The authors analyze how property rights
affect the allocation of firms' available resources
among different types of assets. In particular, they
investigate empirically for a large number of countries
whether firms in environments with more secure property
rights allocate available resources more toward intangible
assets and consequentially grow faster. The authors find
that improved asset allocation due to better property rights

With the recent resurgence of interest
in equity, inequality, and growth, the possibility of a
negative relationship between inequality and economic
growth, has received renewed interest in the literature.
Faced with the prospect that high levels of inequality may
persist, and give rise to poverty traps, policymakers are
paying more attention to the distributional implications of
macroeconomic policies. Because high levels of inequality

The performance of the East Asian
transition economies in export and income growth has been
strikingly better than that of countries in Eastern Europe
and the former Soviet Union. The East Asian economies have
achieved remarkably high growth rates in outputs and exports
without the often large declines in output and exports
observed in Eastern Europe and the former Soviet Union. East
Asian reformers have successfully made many of the parallel

The literature argues that the presence
of multiple veto players (government decisionmakers) with
polarized interests increases the credibility of sovereign
commitments, but reduces the ability of governments to
adjust policies in the event of exogenous shocks that
jeopardize their ability to honor their commitments. In the
case of sovereign lending, if the first effect prevails,
countries would be regarded as more creditworthy; if the

Most efforts to trace the effects of
income inequality on growth have focused on redistribution.
However, empirical investigation has not substantiated
either the positive association of income inequality with
redistribution or the negative association of redistribution
with economic growth. The authors analyze the effects of
inequality in the broader context of social polarization.
They argue that social polarization, whether rooted in

This regional profile presents the Doing
Business indicators for economies in East Asia and the
Pacific (EAP). It also shows the regional average, the best
performance globally for each indicator and data for the
following comparator regions: Europe and Central Asia,
European Union, Latin America, South Asia, and OECD High
Income. The data in this report are current as of June 1,
2013, except for the paying taxes indicators, which cover

Within the next two decades Indonesia
aspires to generate prosperity, avoid a middle-income trap
and leave no one behind as it tries to catch up with
high-income economies. These are ambitious goals. Realizing
them requires sustained high growth and job creation, as
well as reduced inequality. Can Indonesia achieve them? This
report argues that the country has the potential to rise and
become more prosperous and equitable. But the risk of

This report supports a joint World
Bank-IFC initiative to review and evaluate economic growth
prospects for Khatlon oblast in order to develop a private
sector-driven strategy for accelerating the region's
growth over the medium term.

This economy profile presents the Doing
Business indicators for Myanmar. In a series of annual
reports, Doing Business assesses regulations affecting
domestic firms in 189 economies and ranks the economies in
10 areas of business regulation, such as starting a
business, resolving insolvency and trading across borders.
This year's report data cover regulations measured from
June 2012 through May 2013. The report is the 11th edition

This economy profile presents the Doing
Business indicators for New Zealand. In a series of annual
reports, Doing Business assesses regulations affecting
domestic firms in 189 economies and ranks the economies in
10 areas of business regulation, such as starting a
business, resolving insolvency and trading across borders.
This year's report data cover regulations measured from
June 2012 through May 2013. The report is the 11th edition

This economy profile presents the Doing
Business indicators for Macedonia. In a series of annual
reports, Doing Business assesses regulations affecting
domestic firms in 189 economies and ranks the economies in
10 areas of business regulation, such as starting a
business, resolving insolvency and trading across borders.
This year's report data cover regulations measured from
June 2012 through May 2013. The report is the 11th edition

This economy profile presents the Doing
Business indicators for Philippines. In a series of annual
reports, Doing Business assesses regulations affecting
domestic firms in 189 economies and ranks the economies in
10 areas of business regulation, such as starting a
business, resolving insolvency and trading across borders.
This year's report data cover regulations measured from
June 2012 through May 2013. The report is the 11th edition