Impact of economic crisis on business regulation reforms
Abstract
The objective of this article is to identify link between the last economic crisis and business regulatory reforms. The data set contains the information about number of doing business reforms and its impact to selected countries’ total ranking in doing business. The article presents review of empirical work available in scientific literature assessing how the regulatory environment for doing business affects productivity, economic growth, trade and investment. Available data shows that an economic crisis creates a stronger motivation for reform and how a simplified and competitive regulatory framework with reduced barriers can encourage business entrepreneurship and economic growth. The article expands the current knowledge on link between regulatory framework and economic growth. It includes both economic and legal overview in order to under-stand how the economic crisis affected the regulatory framework for doing business. It indicates the importance of an adequate legal framework that follows dynamic economic trends.Keywords
Economic crisis, regulatory reforms, deregulation, doing business,
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