is convenient to taxpayers (World Bank 2018).
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I am grateful to Chaffa Odjouwoni Lucien Chaffa (Université de Montréal), Jeffrey Kouton (Consultant at AfDB) and Richard Kouamé Moussa (PhD, Teacher-Researcher at ENSEA of Abidjan) for their suggestions that contributed to enhancing the early version of this paper.
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Bétila, R.R. The impact of Ease of Doing Business on economic growth: a dynamic panel analysis for African countries. SN Bus Econ 1, 144 (2021). https://doi.org/10.1007/s43546-021-00143-9
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DOI: https://doi.org/10.1007/s43546-021-00143-9